Corporate Financial Accounting
14th Edition
ISBN: 9781305887510
Author: WARREN
Publisher: Cengage
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Chapter 2, Problem 2.20EX
Errors in
Identify the errors in the following trial balance. All accounts have normal balances.
| Ensemble Co. Unadjusted Trial Balance For the Year Ending December 31,2018 | ||
| Debit Balances | Credit Balances | |
| Cash | 42,900 | |
| 123,500 | ||
| Prepaid Insurance | 27,000 | |
| Equipment | 300,000 | |
| Accounts Payable | 52,000 | |
| Salaries Payable | 4,800 | |
| Common Stock | 40,000 | |
| 137,200 | ||
| Dividends | 5,000 | |
| Service Revenue | 1,216,000 | |
| Salary Expense | 660,000 | |
| Advertising Expense | 275,000 | |
| Miscellaneous Expense | 16,600 | |
| 1,801,500 | 1,801,500 | |
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Chapter 2 Solutions
Corporate Financial Accounting
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