Below is the trial balance for Winslow’s Auto Body. Winslow’s Auto Body Trial Balance For Month Ending April 30 1 Debits Credits 2 Cash $19,475.00 3 Accounts Receivable ? 4 Supplies 1,000.00 5 Equipment 15,000.00 6 Prepaid Insurance 500.00 7 Accounts Payable 2,500.00 8 Common Stock 17,000.00 9 Dividends 1,000.00 10 Fees Earned 49,600.00 11 Salary Expense 14,500.00 12 Rent Expense 9,000.00 13 Utilities Expense 1,400.00 14 Supplies Expense 3,900.00 15 Miscellaneous Expense 250.00 16 $55,000.00 $81,575.00 Required: What would be the new totals of the trial balance after errors are corrected? What would be the balance of Accounts Receivable? Analysis What would be the new balance of the trial balance after errors are corrected? What would be the balance of Accounts Receivable?
Below is the trial balance for Winslow’s Auto Body. Winslow’s Auto Body Trial Balance For Month Ending April 30 1 Debits Credits 2 Cash $19,475.00 3 Accounts Receivable ? 4 Supplies 1,000.00 5 Equipment 15,000.00 6 Prepaid Insurance 500.00 7 Accounts Payable 2,500.00 8 Common Stock 17,000.00 9 Dividends 1,000.00 10 Fees Earned 49,600.00 11 Salary Expense 14,500.00 12 Rent Expense 9,000.00 13 Utilities Expense 1,400.00 14 Supplies Expense 3,900.00 15 Miscellaneous Expense 250.00 16 $55,000.00 $81,575.00 Required: What would be the new totals of the trial balance after errors are corrected? What would be the balance of Accounts Receivable? Analysis What would be the new balance of the trial balance after errors are corrected? What would be the balance of Accounts Receivable?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
100%
Below is the trial balance for Winslow’s Auto Body.
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Winslow’s Auto Body
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Trial Balance
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|
For Month Ending April 30
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1
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Debits
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Credits
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2
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Cash
|
|
$19,475.00
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|
3
|
|
?
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|
|
4
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Supplies
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|
1,000.00
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|
5
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Equipment
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15,000.00
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|
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6
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Prepaid Insurance
|
|
500.00
|
|
7
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Accounts Payable
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2,500.00
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8
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Common Stock
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17,000.00
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|
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9
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Dividends
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1,000.00
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10
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Fees Earned
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49,600.00
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11
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Salary Expense
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14,500.00
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|
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12
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Rent Expense
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9,000.00
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|
13
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Utilities Expense
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1,400.00
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|
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14
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Supplies Expense
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3,900.00
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|
|
15
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Miscellaneous Expense
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250.00
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|
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16
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$55,000.00
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$81,575.00
|
Required:
| What would be the new totals of the trial balance after errors are corrected? What would be the balance of Accounts Receivable? |
Analysis
What would be the new balance of the trial balance after errors are corrected?
What would be the balance of Accounts Receivable?
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