The Following Trial Balance Was Prepared from the General Ledger

question 45

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.

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Definitions:

Ventilator-Associated Pneumonia

A type of lung infection that occurs in people who are on mechanical ventilation breathing machines in hospitals, posing significant risks.

Mechanical Ventilation

An approach to aid or supplant self-initiated breathing through the use of a device referred to as a ventilator.

Oral Care

The practice of maintaining cleanliness and health of the mouth and teeth, typically through brushing, flossing, and regular dental checkups.

Endotracheal Tube

A tube inserted through the mouth into the trachea to maintain an open airway and facilitate ventilation.