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Unfortunately,the Bookkeeper Notices That Two Transactions for Patio Publications Were

question 117

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Unfortunately,the bookkeeper notices that two transactions for Patio Publications were not reflected in the balances of the trial balance: one to record $800 of accrued wages and salaries to be paid on the next pay period,and the other was the use of $560 of office supplies from the supplies on hand.If the Trial Balance column totals are $15,380 prior to discovering these mistakes,what are the totals of the Trial Balance columns after the corrections are made?

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Definitions:

Insurable Interest

(1) In contract law, a property interest in goods being sold or leased that is sufficiently substantial to permit a party to insure against damage to the goods. (2) In the context of insurance, an interest in a person’s life or well-being that is sufficiently substantial that insuring against the person’s death or injury does not amount to a mere wagering contract.

Title

The legal right to own, use, or dispose of property or assets.

Seller

refers to an individual or entity that offers goods or services for sale to consumers or other businesses.

Merchant

An individual or business engaged in the selling of goods or services, especially those involved in wholesale or retail trade.

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