Current Attempt In Progress The following trial balance of Sheffield Company does not balance. Your review of the ledger reveals the following (a) Each account had a normal balance. (b) The debit footings in Pregeld Insurance, Accounts Payable, and Property Tax Expense were each understated $92 (c) A transcation error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,750 and $6,690, respectively. (d) A debit posting to Advertising Expense of $281 was omitted. (2) A $1,530 cash drawing by the owner was debited to Owner's Capital and credited to Cash. Shefeld Company Trial Balance April 30, 2025 Debit Credit Cash $5,155 Accounts Receivable 2,570 Prepeld Insurance 640 Equipment $7,910 Accounts Payable 4,620 Property Taxes Payable 563 Owner's Capital 11,660 Service Revenue 6,960 Salaries and Wages Expense 4,540 Advertising Expense 1,107 Property Tax Expense 874 $21,535 $25,064 Prepare a correct trial balance Totala eTextbook and Media List of Accounts Safor Later SHEFFIELD COMPANY Trial Balance Debit Credit Attempts: 0 of 3 used Submit Answer The following trial balance of Sheffield Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $92. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,750 and $6,690, respectively. (d) A debit posting to Advertising Expense of $281 was omitted. (e) A $1,530 cash drawing by the owner was debited to Owner's Capital and credited to Cash. Sheffield Company Trial Balance April 30, 2025 Debit Credit Cash $5,155 Accounts Receivable 2,570 Prepaid Insurance 640 Equipment $7,910 Accounts Payable 4,620 Property Taxes Payable 563 Owner's Capital 11,660 Service Revenue 6,960 Salaries and Wages Expense 4,540 Advertising Expense 1,107 Property Tax Expense 874 $21,535 $25,064

Current Attempt In Progress The following trial balance of Sheffield Company does not balance. Your review of the ledger reveals the following (a) Each account had a normal balance. (b) The debit footings in Pregeld Insurance, Accounts Payable, and Property Tax Expense were each understated $92 (c) A transcation error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,750 and $6,690, respectively. (d) A debit posting to Advertising Expense of $281 was omitted. (2) A $1,530 cash drawing by the owner was debited to Owner's Capital and credited to Cash. Shefeld Company Trial Balance April 30, 2025 Debit Credit Cash $5,155 Accounts Receivable 2,570 Prepeld Insurance 640 Equipment $7,910 Accounts Payable 4,620 Property Taxes Payable 563 Owner's Capital 11,660 Service Revenue 6,960 Salaries and Wages Expense 4,540 Advertising Expense 1,107 Property Tax Expense 874 $21,535 $25,064 Prepare a correct trial balance Totala eTextbook and Media List of Accounts Safor Later SHEFFIELD COMPANY Trial Balance Debit Credit Attempts: 0 of 3 used Submit Answer The following trial balance of Sheffield Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $92. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,750 and $6,690, respectively. (d) A debit posting to Advertising Expense of $281 was omitted. (e) A $1,530 cash drawing by the owner was debited to Owner's Capital and credited to Cash. Sheffield Company Trial Balance April 30, 2025 Debit Credit Cash $5,155 Accounts Receivable 2,570 Prepaid Insurance 640 Equipment $7,910 Accounts Payable 4,620 Property Taxes Payable 563 Owner's Capital 11,660 Service Revenue 6,960 Salaries and Wages Expense 4,540 Advertising Expense 1,107 Property Tax Expense 874 $21,535 $25,064

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 19E: After Bunker Hill Assay Services Inc. had completed all postings for March in the current year...

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