Fox Ltd.had the following trial balance on October 31,2017.
The following errors caused the trial balance not to balance:
a.Recorded a $2,000 debit to Note Payable as a debit to Note Receivable.
b.Posted a $3,000 credit to Accounts Payable as $300.
c.Recorded a cash revenue transaction by debiting Cash for $6,000 and crediting Accounts Receivable for $6,000.
d.The Common Shares account is understated by $11,100.
Prepare a corrected trial balance as of October 31,2017.All accounts have a normal balance.

Question

Fox Ltd.had the following trial balance on October 31,2017.
  The following errors caused the trial balance not to balance:
a.Recorded a $2,000 debit to Note Payable as a debit to Note Receivable.
b.Posted a $3,000 credit to Accounts Payable as $300.
c.Recorded a cash revenue transaction by debiting Cash for $6,000 and crediting Accounts Receivable for $6,000.
d.The Common Shares account is understated by $11,100.
Prepare a corrected trial balance as of October 31,2017.All accounts have a normal balance.

Quizplus · Accepted Answer

The Answer of Fox Ltd.had the following trial balance on October 31,2017.
  The following errors caused the trial balance not to balance:
a.Recorded a $2,000 debit to Note Payable as a debit to Note Receivable.
b.Posted a $3,000 credit to Accounts Payable as $300.
c.Recorded a cash revenue transaction by debiting Cash for $6,000 and crediting Accounts Receivable for $6,000.
d.The Common Shares account is understated by $11,100.
Prepare a corrected trial balance as of October 31,2017.All accounts have a normal balance.

Fox LtdHad the Following Trial Balance on October 31,2017