when the ledger and other records are reviewed you discover the following 1 the debi 551200
EX 2-18 Errors in trial balance
The following preliminary unadjusted trial balance of Seats-For-You Co., a sports ticket agency, does not balance:
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when the ledger and other records are reviewed you discover the following 1 the debi 551200
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Seats-For-You Co. |
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|
Unadjusted Trial Balance |
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March 31, 2012 |
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|
Debit |
Credit |
|
|
Balances |
Balances |
|
|
Cash |
98,000 |
|
|
Accounts Receivable |
17,800 |
|
|
Prepaid Insurance |
9,000 |
|
|
Equipment |
7,500 |
|
|
Accounts Payable |
16,500 |
|
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Unearned Rent |
11,600 |
|
|
Gina Ness, Capital |
81,700 |
|
|
Gina Ness, Drawing |
13,000 |
|
|
Service Revenue |
125,000 |
|
|
Wages Expense |
60,000 |
|
|
Advertising Expense |
11,300 |
|
|
Miscellaneous Expense |
15,400 |
|
|
229,300 |
237,500 |
When the ledger and other records are reviewed, you discover the following: (1) the debits and credits in the cash account total $98,000 and $82,500, respectively; (2) a billing of $8,000 to a customer on account was not posted to the accounts receivable account; (3) a payment of $3,600 made to a creditor on account was not posted to the accounts payable account; (4) the balance of the unearned rent account is $5,400; (5) the correct balance of the equipment account is $75,000; and (6) each account has a normal balance.
Prepare a corrected unadjusted trial balance.
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