The Following Trial Balance of Brian's Pickle Co

question 106

Essay

The following trial balance of Brian's Pickle Co.for June 30,2018 does not balance.
The following errors were discovered:
1.A purchase of supplies for cash was posted as $40 when it should have been $400.
2.The first two numbers of the amount for notes payable were transposed while being copied from the account balance to the trial balance.The correct amount of Notes Payable should be $51,500.
3.A collection of cash was debited to the cash account in the amount of $5,500 but was not credited to the revenue account.
4.A purchase of supplies for $725 on account was not recorded.
Instructions: Prepare a corrected trial balance

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Definitions:

Ripple Effect

The continuing and spreading results of an event or action, analogous to the ripples expanding across water when an object is dropped into it.

Dropping Out of College

The act of leaving a college or university before completing a degree, often due to personal, academic, or financial reasons.

First Generation

Individuals or entities that are the first in their family or kind, often referring to the first to be born in a new country.

Wealthy Hispanic

A term that might refer to individuals of Hispanic origin possessing significant financial assets or wealth, although this is not a standard sociological or demographic category.