Correcting errors in a trial balance [15-25 min]The trial balance for Treasure Hunt Explor...

Correcting errors in a trial balance [15-25 min]

The trial balance for Treasure Hunt Exploration Company does not balance.

The following errors were detected:

a. The cash balance is overstated by $1,000.

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b. Rent expense of $300 was erroneously posted as a credit rather than a debit.

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c. A $6,000 credit to Service revenue was not posted.

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d. A $500 debit to Accounts receivable was posted as $50.

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e. The balance of Utilities expense is understated by $90.

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f. A $600 purchase of supplies on account was neither journalized nor posted.

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g. Exploration equipment should be $17,160.

Requirement

1. Prepare the corrected trial balance at July 31, 2012. Journal entries are not required.