ACC 205 Entire CourseFor more course tutorials visit
www.shoptutorial.comACC 205 Week 1 Assignment P2-53B Correcting errors in a trial balance
ACC 205 Week 1 DQ 1 Ethical Issues
ACC 205 Week 1 DQ 2 Debit and Credit
ACC 205 Week 2 Assignment P3-32A, P3-33A, E4-21, P4-25A
ACC 205 Week 2 DQ 1 Ethical Issue 3-1
ACC 205 Week 2 DQ 2 Adjusting Entries
ACC 205 Week 3 Assignment E5-16 ,E6-23 ,E6-28, P5-29A
ACC 205 Week 3 DQ 1 Ethical Issue 5-1
ACC 205 Week 3 DQ 2 FIFO and LIFO
ACC 205 Week 4 Assignment P7-31A, P8-32A, P8-26A, P8-27A, P7-27A
ACC 205 Week 4 DQ 1 Fraud Case 7-1
ACC 205 Week 4 DQ 2 Bad Debts
ACC 205 Week 5 Assignment P10-18A ,E9-24, E9-21, P9-28A, P10-15A
ACC 205 Week 5 DQ 1 Fraud Case 9-1
ACC 205 Week 5 DQ 2 Current Liabilities
ACC 205 Week 5 Assignment Final Paper………………………………………………………………………………………………………………………………………………………..ACC 205 Week 1 Assignment P2For more course tutorials visit www.shoptutorial.com
P2-53B Correcting errors in a trial balance
The trial balance for Treasure Hunt Exploration Company does not balance.
Treasure Hunt Exploration Company
Trial Balance
July 31, 2012
Cash 6,600
Accounts receivable 9,000
Supplies 200
Exploration equipment 22,600
Computers 46,000
Accounts payable 2,900
Note payable 18,900
Common stock 50,100
Dividends 1,000
Service revenue 4,900
Salary expense 1,800
Rent expense 100
Advertising expense 100
Utilities expense 700
Total $88,100 $76,800
The following errors were detected:
a. The cash balance is overstated by $1,000.
b. Rent expense of $300 was erroneously posted as a credit rather than a debit.
c. A $6,000 credit to Service revenue was not posted.
d. A $500 debit to Accounts receivable was posted as $50.
e. The balance of Utilities expense is understated by $90.
f. A $600 purchase of supplies on account was neither journalized nor posted.
g….