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1. $200 debit to D. Hole, Withdrawals, was posted as a credit. 2. D. Hole, Withdrawals, was listed on the trial balance as a credit. 3. A Note Payable account with a credit balance of $2,400 was not listed on the trial balance. 4. The pencilled footings for Accounts Payable were debits of $5,320 and credits of $8,800. 5. A debit of $180 to Prepaid Rent was not posted. 6. The entry for office supplies bought for $60 was posted as a credit to Office Supplies. 7. A debit of $120 to Accounts Receivable was not posted. 8. A cash payment of $420 was credited to Cash for $240. 9. The pencilled footing of the credits to Cash was overstated by $400. 10. Utilities Expense of $260 was listed in the trial balance as $26.

1. $200 debit to D. Hole, Withdrawals, was posted as a credit. 2. D. Hole, Withdrawals, was listed on the trial balance as a credit. 3. A Note Payable account with a credit balance of $2,400 was not listed on the trial balance. 4. The pencilled footings for Accounts Payable were debits of $5,320 and credits of $8,800. 5. A debit of $180 to Prepaid Rent was not posted. 6. The entry for office supplies bought for $60 was posted as a credit to Office Supplies. 7. A debit of $120 to Accounts Receivable was not posted. 8. A cash payment of $420 was credited to Cash for $240. 9. The pencilled footing of the credits to Cash was overstated by $400. 10. Utilities Expense of $260 was listed in the trial balance as $26.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Need to correct trial balance please and thank you. 

1. $200 debit to D. Hole, Withdrawals, was posted as a credit. 2. D. Hole, Withdrawals, was listed on the trial balance as a credit. 3. A Note Payable account with a credit balance of $2,400 was not listed on the trial balance. 4. The pencilled footings for Accounts Payable were debits of $5,320 and credits of $8,800. 5. A debit of $180 to Prepaid Rent was not posted. 6. The entry for office supplies bought for $60 was posted as a credit to Office Supplies. 7. A debit of $120 to Accounts Receivable was not posted. 8. A cash payment of $420 was credited to Cash for $240. 9. The pencilled footing of the credits to Cash was overstated by $400. 10. Utilities Expense of $260 was listed in the trial balance as $26.
Transcribed Image Text:1. $200 debit to D. Hole, Withdrawals, was posted as a credit. 2. D. Hole, Withdrawals, was listed on the trial balance as a credit. 3. A Note Payable account with a credit balance of $2,400 was not listed on the trial balance. 4. The pencilled footings for Accounts Payable were debits of $5,320 and credits of $8,800. 5. A debit of $180 to Prepaid Rent was not posted. 6. The entry for office supplies bought for $60 was posted as a credit to Office Supplies. 7. A debit of $120 to Accounts Receivable was not posted. 8. A cash payment of $420 was credited to Cash for $240. 9. The pencilled footing of the credits to Cash was overstated by $400. 10. Utilities Expense of $260 was listed in the trial balance as $26.
Office Sales Cash Accounts Receivable Office Equipment Accounts Payable D. Hole, Capital D. Hole, Withdrawals Wages Expense Rent Expense Utilities Expense Office Supplies Prepaid Rent HAMPTON CO. TRIAL BALANCE JUNE 30, 2022 Lambasa Dr. 326000 566000 840000 260000 94000 2600 12000 18000 Cr. 572000 416000 1156000 70000
Transcribed Image Text:Office Sales Cash Accounts Receivable Office Equipment Accounts Payable D. Hole, Capital D. Hole, Withdrawals Wages Expense Rent Expense Utilities Expense Office Supplies Prepaid Rent HAMPTON CO. TRIAL BALANCE JUNE 30, 2022 Lambasa Dr. 326000 566000 840000 260000 94000 2600 12000 18000 Cr. 572000 416000 1156000 70000
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