Reference no: EM131816735

Question - The trial balance of Kelita Karmel Co. shown below is out of balance.

KELITA KARMEL CO Trial Balance August 31, 19XX

Cash $ 2,500

Accounts Receivable 3,000

Office Supplies 3,500

Office Equipment 2,800

Accounts Payable $ 2,903

Kelita, Capital 10,000

Service fees earned 2,420

Wages Expense 5,222

Totals $17,022 $15,323

An examination of the company's records revealed the following additional information:

1. A $360 collection of an account receivable was recorded as $630.

2. A computer purchased on credit for use in the office was recorded with a debit to Office Supplies and a credit to Accounts Payable for $2,500.

3. Services sold on credit for $900 were recorded with a debit to Accounts Receivable for $900 and a credit to Service Fees Earned for $90.

4. A payment of wages was recorded with a debit to Wage Expense for $200 and a debit to Cash for $200.

5. Recalculating the Service Fees Earned account balance before any corrections had been made revealed that the balance should be $2,520.

6. An additional investment of $1,000 made by Kelita during the month was not entered in the capital account (the entry to Cash was made).

7. A $310 payment of an account payable was recorded with a credit to Cash for $310 and a credit to Accounts Payable for $301.

Prepare a corrected trial balance on the Trial Balance form in document sharing.