Joe Edmonds, CPA, was retained by Fox Cable to prepare financial statements for April 2012
1.Joe Edmonds, CPA, was retained by Fox Cable to prepare financial statements for April 2012. Edmonds accumulated all the ledger balances per Fox’s records and found the following. FOX CABLE Trial Balance 30 April 2012 Dr. Cr. Cash $4,200 Accounts Receivable 3,300 Supplies 900 Equipment 10,700 Accumulated Depreciation $1,450 Accounts Payable 2,200 Salaries Payable 710 Unearned Revenue 990 Manion, Capital 13,000 Service Revenue 5,550 Salaries Expense 3,400 Advertising Expense 610 Miscellaneous Expense 290 Depreciation Expense 500 $23,900 $23,900 Joe Edmonds reviewed the records and found the following errors. Cash received from a customer on account was recorded as $840 instead of $480. A payment of $75 for advertising…
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