Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Please prepare the corrected trial balance at August 31, 2018. Journal entries are not required. please fill in the trial balance below. Creative Child Care
Please prepare the corrected trial balance at August 31, 2018. Journal entries are not required. please fill in the trial balance below.
Creative Child Care Trial Balance August 31, 2018 The trial ballance of Creative Child Care does not balance. (Cick the icon to view the trial balance) The following errors are detected (Click the icon to view the errors.) Prepare the corrected trial balance at August 31, 2018. Journal entries are not required Data Table Balance Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accounts Payable Notes Payable Common Stock Debit Credit Child Care Trial Balance More Into August 31, 2018 Account Title Cash Accounts Receivable Office Supplios Prepaid Insurance Debit Credit Cash is understated by $1,000 A$4,500 debit to Accounts Receivable was posted as a credit a. 5 8,310 7.200 500 1,700 88,500 b. c.A$1,200 purchase of office supplies on account was neither joumalized nor d. Equipment was incorrectly transferred from the ledger as $88,500. It should have been transferred as $80,500 5 3300 5.000 51,000 Accounts Payable Notes Payable Common Stock 51,000 e. Salaries Expense is overstated by $800 f. A$900 cash payment for advertising expense was neither journalzed nor posted g. A$210 cash dividend was incorrectly journalized as $2,100 h. Service Revenue was understated by $4,300 4,190 Service Revenue Salaries Expense Rent Expense Advertising Expense Total 6.700 Service Revenue Salaries Expanse Rent Expense Total A 12-month insurance policy was posted as a $1,400 credit to Prepaid Insurance. Cash was posted correctly 5.200 700 5 116,300 $ 116,000 Print DoneStep 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