Problem 2-4A

The trial balance of Dominic Company shown below does not balance.

DOMINIC COMPANY

Trial Balance

May 31, 2015

Debit

Credit

Cash $5,070

Accounts Receivable$2,740

Prepaid Insurance 820

Equipment 13,220

Accounts Payable5,720

Unearned Service Revenue 680

Common Stock12,920

Service Revenue 8,680

Salaries and Wages Expense 4,320

Advertising Expense980

Utilities Expense 800

$33,590

$22,360

Your review of the ledger reveals that each account has a normal balance. You also discover the following errors.

1.The totals of the debit sides of Prepaid Insurance, Accounts Payable, and Utilities Expense were each understated $100.

2.Transposition errors were made in Accounts Receivable and Service Revenue. Based on postings made, the correct balances were $2,470and $8,860, respectively

.3.A debit posting to Salaries and Wages Expense of $200was omitted

4.A $1,950cash dividend was debited to Common Stock for $1,950and credited to Cash for $1,950.

5.A $470purchase of supplies on account was debited to Equipment for $470and credited to Cash for $470.

6.A cash payment of $660for advertising was debited to Advertising Expense for $66and credited to Cash for $66.

7.A collection from a customer for $400was debited to Cash for $400and credited to Accounts Payable for $400.

DOMINIC COMPANY

Trial Balance

May 31, 2015

Debit

Credit

$

$

$

$