Question

The trial balance of ABC Co. does not balance. АВС CO. TRIAL BALANCE JUNE 30, 2019 Debit Credit Cash 0 5740 Accounts Receivable 6462 0 Supplies 1600 0 Equipment 7600 0 Accounts Payable 0 5332 Unearned Service Revenue 2400 0 Common Stock 0 12000 Retained Earnings 0 6000 Service Revenue 0 4760 Wages Expense 6800 0 Office Expense 1880 0 26742 33832 Checking of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $740, and Accounts Receivable was credited for the same amount. The actual collection was for $1460. 2. The purchase of an equipment on account for $1000 was recorded as a debit to Supplies for $500 and a credit to Accounts Payable for $1000. 3. When the Unearned Service Revenue account was reviewed, it was found that $450 of the balance was earned prior to June 30. 4. Services were performed on account for a client for $1764. Accounts Receivable was debited for $1764 and Service Revenue was credited for $162. 5. A debit posting to Wages Expense of $1340 was omitted. 6. A payment of $130 for telephone charges was recorded as a debit to Office Expense for $130 and a debit to Cash for $130. 7. A payment on account for $412 was credited to Cash for $412 and credited to Accounts Payable for $420. 8. A dividend of $1150 was debited to Wages Expense for $1150 and credited to Cash for $1150.

Answer 1

Answer:

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Explanation: