Please refer to image below containing information on the following questions:
a) Prepare the correct trial balance
b) Explain what changes were made and why they were needed
This trial balance of Queenstown Ltd does not balance QUEENSTOWN LTD Trial balance as at 30 June 2017 Credit S 17940 Debit Account name Cash Accounts Receivable Supplies Equipment Accounts Payable Revenue Received in Advance Share Capital Dividends Service Revenue Salaries Expense Office Expense $21 093 5700 18900 16896 60 000 15 180 8 100 5 700 21 300 6360 $87 153 $110016 Each of the lised coumts has a normal balixnation of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited to Cash for $3420, and Accounts Receivable was credited for the same amount. The actual collection was for $4320. 2. The purchase of a scientific calculator on account for $500 was recorded as a debit to Supplies for S 3. Services were performed on account for a client for $6240. Accounts Receivable was debited for $6240 and Service Revenue was credited for $624. 4. A debit posting to Salaries Expense of $4500 was omitted. 5. A payment on account for $2136 was credited to Cash for $2136 6. Payment of a $3300 cash dividend to Queenstown Ltd’s sharehold Accounts Payable for $2163. and credited to Salaries Expense for $3300 and credited to Cash for $3300 ers was debited to Required
