Question 6 Sara Yu, CA, was retained by Sheffield Cable to prepare financial statements for April 2017. Yu accumulated all the ledger balances per Sheffield's records and found the following. SHEFFIELD CABLE Trial Balance April 30, 2017 Credit Debit 4,164 3,219 878 10,678 Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Unearned Service Revenue Share Capital-Ordinary Retained Earnings Service Revenue Salaries and Wages Expense Advertising Expense Miscellaneous Expense Depreciation Expense 1,335 2,218 655 963 9,982 2,690 5,411 3,117 452 292 454 23,254 23,254 Sara Yu reviewed the records and found the following errors. 1. 2. 3. Cash received from a customer on account was recorded as 840 instead of 480. A payment of 80 for advertising expense was entered as a debit to Miscellaneous Expense 80 and a credit to Cash 80. The first salary payment this month was for 1,839, which included 655 of salaries payable on March 31. The payment was recorded as a debit to Salaries and Wages Expense 1,839 and a credit to Cash 1,839. (No reversing entries were made on April 1.) The purchase on account of a printer costing 304 was recorded as a debit to Supplies and a credit to Accounts Payable for 304. A cash payment of repair expense on equipment for 48 was recorded as a debit to Equipment 84 and a credit to Cash 84. 4. 5. (a) Prepare an analysis of each error showing the incorrect entry, the correct entry, and the correcting entry. Items 4 and 5 occurred on April 30, 2017. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) INCORRECT ENTRY No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5. CORRECT ENTRY No. Account Titles and Explanation Debit Credit 1 2. 3. 4. 5. CORRECTING ENTRY No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. 5