P233A similar to The trial balance of Building Blooks Child

P2-33A (similar to) The trial balance of Building Blooks Child Care does not balance. (Click the icon to view the trial balance.) The following errors are detected: (Click the icon to view the errors.) Prepare the corrected trial balance as of August 31, 2017. Journal entries are not required Building Blocks Child Care Trial Balance August 31, 2017 Balance Account Title Debit Credit Cash Accounts Receivable Office Supplies Prepald Insurance Equipment Accounts Payable Notes Payable Thomas, Capital Thomas, Withdrawals Service Revenue Salaries Expense Rant Exnense Choose from any list or enter any number in the input fieids and then click Check Answer

Solution

Building Blocks Child Care Trial Balance August 31, 2017 Account Debit Credit Cash 11300 Accounts Receivable 15200 Office supplies 2300 Prepaid Insurance 3600 Equipment 81500 Accounts Payable 4700 Notes payable 45000 Thomas, Capital 51000 Thomas, Withdrawals 3300 Service revenue 20800 Salaries Expense 3200 Rent Expense 300 Advertisine expense 800 Total 121500 121500 Workings: Account Incorrect Corrections Corrected Debit Credit Debit Credit Debit Credit Cash 8910 3190 800 11300 Accounts Receivable 6000 9200 15200 Office supplies 1000 1300 2300 Prepaid Insurance 400 3200 3600 Equipment 89500 8000 81500 Accounts Payable 3400 1300 4700 Notes payable 45000 45000 Thomas, Capital 51000 51000 Thomas, Withdrawals 5190 1890 3300 Service revenue 17000 3800 20800 Salaries Expense 3800 600 3200 Rent Expense 300 300 Advertisine expense 800 800 Total 115100 116400 17690 16390 121500 121500 a. Cash account to be debited by $1,300. b. Accounts receivable to be debited twice by $4,600 (once to nullify the wrong and once for correct entry) c. Office supplies to be debited and accounts payable to be credited by $1,300. d. Equipment to be credited by $8,000. e. Salaries expense to be credited by $600. f. Advertising expense to be debited and cash account to be credited by $800. g.Thomas, Withdrawal account to be credited and cash to be debited by $1,890. ($2,100 - $210) h. Service revenue account to be credited by $3,800. i. Prepaid insurance to be debited twice by $1,600 (once to nullify the wrong and once for correct entry)