Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following trial balance of Carla Madock Tutoring Service as of May 31, 2024, does not balance. LOADING...(Click the icon to view the trial balance.)
The following trial balance of Carla Madock Tutoring Service as of May 31, 2024, does not balance. LOADING...(Click the icon to view the trial balance.) LOADING...(Click the icon to view the investigation results.) Prepare the corrected trial balance as of May 31, 2024, complete with a heading; journal entries are not required.
Data Table - X ot Carla Madock Tutoring Service Trial Balance May 31, 2024 Balance Account Title Debit Credit Cash $ 2,900 Accounts Receivable 1,800 800 16 000 Office Supplies Computer Equipment Accounts Payable Utilities Payable Madock, Capital S 11 400 750 11 800 Madock, Withdrawals 10.600 Service Revenue 9.900 1,700 Salaries Expense Rent Expense 900 700 Utilities Expense $ 35,400 S 33,850 Total Print Done Clea - X 1 More Info Investigation of the accounting records reveals that the bookkeeper a. Recorded a $700 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct b. Posted a $1,000 credit to Accounts Payable as $100 c. Did not record Utilities Expense or the related Utilities Payable in the amount of $300 d. Understated Madock, Capital by $650 Print Done Prepare the corrected trial balance as of May 31, 2024, complete with a heading, joumal en Carla Madock Tutoring Service Trial Balance May 31, 2024 Balance Account Title Debit Credit Total hoc from
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started