Reference no: EM132466326

Problem 1: Prepare corrected trial balance by changing incorrect amounts and placing each amount in the proper column.

Davenport's European Tours

Trial Balance

October 31, 20--

Account Title Debit          Credit

Cash                    15,560

Accounts Receivable 406

Supplies                   246

Prepaid Insurance        589

Equipment               24,450

Accounts Payable       6,012

Davenport, Capital        30,500

Davenport, Drawing       1,800

Repair Fees              9,274

Wages Expense           4,250

Rent Expense             1,300

Advertising Expense      290

Utilities Expense          495

______

47,586

Question a. Be sure all accounts have been listed with the appropriate debit or credit balance and check column totals.

Question b. The debits to the Cash account are $36,796, and the credits are $29,009.

Question c. A $600 payment to a creditor was entered in the journal, but was not posted to the Accounts Payable account. Cash was properly posted.

Question d. The Advertising Expense total has a transposition error of $81.

Question e. Accounts Receivable contains a slide error.