Question

The trial balance of Amanda's Candies, Inc., at September 30, 2014 does not balance: (Click the icon to view the trial balance.) The accounting records hold the following errors: a. Recorded a $400 cash revenue transaction by debiting Accounts Receivable. The credit entry was correct. b. Posted a $2,000 credit to Accounts Payable as $200. c. Did not record utilities expense or the related account payable in the amount of $340. d. Understated Common Stock by $500. e. Omitted Insurance Expense of $3,900 from the trial balance. Requirement 1. Prepare the correct trial balance at September 30, 2014, complete with a heading. Journal entries are not required. A correct trial balance will start with the appropriate header. Then enter the correct account balances after you adjust for the errors found in the investigation. Total the debits and credits. Amanda's Candies, Inc. Trial Balance September 30, 2014

Answer 1

Amanda's Candies, Inc.

Trial Balance

September 30, 2014

Cash	14,700
Accounts Receivable	12,200
Inventory	16,600
Supplies	800
Land	52,000
Accounts Payable		14,140
Common Stock		47,600
Sales Revenue		42,800
Salary Expenses	1,900
Rent Expenses	1,200
Utility Expenses	1,240
Insurance Expenses	3,900
Total	1,04,540	1,04,540