The trial balance of Drysdale Company shown below does not balance. An examination of the ledger and journal reveals the following errors:
1. Each of the above listed accounts has a normal balance per the general ledger.
2. Cash of ₤170 received from a customer on account was debited to Cash ₤710 and credited to Accounts Receivable ₤710.
3. A dividend of ₤300 was posted as a credit to Dividends, ₤300 and credit to Cash ₤300.
4. A debit of ₤120 was not posted to Salaries and Wages Expense.
5. The purchase of equipment on account for ₤700 was recorded as a debit to Maintenance and Repairs Expense and a credit to Accounts Payable for ₤700.
6. Services were performed on account for a customer, ₤310, for which Accounts Receivable was debited ₤310 and Service Revenue was credited ₤31.
7. A payment on account for ₤225 was credited to Cash for ₤225 and credited to Accounts Payable for ₤252.
Instructions
Prepare a correct trial balance.

Question

The trial balance of Drysdale Company shown below does not balance.  An examination of the ledger and journal reveals the following errors:
1. Each of the above listed accounts has a normal balance per the general ledger.
2. Cash of ₤170 received from a customer on account was debited to Cash ₤710 and credited to Accounts Receivable ₤710.
3. A dividend of ₤300 was posted as a credit to Dividends, ₤300 and credit to Cash ₤300.
4. A debit of ₤120 was not posted to Salaries and Wages Expense.
5. The purchase of equipment on account for ₤700 was recorded as a debit to Maintenance and Repairs Expense and a credit to Accounts Payable for ₤700.
6. Services were performed on account for a customer, ₤310, for which Accounts Receivable was debited ₤310 and Service Revenue was credited ₤31.
7. A payment on account for ₤225 was credited to Cash for ₤225 and credited to Accounts Payable for ₤252.
Instructions
Prepare a correct trial balance.

Quizplus · Accepted Answer

The Answer of The trial balance of Drysdale Company shown below does not balance.  An examination of the ledger and journal reveals the following errors:
1. Each of the above listed accounts has a normal balance per the general ledger.
2. Cash of ₤170 received from a customer on account was debited to Cash ₤710 and credited to Accounts Receivable ₤710.
3. A dividend of ₤300 was posted as a credit to Dividends, ₤300 and credit to Cash ₤300.
4. A debit of ₤120 was not posted to Salaries and Wages Expense.
5. The purchase of equipment on account for ₤700 was recorded as a debit to Maintenance and Repairs Expense and a credit to Accounts Payable for ₤700.
6. Services were performed on account for a customer, ₤310, for which Accounts Receivable was debited ₤310 and Service Revenue was credited ₤31.
7. A payment on account for ₤225 was credited to Cash for ₤225 and credited to Accounts Payable for ₤252.
Instructions
Prepare a correct trial balance.

The Trial Balance of Drysdale Company Shown Below Does Not