Services were performed on account for a client for $ 800. Accounts Receivable was debited for $ 800, and Service Revenue was credited for $ 80. 3. 4. A debit posting to Salaries and Wages Expense of $ 800 was omitted. 5. A payment of a balance due for $ 407 was credited to Cash for $ 407 and credited to Accounts Payable for $ 470. The withdrawal of $ 512 cash for Sandhu's personal use was debited to Salaries and Wages Expense for $512 and credited to Cash for $ 512. 6. Prepare a correct trial balance. (Hint: It helps to prepare the correct journal entry for the transaction described and compare it to the mistake made.) PINA COLADA CO. Trial Balance
Services were performed on account for a client for $ 800. Accounts Receivable was debited for $ 800, and Service Revenue was credited for $ 80. 3. 4. A debit posting to Salaries and Wages Expense of $ 800 was omitted. 5. A payment of a balance due for $ 407 was credited to Cash for $ 407 and credited to Accounts Payable for $ 470. The withdrawal of $ 512 cash for Sandhu's personal use was debited to Salaries and Wages Expense for $512 and credited to Cash for $ 512. 6. Prepare a correct trial balance. (Hint: It helps to prepare the correct journal entry for the transaction described and compare it to the mistake made.) PINA COLADA CO. Trial Balance
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Finish the trial balance

Transcribed Image Text:Tor $ 800 anua credit to ACCOUNTS Payable Tor 80O.
Services were performed on account for a client for $ 800. Accounts Receivable was
debited for $ 800, and Service Revenue was credited for $ 80.
3.
4.
A debit posting to Salaries and Wages Expense of $ 800 was omitted.
5.
A payment of a balance due for $ 407 was credited to Cash for $ 407 and credited to
Accounts Payable for $ 470.
The withdrawal of $ 512 cash for Sandhu's personal use was debited to Salaries and
Wages Expense for $ 512 and credited to Cash for $ 512.
6.
Prepare a correct trial balance. (Hint: It helps to prepare the correct journal entry for the
transaction described and compare it to the mistake made.)
PINA COLADA CO.
Trial Balance
Debit
Totals

Transcribed Image Text:The following trial balance of Pina Colada Co. does not balance.
Pina Colada CO.
Trial Balance
June 30, 2020
Debit
Credit
Cash
$ 2,020
Accounts Receivable
$ 2,530
Supplies
1,250
Equipment
2,400
Accounts Payable
4,277
Unearned Service Revenue
1,100
Owner's Capital
7,800
Owner's Drawings
2,688
Service Revenue
2,580
Salaries and Wages Expense
3,112
Utilities Expense
800
$ 13,880
$ 16,677
Each of the listed accounts has a normal balance per the general ledger. An examination of the
ledger and journal reveals the following errors.
1.
Cash received from a customer in payment of its account was debited for $ 960, and
Accounts Receivable was credited for the same amount. The actual collection was for
$ 690.
2.
The purchase of a computer on account for $ 800 was recorded as a debit to Supplies
for $ 800 and a credit to Accounts Payable for $ 800.
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