Question
please prepare the correct adjustments for the trial balance the amounts are cash 5875 accounts receivable 3620 equipment 14020 accounts payable 5290 property taxes payable
please prepare the correct adjustments for the trial balance
the amounts are cash 5875 accounts receivable 3620 equipment 14020 accounts payable 5290 property taxes payable 500 capital 17900 service revenue 7027
advertising expense 1132 property expense 1100 salaries expense 4150
the errors for the trail balance are
#1 property tax expense was understated by $500 and property tax payable was overstated by $500
#2 a $650 credit to service revenue was incorrectly posted as a $560 credit
#3 a debit posting to salaries expense of $350 was not done
#4 a $750 cash withdrawal by the owner was debited to capital for $750 and credited to cash for $750
#5 a $650 purchase of supplies on account was debited to equipment for $650 and credited to cash for $650
#6 a cash payment of $120 for advertising was debited to advertising expense for $210 and credited to cash for $210
#7 a $385 collection from a customer was debited to cash for $385 and debited to accounts receivable for $338
#8 a cash payment on account for $165 was recorded as a $165 credit to cash and a $165 credit to accounts payable
#9 a $2000 note payable was issued to purchase equipment. the transaction was neither journalized or posted
instructions
also prepare an original corrected trial balance
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