At Year-End, Henry Laundry Service Noted the Following Errors in Its

question 119

Essay

At year-end, Henry Laundry Service noted the following errors in its trial balance:
1. It understated the total debits to the Cash account by $500 when computing the account balance.
2. A credit sale for $311 was recorded as a credit to the revenue account, but the offsetting debit was not posted.
3. A cash payment to a creditor for $2,600 was never recorded.
4. The $680 balance of the Prepaid Insurance account was listed in the credit column of the trial
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balance.
5. A $24,900 van purchase was recorded as a $24,090 debit to Equipment and a $24,090 credit to Notes Payable.
6. A purchase of office supplies for $150 was recorded as a debit to Office Equipment. The offsetting credit entry was correct.
7. An additional investment of $4,000 by Del Henry was recorded as a debit to Del Henry, Capital and as a credit to Cash.
8. The cash payment of the $510 utility bill for December was recorded (but not paid) twice.
9. The revenue account balance of $79,817 was listed on the trial balance as $97,817.
10. A $1,000 cash withdrawal was recorded as a $100 debit to Del Henry, Withdrawal and $100 credit to cash.
Using the form below, indicate whether each error would cause the trial balance to be out of balance, the amount of any imbalance, and whether a correcting journal entry is required.

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Definitions:

Excitement Phase

The initial stage of the sexual response cycle, characterized by increased arousal and physiological preparation for sexual activity.

Genital Tissues

These are soft tissues that make up the genital organ's structure in both males and females.

Egodystonic Homosexuality

A disorder (not currently in use) in which the afflicted person is attracted to people of the same sex, but experiences conflict with his or her sexual orientation or wishes to change it.

Sensate Focus

In sex therapy programs, a form of desensitization applied to sexual fears.