The trial balance of the Jason Company Ltd. shown below does not balance.

Your review of the ledger reveals that each account has a normal balance. You also discover the following errors.
1. The totals of the debit sides of Prepaid Insurance, Accounts Payable, and Utilities Expense were each understated £100.
2. Transposition errors were made in Accounts Receivable and Service Revenue. Based on postings made, the correct balances were £2,570 and £8,960, respectively.
3. A debit posting to Salaries and Wages Expense of £200 was omitted.
4. A £1,000 cash dividend was debited to Share Capital-Ordinary for £1,000 and credited to Cash for £1,000.
5. A £520 purchase of supplies on account was debited to Equipment for £520 and credited to Cash for £520.
6. A cash payment of £450 for advertising was debited to Advertising Expense for £45 and credited to Cash for £45.
7. A collection from a customer for £420 was debited to Cash for £420 and credited to Accounts Payable for £420.
Instructions
Prepare a correct trial balance. Note that the chart of accounts includes the following: Dividends and Supplies.

Transcribed Image Text:

JASON COMPANY LTD Trial Balance May 31, 2017 Debit Credit Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Unearned Service Revenue Share Capital-Ordinary Service Revenue Salaries and Wages Expense Advertising Expense Utilities Expense £ 3,850 700 12,000 560 8,690 4,200 800 £30,800 £ 2,750 4,500 11,700 1,100 £20,050