Question
please help me prepare a correct trial balance for the company. and show the adjustments the amounts are cash 6680 accounts receivable 3850 supplies 3500
please help me prepare a correct trial balance for the company. and show the adjustments
the amounts are cash 6680 accounts receivable 3850 supplies 3500 equipment 12620 accumulated equipment 6000 accounts payable 5330 salaries payable 2250 unearned revenue 955 capital 15375 service revenue 7800 miscellaneous expense 1360# salaries expense 4800
the errors that occurred are the following that should be corrected
#1 the purchase on account of equipment for $2100 on March 1 was recorded as a debit to supplies and a credit to accounts payable both for $1200
#2 March rent of $1150 was paid on March 2. the company recorded this as a debit to miscellaneous expense and a credit to cash both got $1150
#3 cash of $955 was received from a customer on account. it was recorded as a debit to cash and a credit to service revenue both for $955
#4 a payment of a $575 account payable was entered as a debit to cash and a credit to accounts receivable both for $575
#5 the first salary payment made was for $3000 which included $750 of salaries payable on February 28, the payment was recorded as a debit to salaries payable of $3000 and a credit to cash of $3000 {no reversing entries were made on March}
#6 equipment repairs of $260 on account were recorded as a debit to equipment and a credit to cash both for $620
#7 the owner paid himself $1800 and recorded this as salary expense
$8 the depreciation expense for the month of March has not been recorded. All of the company's equipment is expected to have a five year useful life
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