Tech Support Services has the following unadjusted trial balance as of January 31, 2019. The...

80.2K

Verified Solution

Question

Accounting

image
image
image
Tech Support Services has the following unadjusted trial balance as of January 31, 2019. The debit and credit totals are not equal as a result of the following errors: a. The cash entered on the trial balance was overstated by $8,000, b. A cash receipt of $4,100 was posted as a debit to Cash of $1,400. c. A debit of $12,350 to Accounts recelvable was not posted. d. A return of $235 of defective supplies was erroneously posted as a $325 credit to 5 Upplies. e. An insurance policy acquired at a cost of $3,000 was posted as a credit to Prepaid Insurance. f. The balance of Notes Payable was overstated by $21,000. 9. A credit of $3,450 in Accounts Payable was overlooked when the balance of the account was determined. h. A debit of $6,000 for a withdrawal by the owner was posted as a debit to Thad Engelberg, Capital. 1. The balance of $28,350 in Advertising Expense was entered as $23,850 in the trial balance. 1. Miscelianeous Expense, with a balance of $4,600, was omitted from the trial balance. 2. Does the fact that the unadjusted trial balance in (1) is balanced mean that there are no errors in the accounts

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