Question
Question 3: You are the bookkeeper of Lewis company, your manager asked you to prepare the TB for the first six months of 2019, unfortunately
Question 3: You are the bookkeeper of Lewis company, your manager asked you to prepare the TB for the first six months of 2019, unfortunately your knowledge in accounting (1) is weak because you did not study and cheated in your exams and for that reason some accounts balances in the trial balance contain some errors: Debit Credit Cash 17,650 Supplies $7,950 Account receivables $12,000 Equipments $100,000 Account payable $15,000 Unearned service revenues $7,340 Share capital ordinary $80,000 Retained earnings $67,000 Service revenues $106,000 Rent revenues $7000 Rent expense $12,000 Utilities expense $9,800
And you have the following additional data:
All accounts have normal balances
There is a transposition error in Cash and unearned service revenues, the correct amounts are $17,560 and $7,430 respectively.
Service provided for clients on account total of $5,600. This transaction was journalized and posted as debit to Account payable $5,600 and credit to Service revenues $5,600.
Share capital is understated by $5000. Supplies is overstated by 250$.
Required: what is the correct balance of each of the
following (please write Dr. or Cr. After the amount) A. Account receivable B. Cash C. Rent revenues D. Share capital
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