Description of this paper

Trial balance of Michels Co does not balance




Trial balance of Michels Co does not balance;This trial balance of Michels Co. does not balance.;Transtutors001_42f0cf6d-c990-46ba-8c3e-6;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 $780, and Accounts Receivable was credited for the same amount. The actual collection was for $870.;2. The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340.;3. Services were performed on account for a client for $900. Accounts Receivable was debited for $90 and Service Revenue was credited for $900.;4. A debit posting to Salaries and Wages Expense of $700 was omitted.;5. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260.;6. Payment of a $600 cash dividend to Michels? stockholders was debited to Salaries and Wages Expense for $600 and credited to Cash for $600.;Instructions;Prepare the correct trialbalance.


Paper#29408 | Written in 18-Jul-2015

Price : $37