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Required: From the information given below, complete the corrected trial balance of C. Canada Manufacturers. The Trial balance of C. Canada Manufacturers was prepared by an inexperienced bookkeeper. You have been asked to assist and prepare the trial balance for the business. In examining the general journal and the ledger accounts you discover the following information. 1. The correct balance in the Loan Payable account is $5 400. 2. A purchase of lawnmower fuel for cash of $180 was eroneously recorded as a purchase on credit. 3. The correct debits and credits in the Accounts Receivable totalled $7 600 and $5 400 respectively. 4. A $550 payment for salaries was not posted to the Cash at Bank account. 5. The debit to record a withdrawal of $600 in cash by the owner was not posted. Canada Manufacturers Trial balance as at 30 June 2019 Debit Credit Balanced Balances Cash at bank 2 400 Accounts receivable 530 420 Supplies Equipment Accounts payable Salaries payable Loan payable Capital Drawings 8 200 2 160 2 980 4 500 6 400 6 220 Service revenue 13 800 5 100 Salaries expense Rent expense Other expense 3 200 2 950

Required: From the information given below, complete the corrected trial balance of C. Canada Manufacturers. The Trial balance of C. Canada Manufacturers was prepared by an inexperienced bookkeeper. You have been asked to assist and prepare the trial balance for the business. In examining the general journal and the ledger accounts you discover the following information. 1. The correct balance in the Loan Payable account is $5 400. 2. A purchase of lawnmower fuel for cash of $180 was eroneously recorded as a purchase on credit. 3. The correct debits and credits in the Accounts Receivable totalled $7 600 and $5 400 respectively. 4. A $550 payment for salaries was not posted to the Cash at Bank account. 5. The debit to record a withdrawal of $600 in cash by the owner was not posted. Canada Manufacturers Trial balance as at 30 June 2019 Debit Credit Balanced Balances Cash at bank 2 400 Accounts receivable 530 420 Supplies Equipment Accounts payable Salaries payable Loan payable Capital Drawings 8 200 2 160 2 980 4 500 6 400 6 220 Service revenue 13 800 5 100 Salaries expense Rent expense Other expense 3 200 2 950

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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Required: From the information given below, complete the corrected trial balance of C. Canada Manufacturers. The Trial balance of C. Canada Manufacturers was prepared by an inexperienced bookkeeper. You have been asked to assist and prepare the trial balance for the business. In examining the general journal and the ledger accounts you discover the following information. 1. The correct balance in the Loan Payable account is $5 400. 2. A purchase of lawnmower fuel for cash of $180 was erroneously recorded as a purchase on credit. 3. The correct debits and credits in the Accounts Receivable totalled $7 600 and $5 400 respectively. 4. A $550 payment for salaries was not posted to the Cash at Bank account. 5. The debit to record a withdrawal of $600 in cash by the owner was not posted. C Canada Manufacturers Debit Credit Trial balance as at 30 June 2019 Balanced Balances Cash at bank 2 400 Accounts receivable 530 Supplies Equipment Accounts payable 420 8 200 2 160 2 980 Salaries payable Loan payable Сapital Drawings Service revenue Salaries expense Rent expense Other expense 4 500 6 400 6 220 13 800 5 100 3 200 2 950
Transcribed Image Text:Required: From the information given below, complete the corrected trial balance of C. Canada Manufacturers. The Trial balance of C. Canada Manufacturers was prepared by an inexperienced bookkeeper. You have been asked to assist and prepare the trial balance for the business. In examining the general journal and the ledger accounts you discover the following information. 1. The correct balance in the Loan Payable account is $5 400. 2. A purchase of lawnmower fuel for cash of $180 was erroneously recorded as a purchase on credit. 3. The correct debits and credits in the Accounts Receivable totalled $7 600 and $5 400 respectively. 4. A $550 payment for salaries was not posted to the Cash at Bank account. 5. The debit to record a withdrawal of $600 in cash by the owner was not posted. C Canada Manufacturers Debit Credit Trial balance as at 30 June 2019 Balanced Balances Cash at bank 2 400 Accounts receivable 530 Supplies Equipment Accounts payable 420 8 200 2 160 2 980 Salaries payable Loan payable Сapital Drawings Service revenue Salaries expense Rent expense Other expense 4 500 6 400 6 220 13 800 5 100 3 200 2 950
C Canada Manufacturers Debit Credit Trial balance as at 30 June 2019
Transcribed Image Text:C Canada Manufacturers Debit Credit Trial balance as at 30 June 2019
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