28 Jun e of Mueller SE shown below does not balance. MUELLER SE Trial Balance
Questione of Mueller SE shown below does not balance. MUELLER SE
Trial Balance
P2-4B The trial balance of Mueller SE shown below does not balance. MUELLER SE
Trial Balance
June 30, 2017
Debit Credit
Cash € 3,840
Accounts Receivable € 2,898
Supplies 800
Equipment 3 .000
Accounts Payable 2,666
Unearned Service Revenue 2,200
Share Capital—Ordinary 9,000
Dividends 800
Service Revenue 2,380
Salaries and Wages Expense 3,400
Utilities Expense 910 €14,008 €17,886 Each of the listed accounts has a normal balance per the general ledger. An examination
of the ledger and journal reveals the following errors.
1. Cash received from a customer in payment of its account was debited for €570, and
Accounts Receivable was credited for the same amount. The actual collection was for
€750.
2. The purchase of a computer on account for €620 was recorded as a debit to Supplies
for €620 and a credit to Accounts Payable for €620.
3. Services were performed on account for a client for €890. Accounts Receivable was debited for €890, and Service Revenue was credited for €89.
4. A debit posting to Salaries and Wages Expense of €700 was omitted. . 5. A payment of a balance due for €309 was credited to Cash for €309 and credited to Accounts Payable for €390.
6. The payment of a €600 cash dividend was debited to Salaries and Wages Expense for €600 and credited to Cash for €600.
Describe the concept of “normal balance” and how it serves as an internal control tool
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