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Prepare a correct trial balance. The following trial balance of Skysong Co. does not balance. SKYSONGCO. TRIAL BALANCE JUNE 30, 2025 begin{tabular}{|c|c|c|} hline & Debit
Prepare a correct trial balance.
The following trial balance of Skysong Co. does not balance. SKYSONGCO. TRIAL BALANCE JUNE 30, 2025 \begin{tabular}{|c|c|c|} \hline & Debit & Credit \\ \hline Cash & & $3,051 \\ \hline Accounts Receivable & $3,090 & \\ \hline Supplies & 981 & \\ \hline Equipment & 3,981 & \\ \hline Accounts Payable & & 2,847 \\ \hline Unearned Service Revenue & 1,381 & \\ \hline Common Stock & & 6,181 \\ \hline Retained Earnings & & 3,181 \\ \hline Service Revenue & & 2,561 \\ \hline Salaries and Wages Expense & 3,581 & \\ \hline \multirow[t]{2}{*}{ Office Expense } & 1,121 & \\ \hline & $14,135 & $17,821 \\ \hline \end{tabular} Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors. 1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750. 2. The purchase of a computer printer on account for $681 was recorded as a debit to Supplies for $681 and a credit to Accounts Payable for $681. 3. Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89. 4. A payment of $85 for telephone charges was recorded as a debit to Office Expense for $85 and a debit to Cash for $85. 5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $506 was performed prior to June 30 (related to Unearned Service Revenue). 6. A debit posting to Salaries and Wages Expense of $851 was omitted. 7. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260. 8. A dividend of $756 was debited to Salaries and Wages Expense for $756 and credited to Cash for $756Step by Step Solution
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