TIMMONY CO. TRIAL BALANCE DECEMBER 31, 201X Dr. Cr. D. Timmony, Capital Equipment Rent Expense Advertising Expense Accounts Payable 4800 1600 2500 500 800 1600 1500 Taxi Fees Cash D. Timmony, Withdrawals 1100 |4900 Totals |9500

TIMMONY CO. TRIAL BALANCE DECEMBER 31, 201X Dr. Cr. D. Timmony, Capital Equipment Rent Expense Advertising Expense Accounts Payable 4800 1600 2500 500 800 1600 1500 Taxi Fees Cash D. Timmony, Withdrawals 1100 |4900 Totals |9500

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter2: The Accounting Information System

Section: Chapter Questions

Problem 17DQ

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Question

Ex3.1.6
The following trial balance was prepared incorrectly, rearrange the accounts in proper order,
Calculate the total of the trial balance. Assume each account has a normal balance
TIMMONY CO.
TRIAL BALANCE
DECEMBER 31, 201X
Dr.
Cr.
D. Timmony, Capital
Equipment
Rent Expense
Advertising Expense
Accounts Payable
4800
1600
2500
500
800
Taxi Fees
1600
Cash
1500
D. Timmony, Withdrawals
1100
Totals
9500
|4900
On June 1, 2010, a telephone expense for $250 was debited to Repair Expense. On June 10,
2010, this error was found. Prepare the corrected journal entry. When would a correcting entry
not be needed?

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