Reference no: EM133108835

Question - Prepare a correct trial balance.

The trial balance of Zebera Painters shown below does not balance.

ZEBERA PAINTERS Trial Balance June 30, 2012

Debit Credit

Cash $2,780

Accounts Receivable 7,420

Supplies 600

Equipment 8,300

Accounts Payable $9,777

Owners Capital 1,952

Owners Drawings 1,300

Service Revenue 15,200

Salaries and Wages Expense 3,800

Repair Expense 1,600

Totals $25,800 $26,929

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 $270 received from a customer on account was debited to Cash $720 and credited to Accounts Receivable $720.

3. A withdrawal of $400 by the owner was posted as a credit to Owners Drawings, $400 and credit to Cash $400.

4. A debit of $300 was not posted to Salaries and Wages Expense.

5. The purchase of equipment on account for $700 was recorded as a debit to Repair Expense and a credit to Accounts Payable for $700.

6. Services were performed on account for a customer, $510, for which Accounts Receivable was debited $510 and Service Revenue was credited $51.

7. A payment on account for $235 was credited to Cash for $235 and credited to Accounts Payable for $253.

Required - Prepare a correct trial balance.