Exercise 3-3 your answer is partially correct. try again. the following trial balance of pina traveler corporation does not balance. pina traveler corporation trial balance april 30, 2017 debit credit cash $6,521 accounts receivable 5,450 supplies 3,177 equipment 6,310 accounts payable $7,254 common stock 8,210 retained earnings 2,210 service revenue 5,410 office expense 4,530 $25,988 $23,084 an examination of the ledger shows these errors. 1. cash received from a customer on account was

The trial balance of Blues Traveler Corporation does not balance.

BLUES TRAVELER CORPORATION

Trial Balance

April 30, 2014

DebitCredit
Cash$?5,912
Accounts Receivable5,240
Supplies2,967
Equipment6,100
Accounts Payable$?7,044
Common Stock8,000
Retained Earnings2,000
Service Revenue5,200
Office Expense4,320
$24,539$22,244

An examination of the ledger shows these errors.

  • 1.  Cash received from a customer on account was recorded (both debit and credit) as $1,380 instead of $1,830.
  • 2.  The purchase on account of a computer costing $3,200 was recorded as a debit to Office Expense and a credit to Accounts Payable.
  • 3.  Services were performed on account for a client, $2,250, for which Accounts Receivable was debited $2,250 and Service Revenue was credited $225.
  • 4.  A payment of $95 for telephone charges was entered as a debit to Office Expense and a debit to Cash.
  • 5.  The Service Revenue account was totaled at $5,200 instead of $5,280.

 

 

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