Essay
Fox Ltd.had the following trial balance on October 31,2017.
The following errors caused the trial balance not to balance:
a.Recorded a $2,000 debit to Note Payable as a debit to Note Receivable.
b.Posted a $3,000 credit to Accounts Payable as $300.
c.Recorded a cash revenue transaction by debiting Cash for $6,000 and crediting Accounts Receivable for $6,000.
d.The Common Shares account is understated by $11,100.
Prepare a corrected trial balance as of October 31,2017.All accounts have a normal balance.
Correct Answer:

Verified
Correct Answer:
Verified
Q82: On a trial balance the total of
Q89: A journal is a record of financial
Q160: What criteria are used to determine if
Q161: When using a three-column account format,the column
Q162: A junior bookkeeper,Bob Delisle,prepared the following trial
Q163: The account credited when cash is received
Q166: Explain the following terms in your own
Q167: Paying by cheque to settle a debt
Q168: The accounting transaction to record payment of
Q170: Following is a list of errors made