At the end of the year, Alpha Corporation's adjusted trial balance had total debits of...

70.2K

Verified Solution

Question

Accounting

image

At the end of the year, Alpha Corporation's adjusted trial balance had total debits of S59,130 and total credits of S59,570. After a review, mistakes were discovered. Show how each item should be treated on the trial balance in order to find the correct ending balances.Enter the amount(s) with+ or -. Each line should have at least one dollar amount entered in one of the cells. [5 points each Eirors/Omissions 1. Alpha overstated the amount recorded for a credit sale by S900 2. A cash sale for $500 was erroneouslyrecordedas unearnedrevenue. No AJE was recorded to correct this error. 3. The Alpha bookkeeper erroneously postedS800 twice to the accounts payable account in the general ledger 4. Alpha's AJE for supplies contained a debit for the incorrectamount of S840 to supplies expense instead of the correct amount of S480. The credit side was correct. 5. Alpha's AJE for accrued salaries was incorrectly recorded for $70 instead ofthe correct amount of S700 (both the debit and credit)

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students