Unfortunately,the bookkeeper notices that two transactions for Patio Publications were not reflected in the balances of the trial balance: one to record $800 of accrued wages and salaries to be paid on the next pay period,and the other was the use of $560 of office supplies from the supplies on hand.If the Trial Balance column totals are $15,380 prior to discovering these mistakes,what are the totals of the Trial Balance columns after the corrections are made?
A)$15,860
B)$15,140
C)$16,740
D)$16,180

Question

Quizplus · Accepted Answer

To correct the trial balance, we need to add the accrued wages and salaries of $800 and deduct the used office supplies of $560 from the respective accounts. 
So, the new trial balance totals will be:

Debit column: 
Cash $4,200 
Accounts Receivable $1,620 
Supplies $2,080 
Prepaid Insurance $3,000 
Equipment $7,000 
Total Debit $18,900

Credit column: 
Accounts Payable $4,200 
Unearned Revenue $1,300 
Common Stock $4,000 
Retained Earnings $2,300 
Dividends $1,200 
Service Revenue $5,900 
Wages and Salaries Expense $800 
Office Supplies Expense $560 
Rent Expense $1,440 
Total Credit $22,500

Therefore, the correct answer is option C, $16,740.

Unfortunately,the Bookkeeper Notices That Two Transactions for Patio Publications Were