Please help me Find and Correct the errors in the journal ledger and trial balance!! I am so struggling! Thank you!
The exercise below, involving a journal, ledger, and trial balance, has errors in it. Locate and correct the errors and balance the trial balance GENERAL JOURNAL PAGE 12 DATE PARTICULARS CREDIT PR DEBIT 20 Nov 4 Automobile 125 13 5 0 0 GST Recoverable 215 05 Bank 105 4 0 0 0 AIP Ace Finance 205 II55 Purchase of new car for $15 S15 incl. tax Assume that $36 is correct GST Furniture 9 00 120 GST Recoverable 215 3 6- Bank 105 9 3 6 Purchase of new desk for $936 incl. tax 7 A/R-A. Boyd I10 4 6 0 Revenue 400 4 00 GST Payable 210 28 3 2 PST Payable 220 Sale on acCount 3 4 5 10 Bank 105 Revenue 400 30 0 GST Payable PST Payable 210 2 220 2 4 Cash sale 7 0 0 510 Rent Expense 12 49 215 GST Recoverable 7 49 105 Bank Rent for the month 20 0 4 505 15 Car Expense 215 GST Recoverable 24 105 Bank Car repairs paid by cash de Tne Toronto, Ontario lON 7.2 EXERCISES (cont) Exercise 1 (cont.) GENERAL LEDGER ACCOUNT Bank DATE No. 105 PARTICULARS PR 20 Oct DEBIT CREDIT DR/CR BALANCE 31 Forwarded Nov 4 12 0 4 8 88 DR J12 J12 J12 J12 J12 8 04 8 88 7 2 88 7 3 5788 6 6 0 8 88 6 39 4 88 0 0 0 6 4 DR 936 10 DR 2 45 DR 12 7 4 9 DR 15 24 DR ACCOUNT A/R-A Boyd No. 110 DATE PARTICULARS BALANCE P.R. DR/CR DEBIT CREDIT 20 Nov. 7 4 6 0 4 6 0 J12 DR ACCOUNT Supplies No. 115 DR/CR DATE BALANCE PARTICULARS PR DEBIT CREDIT 20 Oct 5 70 31 Forwarded DR No. 120 ACCOUNT Furniture DEBIT DR/CR PARTICULARS PR CREDIT DATE BALANCE 20- Oct. 31 Forwarded I97 50 DR 900 J12 28 7 50 Nov 6 DR ACCOUNT Automobile No. 125 DR/CR P.R DEBIT PARTICULARS CREDIT DATE BALANCE 20- 13 5 0 0 J12 13 5 0 0 4 DR Nov ANSWERS TO SECTION 7.2 EXERCISES (cont) Exercise 1 (cont.) No. 205 ACCOUNT A/P-Ace Finance DR/CR BALANCE PARTICULARS PR DEBIT CREDIT DATE 20 II55 J12 I5I5- Nov 4 No. 210 ACCOUNT GST Payable PARTICULARS PR. DATE DEBIT BALANCE DR/CR CREDIT 20 Oct 31 Forwarded 2 590 CR 7 J12 2 79 90 Nov 28 CR ACCOUNT GST Recoverable No. 215 PARTICULARS PR DATE DEBIT DR/CR BALANCE CREDIT 20 I9 3 50 I208 50 31 Forwarded Oct DR I0I5 J12 J12 J12 J12 4 DR Nov 3 6 I2 4 4 50 6 DR 21 I2 6 5 50 10 DR 4 9 I34 50 DR 12 I 4 I3 2 8 50 DR J12 15 No. 220 ACCOUNT PST Payable DR/CR DEBIT BALANCE CREDIT PR. PARTICULARS DATE 20 Oct 36 5 CR Forwarded 31 388 2 3- CR J12 Nov. 7 No. 305 ACCOUNT A. Holmes, Capital DR/CR BALANCE CREDIT DEBIT PR. PARTICULARS DATE 9024 44 CR 20- 31 Forwarded Oct. Fducation Canada Inc., Toronto, Ontario- CR (cont.) Exercise ACCOUNT Revenue No. 400 DATE PARTICULARS PR. DEBIT DR/CR CREDIT BALANCE 20- Oct. 31 Forwarded 19 4 09 CR Nov 7 J12 J12 19 709 4 0 0 CR 10 20 0 0 9 3 0 0 ACCOUNT Car Expense No. 505 DATE PARTICULARS DR/CR P.R. BALANCE DEBIT CREDIT 20 Oct 2 96 4 30 31 Forwarded DR 3I6 4 30 Nov 15 200 DR J12 No. 510 ACCOUNT Rent Expense DR/CR BALANCE CREDIT PR. DEBIT DATE PARTICULARS 20 7000 7 700 DR Oct. 31 Forwarded 700 DR J12 12 Nov No. 515 ACCOUNT Wages Expense DR/CR BALANCE CREDIT PR DEBIT PARTICULARS DATE 20 4 302 16 DR Forwarded 31 Oct. CR Exercise 1 (cont.) A. Holmes Trial Balance November 15, 20- CREDIT DEBIT ACCOUNTS 6 3 9 4 88 Bank 4 6 0 AIR A Boyd 5 70 Supplies Furniture 2 8 7 50 13 5 0 0 Automobile II 55 A/P-Ace Finance GST Payable 27990 I328 50 GST Recoverable 3 88 PST Payable 902 4 44 A Holmes, Capital 20 0 0 9 Revenue 3I6 4 30 Car Expense 770 0 Rent