The following trial balance of Crane Co. does not balance. CRANE CO. TRIAL BALAN
ID: 2607450 • Letter: T
Question
The following trial balance of Crane Co. does not balance.
CRANE CO.
TRIAL BALANCE
JUNE 30, 2017
Debit
Credit
$14,745
$18,061
Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors.
Prepare a correct trial balance.
CRANE CO.
TRIAL BALANCE
JUNE 30, 2017
Debit
Credit
CRANE CO.
TRIAL BALANCE
JUNE 30, 2017
Debit
Credit
Cash $3,099 Accounts Receivable $3,460 Supplies 1,029 Equipment 4,029 Accounts Payable 2,895 Unearned Service Revenue 1,429 Common Stock 6,229 Retained Earnings 3,229 Service Revenue 2,609 Salaries and Wages Expense 3,629 Office Expense 1,169 Totals$14,745
$18,061
Explanation / Answer
Debit Credit Cash (3,099+180-294-294) 2691 Accounts receivable (3,460-180) 3280 Supplies (1,029-729 300 Equipment (4,029+729 4758 Accounts payable (2,895-206-260 2429 unearned service revenue (1,429-554 875 common stock 6,229 Retained earnings 3,229 Divdiend 804 Service revenue (2,609+801+554 3964 Salaries & wage expense (3,629+899-804) 3724 Office expense 1,169 totals 16726 16726
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