Chapter 2, Problem 2.20EX

Errors in trial balance

Identify the errors in the following trial balance. All accounts have normal balances.

Mascot co. Unadjusted Trail Balance For the Month Ending July 31, 2019
		Account No.	Debit balances	Credit Balances
Cash		11	36,000
Accounts Receivable		12		112,600
Prepaid insurance		13	18,000
Equipment		14	375,000
Accounts payable		21	53,300
Salaries payable		22		7,500
Samuel parson, Capital		31		297,200
Samuel parson, Drawing		32		17,000
Fees Earned		41		682,000
Salary Expense		51	392,800
Advertising Expense		52		73,000
Miscellaneous Expense		59	11,600
			1,189,300	1,189,300