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Garland Company Trial Balance May 31, 2014 Debit Credit Cash 5,017 Accounts Receivable 2,790 Prepaid Insurance 806 13,167 Equipment Accounts payable 5,667 Unearned Service Revenue

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Garland Company Trial Balance May 31, 2014 Debit Credit Cash 5,017 Accounts Receivable 2,790 Prepaid Insurance 806 13,167 Equipment Accounts payable 5,667 Unearned Service Revenue 666 12,867 Share Capital ordinary Service Revenue 8,680 Salaries and Wages Expense 4,306 Advertising Expense 994, Utilities Expense 800 E33,442 22,318 Your review of the ledger reveals that each account has a normal balance. You also discover the following errors. 1. The totals of the debit sides of Prepaid Insurance, Accounts Payable, and Utilities Expense were each understated E100 2. Transposition errors were made in Accounts Receivable and Service Revenue. Based on postings made, the correct balances were 2,470 and 8,860, respectively. 3. A debit posting to Salaries and Wages Expense of 200 was omitted. 4. A 1,772 cash dividend was debited to Share Capita Ordinary for 1,772 and credited to Cash for 1,772. 5. A 498 purchase of supplies on account was debited to Equipment for 498 and credited to Cash for 498 6. A cash payment of 490 for advertising was debited to Advertising Expense for 49 and credited to Cash for 49. 7. A collection from a customer for 460 was debited to Cash for 460 and credited to Accounts Payable for 460. Prepare a correct trial balance. (Hint: It helps to prepare the correct journal entry for the transaction described and compare it to the mistake made.)

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