Answered step by step
Verified Expert Solution
Link Copied!

Question

...
1 Approved Answer

E3.3 (Corrected Trial Balance) The following trial balance of Scarlatti Corporation does not balance. Scarlatti Corporation Trial Balance April 30, 2019 Debit Credit Cash

image text in transcribed

E3.3 (Corrected Trial Balance) The following trial balance of Scarlatti Corporation does not balance. Scarlatti Corporation Trial Balance April 30, 2019 Debit Credit Cash $ 5,912 Accounts Receivable 5,240 Supplies 2,967 Equipment 6,100 Accounts Payable 7,044 Shares Capital, Ordinary 8,000 Retained Earnings 2,000 Service Revenue 5,200 Office Expense 4,320 $24,539 $22,244 An examination of the ledger shows these errors. 1. Cash received from a customer on account was recorded (both debit and credit) as $1,580 instead of $1,850. 2. The purchase on account of a computer costing $1,900 was recorded as a debit to Office Expense and a credit to Accounts Payable. 3. Services were performed on account for a client, $2,250, for which Accounts Receivable was debited $2,250 and Service Revenue was credited $225. 4. A payment of $95 for telephone charges was entered as a debit to Office Expense and a debit to Cash. 5. The Service Revenue account was totaled at $5,200 instead of $5,280. Instructions From this information prepare a corrected trial balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cornerstones of Managerial Accounting

Authors: Mowen, Hansen, Heitger

3rd Edition

978-0324660135