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  • The Trial Balance of Learn For Life Child Care Does PDF

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    Ahsan Khan
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    The trial balance for Learn for Life Child Care does not balance due to several errors: cash is understated by $1,800, accounts receivable was recorded incorrectly as a credit instead of a debit, an expense was not recorded, equipment was recorded incorrectly, an expense is overstated, a payment was not recorded, a dividend was recorded incorrectly, and a revenue was understated. The document provides details on these errors and requests the corrected trial balance be prepared.

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    The trial balance for Learn for Life Child Care does not balance due to several errors: cash is understated by $1,800, accounts receivable was recorded incorrectly as a credit instead of a debit, an expense was not recorded, equipment was recorded incorrectly, an expense is overstated, a payment was not recorded, a dividend was recorded incorrectly, and a revenue was understated. The document provides details on these errors and requests the corrected trial balance be prepared.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    31 views1 page

    The Trial Balance of Learn For Life Child Care Does PDF

    Uploaded by

    Ahsan Khan
    The trial balance for Learn for Life Child Care does not balance due to several errors: cash is understated by $1,800, accounts receivable was recorded incorrectly as a credit instead of a debit, an expense was not recorded, equipment was recorded incorrectly, an expense is overstated, a payment was not recorded, a dividend was recorded incorrectly, and a revenue was understated. The document provides details on these errors and requests the corrected trial balance be prepared.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    The trial balance of Learn for Life Child Care does #351

    The trial balance of Learn for Life Child Care does not balance.The following errors are
    detected:a. Cash is understated by $1,800.b. A $3,900 debit to Accounts Receivable was
    posted as a credit.c. A $ 1,200 purchase of office supplies on account was neither journalized
    nor posted.d. Equipment was incorrectly transferred from the ledger as $89,300. It should have
    been transferred as $81,500.e. Salaries Expense is overstated by $500.£ A $600 cash payment
    for advertising expense was neither journalized nor posted.g. A $ 100 cash dividend was
    incorrectly journalized as $ 1,000.h. Service Revenue was understated by $4,200.i. A 12-month
    insurance policy was posted as a $1,300 credit to Prepaid Insurance. Cash was posted
    correctly.Prepare the corrected trial balance as of May 31, 2017. Journal entries are not
    required.View Solution:
    The trial balance of Learn for Life Child Care does

    ANSWER
    http://paperinstant.com/downloads/the-trial-balance-of-learn-for-life-child-care-does/

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