Question

roblem 3-07A this trial balance of Crane Company does not balance. CRANE COMPANY Trial Balance June 30, 2022 Debit Credit $ 5,690 $5,790 2,000 5,600 6,297 Accounts Receivable Supplies Equipment Accounts Payable Unearned Service Revenue Common Stock Dividends Service Revenue Salaries and Wages Expense Utilities Expense 2,400 11,600 800 6,080 3,520 950 $21,060 $29,667 Each of the listed accounts has a normal balance per the general ledger. mination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $790, and Accounts Receivable was credited for the same amount. The actual collection was for $970. 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 $740 was omitted. 5. A payment on account for $207 was credited to Cash for $207 and credited to Accounts Payable for $270. 6. Payment of a $700 cash dividend to Crane Company's stockholders was debited to Salaries and Wages Expense for $700 and credited to Cash for $700. 7. The amounts for two accounts with normal balances were listed in the wrong column

Answer 1

Trial Balance
June 30,2022
	Debit	Credit
Cash	5870		=5690+(970-790)
Accounts Receivable	6420		=5790-(970-790)+(900-90)
Supplies	1660		=2000-340
Equipment	5940		=5600+340
Accounts Payable		5820	=6297-270-207
Unearned Service Revenue		2400
Common Stock		11600
Dividends	1500		=800+700
Service Revenue		6080
Salaries and Wages expense	3560		=3520+740-700
Utilities expense	950
	25900	25900