AE3 accounting

AE3 accounting - AE3-4 (Corrected Trial Balance) The trial...

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AE3-4 (Corrected Trial Balance) The trial balance of Oakley Co. shown below 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 has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors. 1. Cash received from a customer on account was debited for $1,061, and Accounts Receivable was credited for the same amount. The actual collection was for $1,241. 2. The purchase of a computer printer on account for $513 was recorded as a debit to Supplies for $513 and a credit to Accounts Payable for $513. 3. Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89. 4.
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This note was uploaded on 11/30/2011 for the course ACC 101 taught by Professor B during the Fall '09 term at CUNY Baruch.

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AE3 accounting - AE3-4 (Corrected Trial Balance) The trial...

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