(L. OBJ. 2, 5) Correcting errors in a trial balance [15—25 min]
The trial balance for Gold Rush Exploration Company does not balance.
The following errors were detected:
a. The cash balance is overstated by $2,000.
b. Rent expense of $390 was erroneously posted as a credit rather than a debit.
c. A $6,600 credit to Service revenue was not posted.
d. A $200 debit to Accounts receivable was posted as $20.
e. The balance of Utilities expense is understated by $10.
f. A $200 purchase of supplies on account was neither journalized nor posted.
g. Exploration equipment should be $19,130.
Requirement
1. Prepare the corrected trial balance at October 31, 2012. Journal entries are not required.
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