Prepare a corrected trial balance for hasson services inc

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Reference no: EM13913507

Hasson Services, Inc.'s trial balance at the end of July 2014 follows. It does not balance because of a number of errors. Hasson's accountant compared the amounts in the trial balance with the ledger, recomputed the account balances, and compared the postings. He found the following errors:

a. The balance of Cash was understated by $400.

b. A cash payment of $210 was credited to Cash for $120.

c. A debit of $60 to Accounts Receivable was not posted.

d. Supplies purchased for $30 were posted as a credit to Supplies.

e. A debit of $90 to Prepaid Insurance was not posted.

f. The Accounts Payable account had debits of $2,660 and credits of $4,590.

g. The Notes Payable account, with a credit balance of $1,200, was not included on the trial balance.

h. The debit balance of Dividends was listed in the trial balance as a credit.

i A $100 debit to Dividends was posted as a credit.

j. The actual balance of Utilities Expense, $130, was listed as $13 in the trial balance.

Hasson Services, Inc. Trial Balance July 31, 2014
	Debits	Credits
Cash	1,720
Accounts Receivable	2,830
Supplies	60
Prepaid Insurance	90
Equipment Accounts Payable	3,700	2,270
Common Stock		1,500
Retained Earnings		3,780
Dividends		350
Revenues Salaries Expense	1,300	2,960
Rent Expense	300
Advertising Expense	170
Utilities Expense	13
	10,183	10,860

Prepare a corrected trial balance.

Reference no: EM13913507

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