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View Policies Current Attempt in Progress The trial balance of the Oriole Company shown below does not balance. ORIOLE COMPANY Trial Balance June 30, 2022

View Policies

Current Attempt in Progress

The trial balance of the Oriole Company shown below does not balance.

ORIOLE COMPANY Trial Balance June 30, 2022
Debit Credit

Cash

$6,000

Accounts Receivable

7,800

Supplies

600

Equipment

8,400

Accounts Payable

$13,600

Common Stock

1,618

Dividends

1,550

Service Revenue

15,500

Salaries and Wages Expense

3,600

Maintenance and Repairs Expense

1,500

Totals

$29,450

$30,718

An examination of the ledger and journal reveals the following errors:

1. Each of the above listed accounts has a normal balance per the general ledger.
2. Cash of $410 received from a customer on account was debited to Cash $500 and credited to Accounts Receivable $500.
3. Dividends of $420 paid to stockholders were posted as a credit to Dividends, $420, and a credit to Cash $420.
4. Salaries and Wages Expense of $420 was omitted from the trial balance.
5. The purchase of equipment on account for $730 was recorded as a debit to Maintenance and Repairs Expense and a credit to Accounts Payable for $730.
6. Services were performed on account for a customer, $550, for which Accounts Receivable was debited $550 and Service Revenue was credited $55.
7. A payment on account for $230 was credited to Cash for $230 and credited to Accounts Payable for $273.

Prepare a correct trial balance.

ORIOLE COMPANY Trial Balance For the Month Ended June 30, 2022June 30, 2022For the Year Ended June 30, 2022

Debit

Credit

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$enter a credit balance

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$enter a total for the debit column

$enter a total for the credit column

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