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Parrish Ch. 4 Pg. 95 4-1 (Analysis of Period-end Measurements and Adjusting Process) Correcting The Trial Balance:  DEBITS AND CREDITS ARE NOT EQUAL Please show me the correct answer to the following problem on the trial balance sheet and how you came to the answer. ACCOUNTS LISTED UNDER DEBIT  Cash $470550 Accounts Receivable $41,800 Land $170000 Building $170000 Trucks $232000 Accumulated Depreciation $100000 Mortgage Payable $298,00 Moving Service Revenue $78000 Salaries Expense $30650 Repairs Expense $1250 Interest Expense $3000 TOTAL FOR DEBITS: $1785250 ACCOUNTS LISTED UNDER CREDITS Accounts Payable $50750 Dividends Payable $8000 Common Stock $800000 Dividends $8000 Gasoline Expense $17500 CREDITS TOTAL $884250

Parrish Ch. 4 Pg. 95 4-1 (Analysis of Period-end Measurements and Adjusting Process) Correcting The Trial Balance:  DEBITS AND CREDITS ARE NOT EQUAL Please show me the correct answer to the following problem on the trial balance sheet and how you came to the answer. ACCOUNTS LISTED UNDER DEBIT  Cash $470550 Accounts Receivable $41,800 Land $170000 Building $170000 Trucks $232000 Accumulated Depreciation $100000 Mortgage Payable $298,00 Moving Service Revenue $78000 Salaries Expense $30650 Repairs Expense $1250 Interest Expense $3000 TOTAL FOR DEBITS: $1785250 ACCOUNTS LISTED UNDER CREDITS Accounts Payable $50750 Dividends Payable $8000 Common Stock $800000 Dividends $8000 Gasoline Expense $17500 CREDITS TOTAL $884250

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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Parrish Ch. 4 Pg. 95 4-1

(Analysis of Period-end Measurements and Adjusting Process)

Correcting The Trial Balance:  DEBITS AND CREDITS ARE NOT EQUAL

Please show me the correct answer to the following problem on the trial balance sheet and how you came to the answer.

ACCOUNTS LISTED UNDER DEBIT 

Cash $470550

Accounts Receivable $41,800

Land $170000

Building $170000

Trucks $232000

Accumulated Depreciation $100000

Mortgage Payable $298,00

Moving Service Revenue $78000

Salaries Expense $30650

Repairs Expense $1250

Interest Expense $3000

TOTAL FOR DEBITS: $1785250

ACCOUNTS LISTED UNDER CREDITS

Accounts Payable $50750

Dividends Payable $8000

Common Stock $800000

Dividends $8000

Gasoline Expense $17500

CREDITS TOTAL $884250

 

 

 

 

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