D Rapidide (上り: Cengage × Ceng 4 x MindTal × Gtra keAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator-assignm eBook Sidney Lexington, Capital 144,150 Sidney Lexington, Drawing 15,000 Fees Earned 429,850 Wages Expense 270,000 Rent Expense 63,000 Advertising Expense 25,200 Miscellaneous Expense 5,100 608,125 636,000 The debit and credit totals are not equal as a result of the following errors: a. The cash entered on the trial balance was overstated by $7,000. b. A cash receipt of $8,200 was posted as a debit to Cash of $2,800. c. A debit of $16,500 to Accounts Receivable was not posted. d. A return of $125 of defective supplies was erroneously posted as a $1,250 credit to Supplies. e. An insurance policy acquired at a cost of $3,600 was posted as a credit to Prepaid Insurance. f. The balance of Notes Payable was understated by $9,000. g. A credit of $10,000 in Accounts Payable was overlooked when determining the balance of the account. h. A debit of $5,000 for owner withdrawals was posted as a credit to Sidney Lexington, Capital. i. The balance of $60,300 in Rent Expense was entered as $63,000 in the trial balance. j. Gas, Electricity, and Water Expense, with a balance of $16,350, was omitted from the trial balance. Required: 1. Prepare a corrected unadjusted trial balance as of May 31, 20Y6. List all accounts in the order of Assets, Liab Expenses. If an amount box does not require an entry, leave it blank. Check My Work The Lexington Co. Desk 1 31 D A
D Rapidide (上り: Cengage × Ceng 4 x MindTal × Gtra keAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator-assignm eBook Sidney Lexington, Capital 144,150 Sidney Lexington, Drawing 15,000 Fees Earned 429,850 Wages Expense 270,000 Rent Expense 63,000 Advertising Expense 25,200 Miscellaneous Expense 5,100 608,125 636,000 The debit and credit totals are not equal as a result of the following errors: a. The cash entered on the trial balance was overstated by $7,000. b. A cash receipt of $8,200 was posted as a debit to Cash of $2,800. c. A debit of $16,500 to Accounts Receivable was not posted. d. A return of $125 of defective supplies was erroneously posted as a $1,250 credit to Supplies. e. An insurance policy acquired at a cost of $3,600 was posted as a credit to Prepaid Insurance. f. The balance of Notes Payable was understated by $9,000. g. A credit of $10,000 in Accounts Payable was overlooked when determining the balance of the account. h. A debit of $5,000 for owner withdrawals was posted as a credit to Sidney Lexington, Capital. i. The balance of $60,300 in Rent Expense was entered as $63,000 in the trial balance. j. Gas, Electricity, and Water Expense, with a balance of $16,350, was omitted from the trial balance. Required: 1. Prepare a corrected unadjusted trial balance as of May 31, 20Y6. List all accounts in the order of Assets, Liab Expenses. If an amount box does not require an entry, leave it blank. Check My Work The Lexington Co. Desk 1 31 D A
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:D
Rapidide
(上り:
Cengage ×
Ceng 4 x
MindTal
×
Gtra
keAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignmentSessionLocator-assignm
eBook
Sidney Lexington, Capital
144,150
Sidney Lexington, Drawing
15,000
Fees Earned
429,850
Wages Expense
270,000
Rent Expense
63,000
Advertising Expense
25,200
Miscellaneous Expense
5,100
608,125
636,000
The debit and credit totals are not equal as a result of the following errors:
a. The cash entered on the trial balance was overstated by $7,000.
b. A cash receipt of $8,200 was posted as a debit to Cash of $2,800.
c. A debit of $16,500 to Accounts Receivable was not posted.
d. A return of $125 of defective supplies was erroneously posted as a $1,250 credit to Supplies.
e. An insurance policy acquired at a cost of $3,600 was posted as a credit to Prepaid Insurance.
f. The balance of Notes Payable was understated by $9,000.
g. A credit of $10,000 in Accounts Payable was overlooked when determining the balance of the account.
h. A debit of $5,000 for owner withdrawals was posted as a credit to Sidney Lexington, Capital.
i. The balance of $60,300 in Rent Expense was entered as $63,000 in the trial balance.
j. Gas, Electricity, and Water Expense, with a balance of $16,350, was omitted from the trial balance.
Required:
1. Prepare a corrected unadjusted trial balance as of May 31, 20Y6. List all accounts in the order of Assets, Liab
Expenses. If an amount box does not require an entry, leave it blank.
Check My Work
The Lexington Co.
Desk 1
31
D
A
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