E3-4B (Corrected Trial Balance) The trial balance of Vail Co. does not balance.

VAIL CO.

TRIAL BALANCE

JUNE 30, 2014

Debit Credit

Cash $ 1,650 Accounts Receivable $ 8,618 Supplies 1,200 Equipment 7,800 Accounts Payable 5,600 Unearned Service Revenue 600 Common Stock 10,000 Retained Earnings 2,038 Service Revenue 7,950 Salaries and Wages Expense 2,100 Office Expense 1,380 $21,698 $27,238 Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors. 1. Cash received from a customer on account was debited for $160, and Accounts Receivable was credited for the same amount. The actual collection was for $610. 2. The purchase of a computer printer on account for $850 was recorded as a debit to Supplies for $850 and a credit to Accounts Payable for $850. 3. Services were performed on account for a client for $460. Accounts Receivable was debited for $60 and Service Revenue was credited for $460. 4. A payment of $150 for internet charges was recorded as a credit to Office Expense for $150 and a credit to Cash for $150. 5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $200 was performed prior to June 30. 6. A debit posting to Salaries and Wages Expense of $1,200 was omitted. 7. A payment on account for $350 was credited to Cash for $350 and credited to Accounts Payable for $350. 8. Adividend of $600 was debited to Salaries and Wages Expense for $600 and credited to Cash for $60. Instructions: Prepare a correct trial balance. (Note: It may be necessary to add one or more accounts to the trial balance.)