Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

pls answer The following trial balance of Ivanhoe Corporation does not balance. An examination of the ledger shows these errors. 1. Cash received from a

pls answer
image text in transcribed
image text in transcribed
image text in transcribed
The following trial balance of Ivanhoe Corporation does not balance. An examination of the ledger shows these errors. 1. Cash received from a customer on account was recorded (both debit and credit) as $1,680 instead of $1.950. 2. The purchase on account of a computer costing $3.203 was recorded as a debit to Office Expense and a credit to Accounts Payable. 3. Services were performed on account for a client, \$2,350, for which Accounts Receivable was debited $2.350 and Service Revenue was credited $325. 4. A payment of $195 for telephone charges was entered as a debit to Office Expense and a debit to Cash. 5. The Service Revenue account was totaled at $5,300 instead of $5,380. From this information prepare a corrected trial balance

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Excise Tax Air Transportation IRS Audit Techniques Guide ATG

Authors: Internal Revenue Service

1st Edition

1304112772, 978-1304112774

More Books

Students also viewed these Accounting questions

Question

4. Label problematic uses of language and their remedies

Answered: 1 week ago