The following trial balance of Marigold Traveler Corporation does not balance.Marigold Traveler CorporationTrial BalanceApril 30, 2020 Debit CreditCash $6,012 Accounts Receivable 5,290 Supplies 3,017 Equipment 6,150 Accounts Payable $7,094 Common Stock 8,050 Retained Earnings 2,050 Service Revenue 5,250 Office Expense 4,370 $24,839 $22,444 An examination of the ledger shows these errors.1. Cash received from a customer on account was recorded (both debit and credit) as $1,630 instead of $1,900.2. The purchase on account of a computer costing $2,931 was recorded as a debit to Office Expense and a credit to Accounts Payable.3. Services were performed on account for a client, $2,300, for which Accounts Receivable was debited $2,300 and Service Revenue was credited $275.4. A payment of $145 for telephone charges was entered as a debit to Office Expense and a debit to Cash.5. The Service Revenue account was totaled at $5,250 instead of $5,330.From this information prepare a corrected trial balance.MARIGOLD TRAVELER CORPORATIONTrial Balancechoose the accounting period Debit Creditenter an account title$enter a debit balance $enter a credit balanceenter an account titleenter a debit balance enter a credit balanceenter an account titleenter a debit balance enter a credit balanceenter an account titleenter a debit balance enter a credit balanceenter an account titleenter a debit balance enter a credit balanceenter an account titleenter a debit balance enter a credit balanceenter an account titleenter a debit balance enter a credit balanceenter an account titleenter a debit balance enter a credit balanceenter an account titleenter a debit balance enter a credit balanceTotals$enter a total for the debit column $enter a total for the credit column Save for Later

The preparation of corrected Trial Balance of Marigold Traveller Corporation is shown hereunder :…

Answered: From this information prepare a…

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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The following trial balance of Marigold Traveler Corporation does not balance.

Marigold Traveler Corporation Trial Balance April 30, 2020
	Debit		Credit
Cash		$6,012
Accounts Receivable		5,290
Supplies		3,017
Equipment		6,150
Accounts Payable				$7,094
Common Stock				8,050
Retained Earnings				2,050
Service Revenue				5,250
Office Expense		4,370
		$24,839		$22,444

An examination of the ledger shows these errors.

1.		Cash received from a customer on account was recorded (both debit and credit) as $1,630 instead of $1,900.
2.		The purchase on account of a computer costing $2,931 was recorded as a debit to Office Expense and a credit to Accounts Payable.
3.		Services were performed on account for a client, $2,300, for which Accounts Receivable was debited $2,300 and Service Revenue was credited $275.
4.		A payment of $145 for telephone charges was entered as a debit to Office Expense and a debit to Cash.
5.		The Service Revenue account was totaled at $5,250 instead of $5,330.

From this information prepare a corrected trial balance.

MARIGOLD TRAVELER CORPORATION Trial Balance choose the accounting period
	Debit	Credit
enter an account title	$enter a debit balance	$enter a credit balance
enter an account title	enter a debit balance	enter a credit balance
enter an account title	enter a debit balance	enter a credit balance
enter an account title	enter a debit balance	enter a credit balance
enter an account title	enter a debit balance	enter a credit balance
enter an account title	enter a debit balance	enter a credit balance
enter an account title	enter a debit balance	enter a credit balance
enter an account title	enter a debit balance	enter a credit balance
enter an account title	enter a debit balance	enter a credit balance
Totals	$enter a total for the debit column	$enter a total for the credit column

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