Instrutcionsa. Prepare an analysis of each error showing (1) the incorrect entry, (2) the correct entry, and (3) the correcting entry. Items 4 and 5 occurred on April 30, 2020 b. Prepare a correct trial balance. (Trial Balance $22,890) P4.6A (LO 3) Horace Culpepper, CPA, was retained by Pulsar Cable to prepare financial statements forApril 2020. Horace accumulated all the ledger balances per Pulsar's records and found the following.Analyze errors and prepare correctingentries and trial balance.Pulsar CableTrial BalanceАpril 30, 2020DebitCreditCash$ 4,100Accounts Receivable3,200SuppliesEquipmentAccumulated Depreciation-Equip.Accounts PayableSalaries and Wages Payable80010,800S 1,3502,100700Unearned Service Revenue890Owner's Capital12,900Service Revenue5,650Salaries and Wages ExpenseAdvertising ExpenseMiscellaneous ExpenseDepreciation Expense3,300600290500$23,590$23,590Horace Culpepper then reviewed the records and found the following errors.1. Cash received from a customer on account was recorded as S950 instead of $590.2. A payment of $75 for advertising expense was entered as a debit to Miscellaneous Expense $75 anda credit to Cash $75.3. The first salary payment in April was for $1,900, which included $900 of salaries payable onMarch 31. The payment was recorded as a debit to Salaries and Wages Expense $1,900 and a creditto Cash $1,900. (No reversing entries were made on April 1.)4. The purchase on account of a printer costing $510 was recorded as a debit to Supplies and a creditto Accounts Payable for $510.5. A cash payment of repair expense on equipment for $96 was recorded as a debit to Equipment $69and a credit to Cash $69.Instructionsa. Prepare an analysis of each error showing (1) the incorrect entry, (2) the correct entry, and (3) thecorrecting entry. Items 4 and 5 occurred on April 30, 2020.b. Prepare a correct trial balance.b. Trial balance $22,890

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Answered: Prepare an analysis of each error…

Prepare an analysis of each error showing (1) the incorrect entry, (2) the correct entry, and (3) the correcting entry. Items 4 and 5 occurred on April 30, 2020 b. Prepare a correct trial balance.

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter2: Basic Accounting Systems: Cash Basis

Section: Chapter Questions

Problem 2.6P: Financial statements Alpine Realty. Inc., organized July 1. 20Y8, is operated by Angela Griffin. How...

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