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The trial balance of Smart Tots Child Care (August 31, 2024) does not balance- the following errors are detected: (Looking for the correct Trial Balance
The trial balance of Smart Tots Child Care (August 31, 2024) does not balance- the following errors are detected:
(Looking for the correct Trial Balance and calculations preferred, not required)
Time sensitive, thank you so much!!
The trial balance of Smart Tots Child Care does not balance. (Click the icon to view the trial balance.) The following errors are detected: i (Click the icon to view the errors.) Prepare the corrected trial balance as of August 31, 2024. Journal entries are not required. - X Trial balance Smart Tots Child Care Trial Balance August 31, 2024 Errors Balance Credit Debit 9,240 $ C. d. 8.600 1,500 e. e a. Cash is understated by $800. b. A $3,800 debit to Accounts Receivable was posted as a credit. A $800 purchase of office supplies on account was neither journalized nor posted. Equipment was incorrectly transferred from the ledger as $84,300. It should have been transferred as $76,000. Salaries Expense is overstated by $200. f. A $800 cash payment for advertising expense was neither journalized nor posted. g. A $140 owner's withdrawal of cash was incorrectly joumalized as $1,400. h h. Service Revenue was understated by $4,000. A 12-month insurance policy was posted as a $1,600 credit to Prepaid Insurance. Cash was posted correctly 1,000 Account Title Cash Accounts Receivable Office Supplies Prepaid Insurance Equipment Accounts Payable Notes Payable Taylor, Capital Taylor, Withdrawals Service Revenue Salaries Expense Rent Expense 84,300 $ 3,200 i. 52,000 51,500 4,260 5.100 Print Done 3,400 400 $ 112,700 $ 111,800 TotalStep by Step Solution
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