Question

The following trial balance of Orane Co. does not balance. CRANE CO TRIAL BALANCE JUNE 30, 2017 3-16 Ez 2-3 3.9 Cash Accounts Receivable Supplies Equipment 3,051 3,412 981 3,981 sults by Stud Accounts Payable 2,847 Unearned Service Revenue Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Office Expense 1,381 6,181 3,181 2.561 3,581 1,121 14,457$12-821 Each of the listed accounts should have a normal balance per the general ledger An examnation of the ledger and journal reveals the following errors 1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750 2. The parchase of a computer printer on account for $681 was recorded as a debit to Supplies for $681 and a credit to Accounts Payable for $681 3. Services were performed on account for a cient for $890. Accounts Receivabe was deited for $800 and Service Revenue was credted for $89. 4. A payment of $246 for telephone charges was recorded as a debit to cefice Expense for $246 and a debit to Cash for $246. 5. when the Unearned Servee Revenue account was reviewed· it was found that service revenue amounting to S506 was performed prior to June 30 (related to unearned Servce Revenue). 6. A debit posting to Salaries and Wages Expense of $851 was omitted 7. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260. 8. A dividend of $756 was debited to Salaries and Wages Expense for $756 and credited to Cash for $756

Answer 1

CRANE Co.
TRIAL BALANCE
JUNE 30, 2017
	Debit	Credit
Cash ($3,051 + $180 - $246 - $246)	$2,739
Accounts Receivable ($3,412 - $180)	$3,232
Supplies ($981 - $681)	$300
Equipment ($3,981 + $681)	$4,662
Accounts Payable ($2,847 - $206 - $260)		$2,381
Unearned Service Revenue ($1,381 - $506)		$875
Common Stock		$6,181
Retained Earnings		$3,181
Dividends	$756
Service Revenue ($2,561 + $801 + $506)		$3,868
Salaries and Wages Expenses ($3,581 + $851 - $756)	$3,676
Office Expenses	$1,121
Totals	$16,486	$16,486