Fox LtdHad the Following Trial Balance on October 31,2017

question 169

Essay

Fox Ltd.had the following trial balance on October 31,2017.
The following errors caused the trial balance not to balance:
a.Recorded a $2,000 debit to Note Payable as a debit to Note Receivable.
b.Posted a $3,000 credit to Accounts Payable as $300.
c.Recorded a cash revenue transaction by debiting Cash for $6,000 and crediting Accounts Receivable for $6,000.
d.The Common Shares account is understated by $11,100.
Prepare a corrected trial balance as of October 31,2017.All accounts have a normal balance.

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Definitions:

Negation

In logic, negation refers to the operation of changing a statement's truth value from true to false, or vice versa.

Disjunction

A logical operation that yields true if at least one of its operands is true.

Conditional

A logical statement that has an "if-then" form, specifying that one proposition depends on another for its truth.

Symbolize

To represent or stand for something else, especially through the use of symbols or symbolic language.