The Trial Balance of P

question 65

Essay

The trial balance of P. Heavy Record Company shown below does not balance. 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. A withdrawal of $300 by the owner was posted as a credit to P. Heavy, Drawings, $300 and credit to Cash $300.
4. A debit of $300 was not posted to Wages Expense.
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
Prepare a correct trial balance.

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Definitions:

Ethmoid Bone

A spongy bone located between the eyes that contributes to the medial walls of the orbits, the roof of the nasal cavity, and the nasal septum.

Epiphysis

The expanded end of a long bone.

Medullary Cavity

The central cavity of bone shafts where red and yellow bone marrow is stored.

Diaphysis

The shaft or central part of a long bone.