Required: From the information given below, complete the corrected trial balance of C. Canada Manufacturers. The Trial balance of C. Canada Manufacturers was prepared by an inexperienced bookkeeper. You have been asked to assist and prepare the trial balance for the business. In examining the general journal and the ledger accounts you discover the following information. 1. The correct balance in the Loan Payable account is $5 400. 2. A purchase of lawnmower fuel for cash of $180 was eroneously recorded as a purchase on credit. 3. The correct debits and credits in the Accounts Receivable totalled $7 600 and $5 400 respectively. 4. A $550 payment for salaries was not posted to the Cash at Bank account. 5. The debit to record a withdrawal of $600 in cash by the owner was not posted. Canada Manufacturers Trial balance as at 30 June 2019 Debit Credit Balanced Balances Cash at bank 2 400 Accounts receivable 530 420 Supplies Equipment Accounts payable Salaries payable Loan payable Capital Drawings 8 200 2 160 2 980 4 500 6 400 6 220 Service revenue 13 800 5 100 Salaries expense Rent expense Other expense 3 200 2 950

Required: From the information given below, complete the corrected trial balance of C. Canada Manufacturers. The Trial balance of C. Canada Manufacturers was prepared by an inexperienced bookkeeper. You have been asked to assist and prepare the trial balance for the business. In examining the general journal and the ledger accounts you discover the following information. 1. The correct balance in the Loan Payable account is $5 400. 2. A purchase of lawnmower fuel for cash of $180 was eroneously recorded as a purchase on credit. 3. The correct debits and credits in the Accounts Receivable totalled $7 600 and $5 400 respectively. 4. A $550 payment for salaries was not posted to the Cash at Bank account. 5. The debit to record a withdrawal of $600 in cash by the owner was not posted. Canada Manufacturers Trial balance as at 30 June 2019 Debit Credit Balanced Balances Cash at bank 2 400 Accounts receivable 530 420 Supplies Equipment Accounts payable Salaries payable Loan payable Capital Drawings 8 200 2 160 2 980 4 500 6 400 6 220 Service revenue 13 800 5 100 Salaries expense Rent expense Other expense 3 200 2 950

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter18: Acquiring Capital For Growth And Development

Section: Chapter Questions

Problem 2AP

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