[MAYAR]

Q:how do I make Ledger and Journal reveals the following Errors
Asked by Rekha68 On Feb 15, 2010
Instructions
From this information prepare a corrected trial balance.

E3-4
(Corrected Trial Balance) The trial balance of Oakley Co. Does not balance.


OAKLEY CO.
TRIAL BALANCE
JUNE 30, 2010

Debit
Credit
Cash

$ 2,870
Accounts Receivable
$ 3,231

Supplies
800

Equipment
3,800

Accounts Payable

2,666
Unearned Service Revenue
1,200

Common Stock

6,000
Retained Earnings

3,000
Service Revenue

2,380
Wages Expense
3,400

Office Expense
940


$13,371
$16,916



Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors.
->>>>Cash and Unearned Revenues have the incorrect normal balances.

1.
Cash received from a customer on account was debited for $370, and Accounts Receivable was credited for the same amount. The actual collection was for $730.
->>>Credit Cash 370 Debit A/R 370 -->>Debit Cash 730 Credit A/R 730

2.
The purchase of a computer printer on account for $500 was recorded as a debit to Supplies for $500 and a credit to Accounts Payable for $500.
->>> Credit Supplies 500 Debit Equipment 500

3.
Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89.
-->>Credit Service Revenue 801




4.
A payment of $65 for telephone charges was recorded as a debit to Office Expense for $65 and a debit to Cash for $65.

-->>>Credit Cash 130
5.
When the Unearned Service Revenue account was reviewed, it was found that $225 of the balance was earned prior to June 30.
--->>Debit Unearned Service Revenue 225 Credit Service Rev 225
6.
A debit posting to Wages Expense of $670 was omitted.
--->>>Debit Salaries Wage Expense 670 Credit Cash 670
7.
A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260.
--->Debit to A/P for 466


8.
A dividend of $575 was debited to Wages Expense for $575 and credited to Cash for $575.

---->Debit Dividend 575
Instructions
Prepare a correct trial balance. (Note: It may be necessary to add one or more accounts to the trial balance.)

Help. Still having problems balancing even with the corrections I made

[ChayceH19]

Just did this exact problem myself. You can't really tell from the format on this page, but the issue is that on the initial trial balance Cash is credit when it should always be a debit, and Unearned Service Revenue is a debit when all Revenue accounts are credits. After you fix that, make the other adjustments and it should come out correctly.