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    khushbu.bakshi Posts: 2, Reputation: 1
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    Jan 5, 2012, 06:23 AM
    2.(Corrected Trial Balance) The trial balance of Wanda Landowska Company (shown on th
    2.(Corrected Trial Balance) The trial balance of Wanda Landowska Company (shown on the next page) does not balance. The review of the ledger reveals the following: (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $100. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,750 and $6,690, respectively. (d) A debit posting to Advertising Expense of $300 was omitted. (e) A $1,500 cash drawing by the owner was debited to Wanda Landowska, Capital, and credited to Cash.
    $ 4,800
    Accounts Receivable
    Prepaid Insurance
    $ 8,000
    Accounts Payable
    Property Tax Payable
    Wanda Landowska, Capital
    Service Revenue
    Salaries Expenses
    Advertising Expense
    Property Tax Expense
    Prepare a correct trial balance

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