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  • The Trial Balance of Creative Child Care Does Not Balance The PDF

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    Ahsan Khan
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    The trial balance for Creative Child Care does not balance due to several errors: cash is understated by $1,400; 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 revenue was understated. A corrected trial balance must be prepared to address these errors.

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    The trial balance for Creative Child Care does not balance due to several errors: cash is understated by $1,400; 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 revenue was understated. A corrected trial balance must be prepared to address these errors.

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    © All Rights Reserved
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    33 views1 page

    The Trial Balance of Creative Child Care Does Not Balance The PDF

    Uploaded by

    Ahsan Khan
    The trial balance for Creative Child Care does not balance due to several errors: cash is understated by $1,400; 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 revenue was understated. A corrected trial balance must be prepared to address these errors.

    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 Creative Child Care does not balance

    The #346
    The trial balance of Creative Child Care does not balance.The following errors are detected:a.
    Cash is understated by $1,400.b. A $3,900 debit to Accounts Receivable was posted as a
    credit.c. A $ 1,300 purchase of office supplies on account was neither journalized nor posted.d.
    Equipment was incorrectly transferred from the ledger as $84,300. It should have been
    transferred as $76,500.e. Salaries Expense is overstated by $300.£ A $200 cash payment for
    advertising expense was neither journalized nor posted.g. A $240 cash dividend was incorrectly
    journalized as $2,400.h. Service Revenue was understated by $4,500.i. A 12-month insurance
    policy was posted as a $1,800 credit to Prepaid Insurance. Cash was posted correctly.Prepare
    the corrected trial balance as of August 31, 2017. Journal entries are not required.View
    Solution:
    The trial balance of Creative Child Care does not balance The

    ANSWER
    http://paperinstant.com/downloads/the-trial-balance-of-creative-child-care-does-not-balance-the/

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