Chapter3exercises - Exercise 1 Mappara has the following...

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Unformatted text preview: Exercise 1 Mappara has the following trial balance as of November 31 of this year : The debit and credit totals are not equal as a result of the following errors: a. The balance of cash was overstated by $2,500. b. A cash receipt of $3,100 was posted as a credit to Cash of $1,300. c. A debit of $1,250 to Accounts Receivable was not posted. d. A return of $168 of defective supplies was erroneously posted as a $186 credit to Supplies. e. An insurance policy acquired at a cost of $310 was posted as a credit to Prepaid Insurance. f. The balance of Notes Payable was overstated by $1,500. g. A credit of $75 in Accounts Payable was overlooked when the balance of the account was determined. h. A debit of $3,000 for a withdrawal by the owner was posted as a credit to Mappara Capital i. The balance of $5,250 in Advertising Expense was entered as $525 in the trial balance, j. Miscellaneous Expense, with a balance of $1,320, was omitted from the trial balance....
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This note was uploaded on 11/13/2010 for the course BA BA12345 taught by Professor Harry during the Spring '10 term at University of Economics and Technology.

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Chapter3exercises - Exercise 1 Mappara has the following...

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