Reference no: EM133106360
Question - The following trial balance of Skysong Co. does not balance.
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SKYSONG CO. TRIAL BALANCE JUNE 30, 2020
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Debit
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Credit
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Cash
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$3,051
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Accounts Receivable
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$3,090
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Supplies
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981
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Equipment
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3,981
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Accounts Payable
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2,847
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Unearned Service Revenue
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1,381
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Common Stock
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6,181
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Retained Earnings
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3,181
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Service Revenue
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2,561
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Salaries and Wages Expense
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3,581
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Office Expense
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1,121
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Totals
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$14,135
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$17,821
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Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors.
1. Cash received from a customer on account was debited for $570, and Accounts Receivable was credited for the same amount. The actual collection was for $750.
2. The purchase of a computer printer on account for $681 was recorded as a debit to Supplies for $681 and a credit to Accounts Payable for $681.
3. Services were performed on account for a client for $890. Accounts Receivable was debited for $890 and Service Revenue was credited for $89.
4. A payment of $85 for telephone charges was recorded as a debit to Office Expense for $85 and a debit to Cash for $85.
5. When the Unearned Service Revenue account was reviewed, it was found that service revenue amounting to $506 was performed prior to June 30 (related to Unearned Service Revenue).
6. A debit posting to Salaries and Wages Expense of $851 was omitted.
7. A payment on account for $206 was credited to Cash for $206 and credited to Accounts Payable for $260.
8. A dividend of $756 was debited to Salaries and Wages Expense for $756 and credited to Cash for $756.
Required - Prepare a correct trial balance.