The following trial balance of Windsor Company does not balance. Your review of the ledger...
90.2K
Verified Solution
Question
Accounting
The following trial balance of Windsor Company does not balance. Your review of the ledger reveals the following. (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $96. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,850 and $6,690, respectively. (d) A debit posting to Advertising Expense of $314 was omitted. (e) A $1,500 cash drawing by the owner was debited to Owner's Capital and credited to Cash. Windsor Company Trial Balance April 30, 2020 Debit Credit Cash $4,420 Accounts Receivable 2,580 Prepaid Insurance 7:20 Equipment $7,370 Accounts Payable 4,450 Property Tax Payable 536 Owner's Capital 10,240 Service Revenue 6.960 Salaries and Wages Expense 4,177 Advertising Expense 1,023 Property Tax Expense 754 $20,416 $22,814 Cash Accounts Receivable Equipment Owner's Capital Accounts Payable WINDSOR COMPANY Trial Balance April 30, 2020 $ Debit 4420 $ 7370 Property Tax Payable Salaries and Wages Expense 4177 Advertising Expense Property Tax Expense Totals 24610 Credit 10240 4450 536 1023 754
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Best
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.