Question

Text: Errors in Trial Balance Identify the errors in the following trial balance. All accounts have normal balances. Ensemble Co. Unadjusted Trial Balance For the Year Ending December 31, 20Y8 Debit Balances Credit Balances Cash 42,900 Accounts Receivable 123,500 Prepaid Insurance 27,000 Equipment 300,000 Accounts Payable 52,000 Salaries Payable 4,800 Common Stock 40,000 Retained Earnings 137,200 Dividends 5,000 Service Revenue 1,216,000 Salary Expense 660,000 Advertising Expense 275,000 Miscellaneous Expense 16,600 1,801,500 1,801,500

          Text: Errors in Trial Balance 
Identify the errors in the following trial balance. All accounts have normal balances.                     
                                           Ensemble Co. 
                                   Unadjusted Trial Balance 
                             For the Year Ending December 31, 20Y8 
                                              Debit Balances     Credit Balances 
Cash                                            42,900 
Accounts Receivable                                               123,500 
Prepaid Insurance                       27,000 
Equipment                                   300,000 
Accounts Payable                       52,000 
Salaries Payable                                                      4,800 
Common Stock                                                        40,000 
Retained Earnings                                                   137,200 
Dividends                                                                 5,000 
Service Revenue                                                      1,216,000 
Salary Expense                          660,000 
Advertising Expense                                                 275,000 
Miscellaneous Expense             16,600 
                                                   1,801,500              1,801,500

Added by Ryan B.

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