The Following Trial Balance Was Prepared from the General Ledger

question 130

Essay

The following trial balance was prepared from the general ledger of Hal's Auto Repair.

Since the trial balance did not balance, you decided to examine the accounting records. You found that the following errors had been made:
1.A purchase of supplies on account for $245 was posted as a debit to Supplies and as a debit
to Accounts Payable.
2.An investment of $500 cash by the owner was debited to Common Stock and credited to
Cash.
3.In computing the balance of the Accounts Receivable account,a debit of $600 was omitted
from the computation.
4.One debit of $300 to the Dividends account was posted as a credit.
5.Office equipment purchased for $800 was posted to the Repair Equipment account.
6.One entire entry was not posted to the general ledger.The transaction involved the receipt
of $125 cash at the time repair services were performed.
Prepare a corrected trial balance for the Hal's Auto Repair as of October 31.

Learn to correct data or structure in tables through Update queries.

Understand how to remove or add records in an existing table using Delete and Append queries.

Recognize the significant components of a query (e.g., join lines, query grid).

Realize the irreversible nature of running action queries and the importance of backup.