Question 1 Correcting the Trial Balance:Alphafailed to record the following: (1) The issue to shareholdersof $1,500 of common stock for cash and (2) the "declaration" of a $800 dividend. Ignore paid in capital in excess of par value.What corrections, if any, shouldbemadeto the

trial balance?

Debit Column

• No correction is required.
• -1,500 -800
• +700
• The correct answer is not listed.
• +1,500 +800

Credit Column

• No correction is required.
• -1,500 -800
• +700
• The correct answer is not listed.
• +1,500 +800

Question 2: Correcting the Trial Balance: Cash of $1,000 received in advance from a customer

was recorded as a debit to accounts receivable and a credit to sales. By the end of

the year,noneof the revenue had been earned. Alpha did not record an AJE. What

corrections, if any, should be madeto the trial balance?

Debit column:

Credit column: