Error detected: Totals don’t balance – missing Retained Earnings or dividends? For teaching purposes, let’s assume the difference is net income and we will close it.
Error: Forgot to include the initial capital of $50,000 in the trial balance? Actually, we started with cash from capital. Let’s adjust: ejercicios resueltos de contabilidad
Corrected Equity: Capital (initial) $50,000 + Net Income $10,100 = $60,100. Then Total Liabilities + Equity = $24,400 + $60,100 = $84,500. Assets = $39,000 – This shows a major error: The trial balance had wrong totals. In reality, the balance sheet must balance. This teaches students to verify arithmetic and ensure all accounts are included. Error detected: Totals don’t balance – missing Retained
Credit: 4,000 (Feb10) Debit: 500 (Feb28) Balance (Credit) = 3,500 Actually, we started with cash from capital
Credit: 4,000 + 3,000 = 7,000
| Date | Transaction | |------|-------------| | Feb 1 | Paid rent $1,500 cash. | | Feb 5 | Performed services for $4,000 cash. | | Feb 10 | Purchased equipment $6,000, paying $2,000 cash, rest on credit. | | Feb 18 | Billed a client for services $3,000 (to be paid later). | | Feb 25 | Collected $1,000 from that client. | | Feb 28 | Paid $500 of the accounts payable from Feb 10. |