The following trial balance for Kids Play does not balance and the owner is concerned and has passed it to you for review and adjustments where applicable: Trial BalanceJune 30th, 2013 Account Debit CreditCash 6,600Accounts receivable 8,000Supplies 600Motor vehicle 89,000Accounts payable 55,000Marlon Morgan: Capital 50,700Marlon Brown: Withdrawal 2,300Service revenue 4,500Salary 4,100Rent 800 .111,400 110,200You have now been presented with the following list of errors and have been asked toprepare the adjusted trial balance: (journal entries are not required)a. Cash was understated by $2,000b. A $1,000 debit to accounts receivable was posted as a credit.c. A $1,400 purchase of supplies on account was omitted from thecompany’s books.d. Motor Vehicle cost should have been $84,300 instead of $89,000e. Salary expense was overstated by $500
The following trial balance for Kids Play does not balance and the owner is concerned and has passed it to you for review and adjustments where applicable: Trial BalanceJune 30th, 2013 Account Debit CreditCash 6,600Accounts receivable 8,000Supplies 600Motor vehicle 89,000Accounts payable 55,000Marlon Morgan: Capital 50,700Marlon Brown: Withdrawal 2,300Service revenue 4,500Salary 4,100Rent 800 .111,400 110,200You have now been presented with the following list of errors and have been asked toprepare the adjusted trial balance: (journal entries are not required)a. Cash was understated by $2,000b. A $1,000 debit to accounts receivable was posted as a credit.c. A $1,400 purchase of supplies on account was omitted from thecompany’s books.d. Motor Vehicle cost should have been $84,300 instead of $89,000e. Salary expense was overstated by $500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
The following trial balance for Kids Play does not balance and the owner is concerned and has passed it to you for review and adjustments where applicable:
Trial Balance
June 30th, 2013
Account Debit Credit
Cash 6,600
Accounts receivable 8,000
Supplies 600
Motor vehicle 89,000
Accounts payable 55,000
Marlon Morgan: Capital 50,700
Marlon Brown: Withdrawal 2,300
Service revenue 4,500
Salary 4,100
Rent 800 .
111,400 110,200
You have now been presented with the following list of errors and have been asked to
prepare the adjusted trial balance: (journal entries are not required)
a. Cash was understated by $2,000
b. A $1,000 debit to accounts receivable was posted as a credit.
c. A $1,400 purchase of supplies on account was omitted from the
company’s books.
d. Motor Vehicle cost should have been $84,300 instead of $89,000
e. Salary expense was overstated by $500
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