Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Errors in Trial Balance Identify the errors in the following trial balance. All accounts have normal balances. Ensemble Co. Unadjusted Trial Balance For the Year
Errors in Trial Balance Identify the errors in the following trial balance. All accounts have normal balances. Ensemble Co. Unadjusted Trial Balance For the Year Ending December 31, 20Y8 Debit Balances Credit Balances Cash 76,200 Accounts Receivable 166,770 Prepaid Insurance 36,080 Equipment 509,000 Accounts Payable 19,240 Salaries Payable 12,830 Common Stock 252,800 Retained Earnings 184,200 Dividends 60,940 Service Revenue 801,800 Salary Expense Advertising Expense Miscellaneous Expense 333,690 72,960 15,230 1,552,300 1,552,300 After identifying the errors, prepare a corrected unadjusted trial balance. For those boxes in which no entry is required, leave the box blank. Miscellaneous Expense 15,250 1,552,300 1,552,300 After identifying the errors, prepare a corrected unadjusted trial balance. For those boxes in which no entry is required, leave the box blank. Ensemble Co. Unadjusted Trial Balance December 31, 20Y8 Debit Balances Credit Balances Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Salaries Payable Common Stock Retained Earnings Dividends Service Revenue Salary Expense Advertising Expense Miscellaneous Expense
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started