Question - The trial balance of Dominic Company shown below does not balance.
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DOMINIC COMPANY Trial Balance May 31, 2015
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Debit
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Credit
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Cash
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$5,380
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Accounts Receivable
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$2,740
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Prepaid Insurance
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850
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Equipment
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13,530
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Accounts Payable
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6,030
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Unearned Service Revenue
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710
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Common Stock
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13,230
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Service Revenue
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8,680
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Salaries and Wages Expense
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4,350
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Advertising Expense
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950
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Utilities Expense
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800
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$34,300
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$22,950
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Your review of the ledger reveals that each account has a normal balance. You also discover the following errors.
1. The totals of the debit sides of Prepaid Insurance, Accounts Payable, and Utilities Expense were each understated $100.
2. Transposition errors were made in Accounts Receivable and Service Revenue. Based on postings made, the correct balances were $2,470 and $8,860, respectively.
3. A debit posting to Salaries and Wages Expense of $200 was omitted.
4. A $1,820 cash dividend was debited to Common Stock for $1,820 and credited to Cash for $1,820.
5. A $510 purchase of supplies on account was debited to Equipment for $510 and credited to Cash for $510.
6. A cash payment of $550 for advertising was debited to Advertising Expense for $55 and credited to Cash for $55.
7. A collection from a customer for $600 was debited to Cash for $600 and credited to Accounts Payable for $600.
Required - Prepare a correct trial balance.