Question

Question 1 of 3 View Policies Current Attempt in Progress The following trial balance of Blossom Ltd., at the end of its first year of operations, June 30, 2021, does not balance: Debit Credit $1,241 $2,610 860 3.200 600 2.865 1,200 Cash Accounts receivable Supplies Equipment Accumulated depreciation-equipment Accounts payable Deferred revenue Common shares Dividends Declared Service revenue Salaries expense Office expense Depreciation expense Income tax expense 1,000 800 8,519 3.400 910 600 365 $14.545 $13.625 Each of the listed accounts has a normal balance per the general ledger. However, each account may not have been listedi annronriate debitor credit column. or may not belone in the trial balance at all. In addition an examination of the general search

Answer 1

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Blossom	Error	Corrections	Corrected
Trial Balance	Debit	Credit	Debit	Credit	Debit	Credit	Event No.
Cash		1,241.00	2,662.00	1,000.00	421.00		Event 1 & 5
Accounts Receivable	2,610.00			180.00	2,430.00		Event 1
Supplies	860.00			320.00	540.00		Event 2
Equipment	3,200.00		320.00		3,520.00		Event 2
Accumulated Depreciation- Equipment	600.00			1,200.00		600.00
Accounts Payable		2,865.00				2,865.00
Deferred revenue	1,200.00			2,400.00		1,200.00
Common Shares		1,000.00				1,000.00
Dividends	800.00				800.00
Service Revenue		8,519.00		702.00		9,221.00	Event 3
Salaries Expense	3,400.00		900.00		4,300.00		Event 4
Office Expense	910.00				910.00
Depreciation Expense	600.00				600.00
Income Tax Expense	365.00				365.00
Rent Expense			1,000.00		1,000.00		Event 5
Total	14,545.00	13,625.00	4,882.00	5,802.00	14,886.00	14,886.00