Correcting errors in a Trial Balance

e12A. Hasson Services, Inc.’s trial balance at the end of July 2014 follows. It does not balance because of a number of errors. Hasson’s accountant compared the amounts in the trial balance with the ledger, recomputed the account balances, and compared the postings. He found the following errors:

a.     The balance of Cash was understated by $400.

b.     A cash payment of $210 was credited to Cash for $120.

c.      A debit of $60 to Accounts Receivable was not posted.

d.     Supplies purchased for $30 were posted as a credit to Supplies.

e.      A debit of $90 to Prepaid Insurance was not posted.

f.      The Accounts Payable account had debits of $2,660 and credits of $4,590.

g.     The Notes Payable account, with a credit balance of $1,200, was not included on the trial balance.

h.     The debit balance of Dividends was listed in the trial balance as a credit.

 

 

 

 

 

 

i     A $100 debit to Dividends was posted as a credit.

j.  The actual balance of Utilities Expense, $130, was listed as $13 in the trial balance.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Â	Hasson Services, Inc. Trial Balance July 31, 2014	Â
	Â	Debits	Â	Credits
Cash	Â	1,720	Â	Â
Accounts Receivable	Â	2,830	Â	Â
Supplies	Â	60	Â	Â
Prepaid Insurance	Â	90	Â	Â
Equipment Accounts Payable	Â	3,700	Â	  2,270
Common Stock	Â	Â	Â	1,500
Retained Earnings	Â	Â	Â	3,780
Dividends	Â	Â	Â	350
Revenues Salaries Expense	Â	  1,300	Â	2,960
Rent Expense	Â	300	Â	Â
Advertising Expense	Â	170	Â	Â
Utilities Expense	Â	13	Â	Â
Â	Â	10,183	Â	10,860

 

Prepare a corrected trial balance.