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the trial balance of Loving Care Child Care does not balance Account Title. Debit. Credit Cash. 7,310 Account Receivable. 7,000 Office Supplies. 500 Prepaid Insurance.
the trial balance of Loving Care Child Care does not balance
Account Title. Debit. Credit Cash. 7,310 Account Receivable. 7,000 Office Supplies. 500 Prepaid Insurance. 500 Equipment. 87,200 Account Payable. 3,100 Notes Payable. 51,000 Tilton, Capital. 52,300 Tipton, Withdrawals. 4,290 Service Revenue. 5,900 Salaries Esxpenses. 4,900 Rent Expenses. 800 Total. 112,500. 112,300
Errors Cash is understated by $1,600 a. b. c. A $4,000 debit to Accounts Receivable was posted as a credit A $1,600 purchase of office supplies on account was neither journalized nor posted d. Equipment was incorrectly transferred from the ledger as $87,200. It should have been transferred as $79,500. e. Salaries Expense is overstated by $600. . A $600 cash payment for advertising expense was neither journalized nor posted g. A $210 owner's withdrawal of cash was incorrectly journalized as $2,100 h. Service Revenue was understated by $4,500 i. A 12-month insurance policy was posted as a $1,500 credit to Prepaid insurance Cash was posted correctly Print DoneStep by Step Solution
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