Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Cash $ 14.000 Accounts receivable 13.300 The trial balance of Amanda's Candies, Inc., at September 30, 2014 does not balance: (Click the icon to view
Cash $ 14.000 Accounts receivable 13.300 The trial balance of Amanda's Candies, Inc., at September 30, 2014 does not balance: (Click the icon to view the trial balance.) The accounting records hold the following errors: a. Recorded a $300 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 account payable in the amount of $670. d. Understated Common Stock by $500 e. Omitted Insurance Expense of $3,500 from the trial balance. Requirement 1. Prepare the correct trial balance at September 30, 2014, complete with a heading. Journal entries are not required. 17.400 200 Inventory Supplies Land Accounts payable Common stock 56.000 $ 12.300 47.300 A correct trial balance will start with the appropriate header. Then enter the correct account balances after you adjust for the errors fol 46.900 Sales revenue Salary expense Rent expense 2.000 600 900 Utilities expense 104,400 $ 106,500 Total Choose from any drop-down list and then click Check Answer. Print Done
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