Prepaid insurance-accounts payable and property tax expense

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The following trial balance of Waterway Landowska Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $102. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,740 and $6,690, respectively. (d) A debit posting to Advertising Expense of $310 was omitted. (e) A $1,400 cash drawing by the owner was debited to Owner’s Capital and credited to Cash. WATERWAY LANDOWSKA COMPANY TRIAL BALANCE APRIL 30, 2017 Debit Credit Cash $4,409 Accounts Receivable 2,470 Prepaid Insurance 736 Equipment $7,660 Accounts Payable 4,930 Property Taxes Payable 516 Owner’s Capital 10,410 Service Revenue 6,960 Salaries and Wages Expense 4,326 Advertising Expense 1,190 Property Tax Expense 869 $20,607 $23,869 Prepare a correct trial balance. WATERWAY LANDOWSKA COMPANY TRIAL BALANCE APRIL 30, 2017 Debit Credit $ $ Totals $ $

Reference no: EM131247517

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