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V:V U Principles of Accounting 1 dlus > Case-3 The following trial balance was prepared from the ledger accounts of Arabella, Inc. When the trial
V:V U Principles of Accounting 1 dlus > Case-3 The following trial balance was prepared from the ledger accounts of Arabella, Inc. When the trial balance failed to balance, the accountant reviewed the records and discovered the following errors: a. The company received OMR 470 as payment for services rendered. The credit to Service Revenue was recorded correctly, but the debit to Cash was recorded as OMR 740. b. An OMR 430 receipt of cash that was received as a payment on accounts receivable was not recorded. c. An OMR 450 purchase of supplies on account was properly recorded as a debit to the Supplies account. However, the credit to Accounts Payable was not recorded d. Equipment valued at OMR 10,000 was contributed to the business in exchange for common stock. The entry to record the transaction was recorded as a OMR 10,000 credit to both the Equipment account and the Common Stock account. e. An OMR 200 rent payment was properly recorded as a credit to Cash. However, the Salaries Expense account was incorrectly debited for OMR 200. Arabella Inc. Unadjusted Trial Balance April 30, 2020 Mont Debit (OMR O NIR Supplies Prepaidance 2.400 200 Office Equipment 56.800 ined Earnings 56.720 OD 40,000 Operating Expense 65.240 Sales Expense 26,400 214. 233.670 Question No. 4 Required: Prepare a corrected trial balance. (10 marks) TRIAL BALANCE : U Principles of Accounting 1 Iu> .000 C Heidings Question No. 4 Required: Prepare a corrected trial balance. (10 marks) TRIAL BALANCE Partia Debit : U Principles of Accounting 1 Iu> .000 C Heidings Question No. 4 Required: Prepare a corrected trial balance. (10 marks) TRIAL BALANCE Partia Debit
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