The following trial balance of Marigold Corporation does not balance.MARIGOLD CORPORATIONTRIAL BALANCEJUNE 30, 2020 Debit CreditCash $7,271 Accounts Receivable 7,200 Supplies 3,745 Equipment 7,400 Accounts Payable $8,484 Common Stock 13,500 Retained Earnings 3,000 Service Revenue 3,182 Office Expense 4,460 $30,076 $28,166 An examination of the ledger shows these errors.1. Cash received from a customer on account was recorded (both debit and credit) as $1,270 instead of $1,720.2. The purchase on account of a computer costing $3,100 was recorded as a debit to Office Expense and a credit to Accounts Payable.3. Services were performed on account for a client, $1,900, for which Accounts Receivable was debited $1,900 and Service Revenue was credited $190.4. A payment of $90 for telephone charges was entered as a debit to Office Expense and a debit to Cash.5. The Service Revenue account was totaled at $5,700 instead of $5,720.From this information prepare a corrected trial balance.List of AccountsAssistance Used Accounts PayableAccounts ReceivableAccumulated Depreciation-BuildingsAccumulated Depreciation-EquipmentAdministrative ExpensesAdmissions RevenueAdvertising ExpenseAllowance for Doubtful AccountsBad Debt ExpenseBuildingsCashCommon StockCost of Goods SoldCurrent Maturity of Long-Term DebtDelivery ExpenseDepreciation ExpenseDividendsDues RevenueEquipmentGreen Fees RevenueIncome SummaryIncome Tax ExpenseInsurance ExpenseInterest ExpenseInterest PayableInterest ReceivableInterest RevenueInventoryLandMaintenance and Repairs ExpenseMortgage PayableNo EntryNotes PayableNotes ReceivableOffice ExpenseOwner's CapitalOwner's DrawingsPrepaid AdvertisingPrepaid InsurancePrepaid RentProperty Tax ExpenseProperty Tax PayableRent ExpenseRent ReceivableRent RevenueRetained EarningsSalaries and Wages ExpenseSalaries and Wages Expense-AdministrativeSalaries and Wages Expense-SalesSalaries and Wages PayableSalesSales DiscountsSales Returns and AllowancesSales RevenueSelling ExpensesService RevenueSubscription RevenueSuppliesSupplies ExpenseTelephone and Internet ExpenseUtilities ExpensesUnearned Admissions RevenueUnearned Dues RevenueUnearned Service RevenueUnearned Rent RevenueUnearned Subscriptions Revenue

Name: The following trial balance of Marigold Corporation does not balance.M
Uploaded: 2024-03-04T10:43:15.000Z
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Description: The following trial balance of Marigold Corporation does not balance.MARIGOLD CORPORATIONTRIAL BALANCEJUNE 30, 2020 Debit CreditCash $7,271 Accounts Receivable 7,200 Supplies 3,745 Equipment 7,400 Accounts Payable $8,484 Com

The following trial balance of Marigold Corporation does not balance. MARIGOLD CORPORATION TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $7,271 Accounts Receivable 7,200 Supplies 3,745 Equipment 7,400 Accounts Payable $8,484 Common Stock 13,500 Retained Earnings 3,000 Service Revenue 3,182 Office Expense 4,460 $30,076 $28,166 An examination of the ledger shows these errors. 1. Cash received from a customer on account was recorded (both debit and credit) as $1,270 instead of $1,720. 2. The purchase on account of a computer costing $3,100 was recorded as a debit to Office Expense and a credit to Accounts Payable. 3. Services were performed on account for a client, $1,900, for which Accounts Receivable was debited $1,900 and Service Revenue was credited $190. 4. A payment of $90 for telephone charges was entered as a debit to Office Expense and a debit to Cash. 5. The Service Revenue account was totaled at $5,700 instead of $5,720. From this information prepare a corrected trial balance.

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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List of Accounts

Assistance Used

Accounts Payable
Accounts Receivable
Accumulated Depreciation-Buildings
Accumulated Depreciation-Equipment
Administrative Expenses
Admissions Revenue
Advertising Expense
Allowance for Doubtful Accounts
Bad Debt Expense
Buildings
Cash
Common Stock
Cost of Goods Sold
Current Maturity of Long-Term Debt
Delivery Expense
Depreciation Expense
Dividends
Dues Revenue
Equipment
Green Fees Revenue
Income Summary
Income Tax Expense
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Maintenance and Repairs Expense
Mortgage Payable
No Entry
Notes Payable
Notes Receivable
Office Expense
Owner's Capital
Owner's Drawings
Prepaid Advertising
Prepaid Insurance
Prepaid Rent
Property Tax Expense
Property Tax Payable
Rent Expense
Rent Receivable
Rent Revenue
Retained Earnings
Salaries and Wages Expense
Salaries and Wages Expense-Administrative
Salaries and Wages Expense-Sales
Salaries and Wages Payable
Sales
Sales Discounts
Sales Returns and Allowances
Sales Revenue
Selling Expenses
Service Revenue
Subscription Revenue
Supplies
Supplies Expense
Telephone and Internet Expense
Utilities Expenses
Unearned Admissions Revenue
Unearned Dues Revenue
Unearned Service Revenue
Unearned Rent Revenue
Unearned Subscriptions Revenue

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MARIGOLD CORPORATION TRIAL BALANCE JUNE 30, 2020
	Debit		Credit
Cash		$7,271
Accounts Receivable		7,200
Supplies		3,745
Equipment		7,400
Accounts Payable				$8,484
Common Stock				13,500
Retained Earnings				3,000
Service Revenue				3,182
Office Expense		4,460
		$30,076		$28,166

1.		Cash received from a customer on account was recorded (both debit and credit) as $1,270 instead of $1,720.
2.		The purchase on account of a computer costing $3,100 was recorded as a debit to Office Expense and a credit to Accounts Payable.
3.		Services were performed on account for a client, $1,900, for which Accounts Receivable was debited $1,900 and Service Revenue was credited $190.
4.		A payment of $90 for telephone charges was entered as a debit to Office Expense and a debit to Cash.
5.		The Service Revenue account was totaled at $5,700 instead of $5,720.