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SHERIDAN COMPANY Trial Balance June 30, 2017 Debit Credit Cash $ 5,290 Accounts Receivable $ 5,390 Supplies 2,250 Equipment 5,200 Accounts Payable 5,886 Unearned Service
SHERIDAN COMPANY Trial Balance June 30, 2017 | ||||
---|---|---|---|---|
Debit | Credit | |||
Cash | $ 5,290 | |||
Accounts Receivable | $ 5,390 | |||
Supplies | 2,250 | |||
Equipment | 5,200 | |||
Accounts Payable | 5,886 | |||
Unearned Service Revenue | 2,650 | |||
Common Stock | 11,200 | |||
Dividends | 800 | |||
Service Revenue | 5,680 | |||
Salaries and Wages Expense | 3,560 | |||
Utilities Expense | 930 | |||
$20,780 | $28,056 |
Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors:
1. | Cash received from a customer on account was debited for $750, and Accounts Receivable was credited for the same amount. The actual collection was for $705. | |
2. | The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340. | |
3. | Services were performed on account for a client for $900. Accounts Receivable was debited for $90 and Service Revenue was credited for $900. | |
4. | A debit posting to Salaries and Wages Expense of $720 was omitted. | |
5. | A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260. | |
6. | Payment of a $600 cash dividend to Sheridan Company's stockholders was debited to Salaries and Wages Expense for $600 and credited to Cash for $600. |
Prepare the correct trial balance. (Hint: All accounts have normal balances.)
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