Corrected Trial Balance - Treasure Hunt Exploration Co
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Prepare the corrected trial balance at May 31, 2012. Journal entries are not required.
Cash is understated by $4,000. b.A $2,000 debit to Accounts receivable was posted as a credit. c.A $1,200 purchase of supplies on account was neither journalized nor posted. d.Equipment's cost is $87,700, not $88,000. e.Salary expense is overstated by $100.
The trial balance for Treasure Hunt Exploration Company does not balance.
(make the corrections) see attached.
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Solution Summary
Prepare the corrected trial balance at May 31, 2012. Journal entries are not required.
Cash is understated by $4,000. b.A $2,000 debit to Accounts receivable was posted as a credit. c.A $1,200 purchase of supplies on account was neither journalized nor posted. d.Equipment's cost is $87,700, not $88,000. e.Salary expense is overstated by $100.
The trial balance for Treasure Hunt Exploration Company does not balance.
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Dear Student,
Part d of your question seemed to have a typographical error related to the value of Equipment. Your Equipment figure in the ...
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