Originally Posted by
djay01
This is where I am at right now.
Debit Credit Items added
cash 5498
a/r 2913 163
prepaid ins 717 104
equip 8031
a/p 5038 104
property tax payables 563
M. Sterling Capital 11865 1010
Service Revenue 6690
Salaries expense 3974 177
advertising expense 1530 46
propery tax expense 934 104
supplies 560
24157 24156
Transposition errors were main in a/r and service revenue
2570 and 6960
A 1010 cash drawing by owner was debited to Capital and credited to cash for 1010.00
A 560 supplies purchased was debited to equipment for 560 and credited to cash for 560
A cash payment of 46.00 for advertising was debited to advertising expense for 46 and credited to cash for 46.00
From where I sit you haven't dealt with some of the transactions and adjustments
Equipment needs to be adjusted now you have moved the incorrect allocation to supplies
You didn't adjust the transposition in Accounts Receivable
In my opinion the cash drawing and the advertising were correctly allocated
Therefore that would leave your trial balance out by 208 suggesting that amendment of three accounts for one error of 104 might be incorrect or incorrectly stated
5498 0 5498 0 5498
2750 180 2570 -163 2407
613 104 717 0 717
8031 0 8031 -560 7471
3797 0 3797 177 3974
1484 0 1484 0 1484
830 104 934 0 934
0 560 560
23003 23031 23045
0 0
4934 104 5038 -163 4875
563 0 563 0 563
10855 0 10855 0 10855
6690 270 6960 0 6960
23042 23416 23253
-39 -385 -208
Click on reply to see the tables properly formatted