Reference no: EM13329237
Corrected Trial Balance. The trial balance of Watteau Co. (shown on the next page) does not balance.
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 $500 was recorded as a debit to Supplies for $500 and a credit to Accounts Payable for $500.
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 $65 for telephone charges was recorded as a debit to Office Expense for $65 and a debit to Cash for $65.
5. When the Unearned Service Revenue account was reviewed, it was found that $325 of the balance was earned prior to June 30.
6. A debit posting to Wages Expense of $670 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 $575 was debited to Wages Expense for $575 and credited to Cash for $575.
|
Arise in u.s. inflation causes many u.s. residents to buy
: Arise in U.S. inflation causes many U.S. residents to buy gold, which is a major South African export good, as a hedge against inflation.
|
|
Can you name any industries where the government sets price
: If the government steps in to regulate a market, setting a price floor above the free market equilibrium price, will demand increase or decrease compared to the free marker equilibrium? Can you name any industries where the government sets price floo..
|
|
Determine what is the present value of all future payments
: Kelly Greene has a contract in which she will receive the following payments for the next five years: $4,000, $5,000, $6,000, $7,000 and $8,000. She will then receive an annuity of $10,000 a year from the end of the 6th through the end of the 15th..
|
|
What is ha is a weak monoprotic acid
: If 67.0 mL of 0.119 mol/L NaOH(aq) and 35.0 mL of 0.193 mol/L HA(aq) are mixed, then what is [HA] at equilibrium? Assume that HA is a weak monoprotic acid with pKa=6.23 at 25oC
|
|
Trial balance of watteau
: 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 and the purchase of a computer printer on account for $500 was recorded as a debit to Suppl..
|
|
Determine the present value of an annuity due per year
: Determine the present value of an annuity due of $1,000 per year at 10 years discounted back to the present at an annual rate of 10 percent. What would be the present value of this annuity due
|
|
Define hi(aq) required to reach the equivalence point
: The volume of HI(aq) required to reach the equivalence point : (1c) The pH at the half-neutralization point. (1d)The pH at the equivalence point.
|
|
Determine what is the present value of all future benefits
: Rusty Steele will receive the following payments at the end of the next three years: $12,000, $15,000, and $17,000. Then from the end of the fourth year through the end of the tenth year, he will receive an annuity of $18,000.
|
|
Percentages for vallejo companys sales
: Did Vallejo's net income as a percent of sales increase, decrease, or remain unchanged over the 3-year period? Provide numerical support for your answer.
|