The following trial balance of Teal Co. does not balance.
|Unearned Service Revenue||1,429|
|Salaries and Wages Expense||3,629|
Each of the listed accounts should have 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 $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750.|
|2.||The purchase of a computer printer on account for $729 was recorded as a debit to Supplies for $729 and a credit to Accounts Payable for $729.|
|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.||A payment of $294 for telephone charges was recorded as a debit to Office Expense for $294 and a debit to Cash for $294.|
|5.||When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $554 was performed prior to June 30 (related to Unearned Service Revenue).|
|6.||A debit posting to Salaries and Wages Expense of $899 was omitted.|
|7.||A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260.|
|8.||A dividend of $804 was debited to Salaries and Wages Expense for $804 and credited to Cash for $804.|
Prepare a correct trial balance.
|Unearned Service Revenue||875||=1429-554|
|Salaries and wages expense||3724||=3629+899-804|
Exercise 3-4 The following trial balance of Teal Co. does not balance. TEAL CO. TRIAL BALANCE JUNE 30, 2017 De...