Question

OK ORION Downloadable a Textbook CRANE COMPANY Trial Balance June 30, 2022 $ 4,390 2,750 4,200 Cash Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Common Stock Dividends Service Revenue Salaries and Wages Expense Utilities Expense 3,150 10,200 800 4,680 3,530 945 $19,765 $24,157 Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $760, and Accounts Receivable was credited for the same amount. The actual collection was for $670. 2. The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340. 3. Services were performed on account for a client for $1,000. Accounts Receivable was debited for $100 and Service Revenue was credited for $1,000 4. A debit posting to Salaries and Wages Expense of $735 was omitted. 5. A payment on account for $207 was credited to Cash for $207 and credited to Accounts Payable for $270. 6. Payment of a $500 cash dividend to Crane Company's stockholders was debited to Salaries and Wages Expense for $500 and credited to Cash for $500 7. The amounts for two accounts with normal balances were listed in the wrong column Prepare the correct trial balance. (Hint: All accounts should have normal balances)

Answer 1

Trial Balance
June 30,2022
	Debit	Credit
Cash	4200		=4290-(760-670)
Accounts Receivable	5380		=4390+(760-670)+(1000-100)
Supplies	2410		=2750-340
Equipment	4540		=4200+340
Accounts Payable		4510	=4987-270-207
Unearned Service Revenue		3150
Common Stock		10200
Dividends	1300		=800+500
Service Revenue		4680
Salaries and Wages expense	3765		=3530+735-500
Utilities expense	945
	22540	22540