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Maurinko [17]
3 years ago
5

An inexperienced bookkeeper prepared the following trial balance that does not balance. Prepare a correct trial balance, assumin

g all account balances are normal.
CULLUMBER COMPANY
Trial Balance December 31, 2017
Debit Credit
Cash $22,720
Prepaid Insurance $ 4,860
Accounts Payable 4,420
Unearned Service Revenue 3,890
Common Stock 10,000
Retained Earnings 6,600
Dividends 7,020
Service Revenue 26,960
Salaries and Wages Expense 12,580
Rent Expense 4,690
$39,190 $64,550
Business
1 answer:
max2010maxim [7]3 years ago
4 0

Answer:

DEBIT SIDE $51,870

CREDIT SIDE $51,870

Explanation:

Preparation of the correct trial balance,

Trial balance

DEBIT SIDE

Dr Cash 22,720

Dr Prepaid insurance 4,860

Dr Dividends 7,020

Dr Salaries and wages expense 12,580

Dr Rent expense 4,690

TOTAL $51,870

CREDIT SIDE

Cr Account payable 4,420

Cr Unearned service revenue 3,890

Cr Common Stock 10,000

Cr Retained Earnings 6,600

Cr Service revenue 26,960

TOTAL $51,870

Therefore the corrected trial balance DEBIT SIDE is $51,870 while the CREDIT SIDE is $51,870

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