The trial balance of Syed Moiz Co. shown below does not balance SYED MOIZ CO. Trial Balance June 30, 2019 Debit Credit Cash $6,340 Accounts Receivable $ 2,731 Supplies 1,200 Equipment 2,600 Accounts Payable 4,720 Accumulated of dep 200 Unearned Revenue 2,100 S. Moiz Capital 8,300 S. Moiz, Drawing 1.800 Good Will 5,000 Mortgage notes payable (3000s within one year) 7,000 Service Revenue 2781 Prepaid insurance 500 Salaries Expense 3,900 Office Expense 1,030 $22,561 $27.641 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 in payment of its account was debited for $480, and Accounts Receivable was credited for the same amount. The actual collection was for $840, 2. The purchase of a computer on account for $620 was recorded as a debit to Supplies for $620 and a credit to Accounts Payable for $620 3. The withdrawal of $600 cash for Moiz's personal use was debited to Salaries Expense for $60 and credited to Cash for $60. Instructions a) Prepare a correct trial balance. A) Conan Industries collected $100,000 from customers in 2019. Of the amount collected, $25,000 was from revenue eamed on account in 2018. In addition, Conan earned $40,000 of revenue in 2019, which will not be collected until 2020, Instructions prepare adjusting entries and post revenues in ledger in 31\12\2019 B) Conan Industries also paid $78,000 for expenses in 2019. of the amount paid $30,000 was for expenses incurred on account in 2018. In addition, Conan incurred $42,000 of expenses in 2019, which will not be paid until 2020 Instructions: prepare adjusting entries and post expenseses in ledger in 31\12\2019 C) Prepaid Insurance $9,900. The company has separate insurance policies on its buildings and its motor vehicles, Policy B4564 on the building was purchased on April 1, 2018, for $7,200. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2019, for $4,500. This policy has a term of 2 years Instructions: prepare adjusting entries and post insurance policy in ledger in 31/12 2019 D) Salaries Payable So. There are eight salaried employees. Salaries are paid every Friday for the current week. Five employees receive a salary of $700 each per week, and three employees earn $500 each per week. Assume December 31 is a Tuesday. Employees do not work weekends. All employees worked the last 2 days of December Instructions prepare adjusting entries and post salaries expense in ledger in 31/12/2019 The trial balance of Syed Moiz Co shown below does not balance SYED MOIZ CO. Trial Balance June 30, 2019 Debit Credit Cash $6,340 Accounts Receivable $ 2,731 Supplies 1,200 Equipment 2,600 Accounts Payable 4,720 Accumulated of dep 200 Unearned Revenue 2,100 S. Moiz, Capital 8.300 S. Moiz, Drawing 1.800 Good Will 5,000 Mortgage notes payable (3000$ within one year) 7,000 Service Revenue 2,781 Prepaid insurance 500 Salaries Expense 3,900 Office Expense 1,030 $22,561 $27.641 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 in payment of its account was debited for $480, and Accounts Receivable was credited for the same amount. The actual collection was for $840. 2 The purchase of a computer on account for $620 was recorded as a debit to Supplies for $620 and a credit to Accounts Payable for $620. 3. The withdrawal of $600 cash for Moiz's personal use was debited to Salaries Expense for $60 and credited to Cash for $60 Instructions a) Prepare a correct trial balance. The trial balance of Syed Moiz Co. shown below does not balance SYED MOIZ CO. Trial Balance June 30, 2019 Debit Credit Cash $6,340 Accounts Receivable $ 2,731 Supplies 1,200 Equipment 2,600 Accounts Payable 4,720 Accumulated of dep 200 Unearned Revenue 2,100 S. Moiz Capital 8,300 S. Moiz, Drawing 1.800 Good Will 5,000 Mortgage notes payable (3000s within one year) 7,000 Service Revenue 2781 Prepaid insurance 500 Salaries Expense 3,900 Office Expense 1,030 $22,561 $27.641 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 in payment of its account was debited for $480, and Accounts Receivable was credited for the same amount. The actual collection was for $840, 2. The purchase of a computer on account for $620 was recorded as a debit to Supplies for $620 and a credit to Accounts Payable for $620 3. The withdrawal of $600 cash for Moiz's personal use was debited to Salaries Expense for $60 and credited to Cash for $60. Instructions a) Prepare a correct trial balance. A) Conan Industries collected $100,000 from customers in 2019. Of the amount collected, $25,000 was from revenue eamed on account in 2018. In addition, Conan earned $40,000 of revenue in 2019, which will not be collected until 2020, Instructions prepare adjusting entries and post revenues in ledger in 31\12\2019 B) Conan Industries also paid $78,000 for expenses in 2019. of the amount paid $30,000 was for expenses incurred on account in 2018. In addition, Conan incurred $42,000 of expenses in 2019, which will not be paid until 2020 Instructions: prepare adjusting entries and post expenseses in ledger in 31\12\2019 C) Prepaid Insurance $9,900. The company has separate insurance policies on its buildings and its motor vehicles, Policy B4564 on the building was purchased on April 1, 2018, for $7,200. The policy has a term of 3 years. Policy A2958 on the vehicles was purchased on January 1, 2019, for $4,500. This policy has a term of 2 years Instructions: prepare adjusting entries and post insurance policy in ledger in 31/12 2019 D) Salaries Payable So. There are eight salaried employees. Salaries are paid every Friday for the current week. Five employees receive a salary of $700 each per week, and three employees earn $500 each per week. Assume December 31 is a Tuesday. Employees do not work weekends. All employees worked the last 2 days of December Instructions prepare adjusting entries and post salaries expense in ledger in 31/12/2019 The trial balance of Syed Moiz Co shown below does not balance SYED MOIZ CO. Trial Balance June 30, 2019 Debit Credit Cash $6,340 Accounts Receivable $ 2,731 Supplies 1,200 Equipment 2,600 Accounts Payable 4,720 Accumulated of dep 200 Unearned Revenue 2,100 S. Moiz, Capital 8.300 S. Moiz, Drawing 1.800 Good Will 5,000 Mortgage notes payable (3000$ within one year) 7,000 Service Revenue 2,781 Prepaid insurance 500 Salaries Expense 3,900 Office Expense 1,030 $22,561 $27.641 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 in payment of its account was debited for $480, and Accounts Receivable was credited for the same amount. The actual collection was for $840. 2 The purchase of a computer on account for $620 was recorded as a debit to Supplies for $620 and a credit to Accounts Payable for $620. 3. The withdrawal of $600 cash for Moiz's personal use was debited to Salaries Expense for $60 and credited to Cash for $60 Instructions a) Prepare a correct trial balance