Question

In: Accounting

The following trial balance of Bramble Co. does not balance Bramble Trial Balance June 30, 2020...

The following trial balance of Bramble Co. does not balance

Bramble Trial Balance June 30, 2020

DEBIT CREDIT

Cash

$3,179

Accounts Receivable

$2,952

Supplies

1,109

Equipment

4,109

Accounts Payable

2,975

Unearned Service Revenue

1,509

Common Stock

6,309

Retained Earnings

3,309

Service Revenue

2,689

Salaries and Wages Expense

3,709

Office Expense

1,249

Totals

$14,637

$18,461

Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors.

1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750.
2. The purchase of a computer printer on account for $809 was recorded as a debit to Supplies for $809 and a credit to Accounts Payable for $809.
3. Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89.
4. A payment of $80 for telephone charges was recorded as a debit to Office Expense for $80 and a debit to Cash for $80.
5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $634 was performed prior to June 30 (related to Unearned Service Revenue).
6. A debit posting to Salaries and Wages Expense of $979 was omitted.
7. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260.
8. A dividend of $884 was debited to Salaries and Wages Expense for $884 and credited to Cash for $884.

PREPARE A CORRECT TRIAL BALANCE

YEAR ENDED JUNE 30,2020, MONTH ENDED JUNE 30,2020 OR JUNE 30, 2020

Solutions

Expert Solution

Cash

3,199 3,179 + 180 -160

Accounts Receivable

2,772 2,952 - 180

Supplies

300 1,109 - 809

Equipment

4,918 4,109 + 809

Accounts Payable

2,509 2,975 -466

Unearned Service Revenue

875 1,509 - 634

Common Stock

6,309

Retained Earnings

3,309

Dividend

884

Service Revenue

4,124 2,689 + 1,435

Salaries and Wages Expense

3,804 3,709 + 979 - 884

Telephone charges

80 80

Office Expense

1,169 1,249 - 80

Totals

$17,126

$17,126


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