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Problem 2-4A The trial balance of Dominic Company shown below does not balance. DOMINIC COMPANY Trial Balance May 31, 2015 Debk Cash Accounts Receivable Prepaid

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Problem 2-4A The trial balance of Dominic Company shown below does not balance. DOMINIC COMPANY Trial Balance May 31, 2015 Debk Cash Accounts Receivable Prepaid Insurance $4,920 $2,730 Accounts Payable Uncarned Service Revenue Common Stock Service Revenue Salaries and Wages Expense Advertising Expense Utilities Expense 5,570 680 12,770 8,670 4,320 980 13320$22.050 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 Ubilities Expense were each understated $100 2. Transposition errors were made in Accounts Receivable and Service Revenue. Based on postings made, the correct balances were $2,370 and $8,760, respectively. 3. A debit posting to Salaries and Wages Expense of $200 was omitted. 4, A $1,360 cash dividend was debited to Common Stock for $1,360 and credited to Cash for $1,360. 5. A $500 purchase of supplies on account was debited to Equipment for $500 and credited to Cash for $500. 6. A cash payment of $710 for advertising was debited to Advertising Expense for $71 and credited to Cash for $71 7. A collection from a customer for s610 was debited to Cash for $610 and credited to Accounts Payable for $610. Prepare a correct trial balance. (Hint: It helps to prepare the correct journal entry for the transaction described and compare it to the mistake made.) DOMINIC COMPANY Trial Balance May 31, 2015 Desit Credit

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