The trial balance of Wallaby Ltd shown below does not balance. Cash Accounts receivable. Supplies ............ Equipment Accounts payable Share capital Dividends... Service revenue. Wallaby Ltd Trial balance at 30 June 2023 Debit $ 2,600 7,600 .....600 Credit .....8,300 $ 9,766 1,941 .....1,500 15,200 Wages expense 3,800 Repair expense... 1,600 Totals..... $26.000 $26.907 An examination of the ledger and journal reveals the following errors: 1. Each of the above listed accounts has a normal balance per the general ledger. 2. Cash of $350 received from a customer on account was debited to Cash $530 and credited to Accounts receivable $530. 3. Dividends of $300 paid to shareholders were posted as a credit to Dividends, $300 and a credit to Cash $300. 4. Wages expense of $300 was omitted from the trial balance. 5. The purchase of equipment on account for $700 was recorded as a debit to Repair expense and a credit to Accounts payable for $700. 6. Services were performed on account for a customer, $510, for which Accounts receivable was debited $510 and Service revenue was credited $51. 7. A payment on account for $215 was credited to Cash for $215 and credited to Accounts payable for $251. Instructions The total debit and credit amount of the trial balance should be: a. $ 26, 107 O b. $26, 967 Oc. $26,000 d. $26, 900
The trial balance of Wallaby Ltd shown below does not balance. Cash Accounts receivable. Supplies ............ Equipment Accounts payable Share capital Dividends... Service revenue. Wallaby Ltd Trial balance at 30 June 2023 Debit $ 2,600 7,600 .....600 Credit .....8,300 $ 9,766 1,941 .....1,500 15,200 Wages expense 3,800 Repair expense... 1,600 Totals..... $26.000 $26.907 An examination of the ledger and journal reveals the following errors: 1. Each of the above listed accounts has a normal balance per the general ledger. 2. Cash of $350 received from a customer on account was debited to Cash $530 and credited to Accounts receivable $530. 3. Dividends of $300 paid to shareholders were posted as a credit to Dividends, $300 and a credit to Cash $300. 4. Wages expense of $300 was omitted from the trial balance. 5. The purchase of equipment on account for $700 was recorded as a debit to Repair expense and a credit to Accounts payable for $700. 6. Services were performed on account for a customer, $510, for which Accounts receivable was debited $510 and Service revenue was credited $51. 7. A payment on account for $215 was credited to Cash for $215 and credited to Accounts payable for $251. Instructions The total debit and credit amount of the trial balance should be: a. $ 26, 107 O b. $26, 967 Oc. $26,000 d. $26, 900
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Transcribed Image Text:The trial balance of Wallaby Ltd shown below does not balance.
Cash
Accounts receivable.
Supplies ............
Equipment
Accounts payable
Share capital
Dividends...
Service revenue.
Wallaby Ltd
Trial balance
at 30 June 2023
Debit
$ 2,600
7,600
.....600
Credit
.....8,300
$ 9,766
1,941
.....1,500
15,200
Wages expense
3,800
Repair expense...
1,600
Totals.....
$26.000
$26.907
An examination of the ledger and journal reveals the following errors:
1.
Each of the above listed accounts has a normal balance per the general ledger.
2.
Cash of $350 received from a customer on account was debited to Cash $530 and credited to Accounts receivable $530.
3.
Dividends of $300 paid to shareholders were posted as a credit to Dividends, $300 and a credit to Cash $300.
4.
Wages expense of $300 was omitted from the trial balance.
5.
The purchase of equipment on account for $700 was recorded as a debit to Repair expense and a credit to Accounts payable for $700.
6.
Services were performed on account for a customer, $510, for which Accounts receivable was debited $510 and Service revenue was credited $51.
7.
A payment on account for $215 was credited to Cash for $215 and credited to Accounts payable for $251.
Instructions
The total debit and credit amount of the trial balance should be:
a. $ 26, 107
O b. $26, 967
Oc. $26,000
d. $26, 900
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