PS-2-5A need help

95 Chapter 2 Analyzing Transactions PR 2-5A Corrected trial balance The Lexington Obj. 4 df Debit olmm $650.000 Group has the following unadjusted trial balance as of May 31, 2018 The Lexington Group Unadjusted Trial Balance May 31, 2018 Cash Accounts Receivable. Supplies 20,350 37,000 1,100 200 171,175 Equipment. Notes Payable. 36,000 26,000 50,000 94,150 Accounts Payable Dividends.... Fees Earned Wages Expense Rent Expense Advertising Expense.... 15,000 429,850 270,000 63,000 25,200 5,100 608,125 636,000 The debit and credit totals are not equal as a result of the following errors: A The cash entered on the trial balance was overstated by $7,000 8 A cash receipt of $8,200 was posted as a debit to Cash of C. A debit of $16,500 to Accounts Receivable was not posted. D. A return of $125 of defective supplies was erroneously posted as a $1,250 credit to Supplies E. An insurance policy acquired at a cost of $3,600 was posted as a credit to Prepaid Insurance. F. The balance of Notes Payable was understated by $9,000. G. A credit of $10,000 in Accounts Payable was overlooked when determining the balance of the account. H. A debit of $5,000 for dividends was posted as a credit to Retained Earnings 1 The balance of S60.300 in Rent Expense was entered as $6300 in the trial balance. . Gas, Electricity, and Water Expense, with a balance of $16,350, was omitted from the trial balance. $2,800. Instructions 1. Prepare a corrected unadjusted trial balance as of May 31, 2018. 2Does the fact that the unadjusted trial balance in (1) is balanced mean that there are no errors in the accounts? Explain. ns: Series B PR 2-1B Ken Jones, an architect, organized Jones Architects on April 1, 2018. During the month, Jones Architects completed the following transactions: A Entries into T accounts and trial balance Obj. 1, 2, 3, 4 n: 0 Transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $18,000. 8. Purchased used automobile for $19,500, paying $2,500 cash and giving a note payable for the remainder C. Paid April rent for office and workroom, $3,150