Expense 4 30 2 16 Wages Expense 42 5 4 4 84 38 9 6 2 84 The exercise below, involving a journal, ledger, and trial balance, has errors in it. Locate and correct the errors and balance the trial balance GENERAL JOURNAL PAGE 12 DATE PARTICULARS CREDIT PR DEBIT 20 Nov 4 Automobile 125 13 5 0 0 GST Recoverable 215 05 Bank 105 4 0 0 0 AIP Ace Finance 205 II55 Purchase of new car for $15 S15 incl. tax Assume that $36 is correct GST Furniture 9 00 120 GST Recoverable 215 3 6- Bank 105 9 3 6 Purchase of new desk for $936 incl. tax 7 A/R-A. Boyd I10 4 6 0 Revenue 400 4 00 GST Payable 210 28 3 2 PST Payable 220 Sale on acCount 3 4 5 10 Bank 105 Revenue 400 30 0 GST Payable PST Payable 210 2 220 2 4 Cash sale 7 0 0 510 Rent Expense 12 49 215 GST Recoverable 7 49 105 Bank Rent for the month 20 0 4 505 15 Car Expense 215 GST Recoverable 24 105 Bank Car repairs paid by cash de Tne Toronto, Ontario lON 7.2 EXERCISES (cont) Exercise 1 (cont.) GENERAL LEDGER ACCOUNT Bank DATE No. 105 PARTICULARS PR 20 Oct DEBIT CREDIT DR/CR BALANCE 31 Forwarded Nov 4 12 0 4 8 88 DR J12 J12 J12 J12 J12 8 04 8 88 7 2 88 7 3 5788 6 6 0 8 88 6 39 4 88 0 0 0 6 4 DR 936 10 DR 2 45 DR 12 7 4 9 DR 15 24 DR ACCOUNT A/R-A Boyd No. 110 DATE PARTICULARS BALANCE P.R. DR/CR DEBIT CREDIT 20 Nov. 7 4 6 0 4 6 0 J12 DR ACCOUNT Supplies No. 115 DR/CR DATE BALANCE PARTICULARS PR DEBIT CREDIT 20 Oct 5 70 31 Forwarded DR No. 120 ACCOUNT Furniture DEBIT DR/CR PARTICULARS PR CREDIT DATE BALANCE 20- Oct. 31 Forwarded I97 50 DR 900 J12 28 7 50 Nov 6 DR ACCOUNT Automobile No. 125 DR/CR P.R DEBIT PARTICULARS CREDIT DATE BALANCE 20- 13 5 0 0 J12 13 5 0 0 4 DR Nov ANSWERS TO SECTION 7.2 EXERCISES (cont) Exercise 1 (cont.) No. 205 ACCOUNT A/P-Ace Finance DR/CR BALANCE PARTICULARS PR DEBIT CREDIT DATE 20 II55 J12 I5I5- Nov 4 No. 210 ACCOUNT GST Payable PARTICULARS PR. DATE DEBIT BALANCE DR/CR CREDIT 20 Oct 31 Forwarded 2 590 CR 7 J12 2 79 90 Nov 28 CR ACCOUNT GST Recoverable No. 215 PARTICULARS PR DATE DEBIT DR/CR BALANCE CREDIT 20 I9 3 50 I208 50 31 Forwarded Oct DR I0I5 J12 J12 J12 J12 4 DR Nov 3 6 I2 4 4 50 6 DR 21 I2 6 5 50 10 DR 4 9 I34 50 DR 12 I 4 I3 2 8 50 DR J12 15 No. 220 ACCOUNT PST Payable DR/CR DEBIT BALANCE CREDIT PR. PARTICULARS DATE 20 Oct 36 5 CR Forwarded 31 388 2 3- CR J12 Nov. 7 No. 305 ACCOUNT A. Holmes, Capital DR/CR BALANCE CREDIT DEBIT PR. PARTICULARS DATE 9024 44 CR 20- 31 Forwarded Oct. Fducation Canada Inc., Toronto, Ontario- CR (cont.) Exercise ACCOUNT Revenue No. 400 DATE PARTICULARS PR. DEBIT DR/CR CREDIT BALANCE 20- Oct. 31 Forwarded 19 4 09 CR Nov 7 J12 J12 19 709 4 0 0 CR 10 20 0 0 9 3 0 0 ACCOUNT Car Expense No. 505 DATE PARTICULARS DR/CR P.R. BALANCE DEBIT CREDIT 20 Oct 2 96 4 30 31 Forwarded DR 3I6 4 30 Nov 15 200 DR J12 No. 510 ACCOUNT Rent Expense DR/CR BALANCE CREDIT PR. DEBIT DATE PARTICULARS 20 7000 7 700 DR Oct. 31 Forwarded 700 DR J12 12 Nov No. 515 ACCOUNT Wages Expense DR/CR BALANCE CREDIT PR DEBIT PARTICULARS DATE 20 4 302 16 DR Forwarded 31 Oct. CR Exercise 1 (cont.) A. Holmes Trial Balance November 15, 20- CREDIT DEBIT ACCOUNTS 6 3 9 4 88 Bank 4 6 0 AIR A Boyd 5 70 Supplies Furniture 2 8 7 50 13 5 0 0 Automobile II 55 A/P-Ace Finance GST Payable 27990 I328 50 GST Recoverable 3 88 PST Payable 902 4 44 A Holmes, Capital 20 0 0 9 Revenue 3I6 4 30 Car Expense 770 0 Rent Expense 4 30 2 16 Wages Expense 42 5 4 4 84 38 9 6 2 84
