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CLICK HERE TO ACCESS FULL VERSION Chapter 2 - Analyzing Transactions ANSWER:

Sophie Designs Co. Trial Balance April 30 Debit Credit Balances Balances 6,700 3,450 3,125 14,500 4,100 17,800 7,500 45,425 14,000 11,500 4,000 1,700 850 67,325 67,325

Cash Accounts Receivable Supplies Equipment Accounts Payable Sophie Dawson, Capital Sophie Dawson, Drawing Fees Earned Salary Expense Rent Expense Utilities Expense Supplies Expense Miscellaneous Expense DIFFICULTY:

Moderate Bloom's: Applying LEARNING OBJECTIVES: ACCT.WARD.18.02-04 - 02-04 ACCREDITING STANDARDS: ACCT.ACBSP.APC.05 - Accounting Cycle ACCT.ACBSP.APC.09 - Financial Statements ACCT.AICPA.FN.03 - Measurement BUSPROG: Analytic 239. (a) List the errors in the following trial balance. All accounts have normal balances. (b) What would be the new totals in the Debit and Credit columns after errors are corrected? What would be the balance of Accounts Receivable? Winslow’s Auto Body Trial Balance For Month Ending April 30 Debit Balances Cash Accounts Receivable Supplies Equipment Prepaid Insurance Accounts Payable Thad Winslow, Capital Thad Winslow, Drawing Fees Earned Salary Expense Rent Expense Utilities Expense Supplies Expense Miscellaneous Expense

Credit Balances 19,475 ? 1,000

15,000 500 2,500 17,000 1,000 49,600 14,500 9,000 1,400 3,900 250 55,000

81,575

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