Yin & Yang Video has the following unadjusted trial balance as of January 31, 2010:

Yin & Yang Video

Unadjusted Trial Balance

January 31, 2010

Debit Balances Credit Balances

Cash 19,000

Accounts Receivable 34,100

Supplies 4,464

Prepaid Insurance 4,800

Equipment 108,000

Notes Payable 45,000

Accounts Payable 9,650

Chea Wynn, Capital 69,400

Chea Wynn, Drawing 23,500

Fees Earned 356,000

Wages Expense 204,000

Rent Expense 41,700

Advertising Expense 19,800

Gas, Electricity, and Water Expense 11,340

$470,704 $480,050

The debits and credit totals are not equal as a result of the following errors:

a. The balance of cash was overstated by $10,000.

b. A cash receipt of $6,100 was posted as a debit to Cash of $1,600.

c. A debit of $3,500 to Accounts Receivable was not posted.

d. A return of $415 of defective supplies was erroneously posted as a $451 credit to Supplies.

e. An insurance policy acquired at a cost of $800 was posted as a credit to Prepaid Insurance.

f. The balance of Notes Payable was overstated by $9,000.

g. A credit of $1,450 in Accounts Payable was overlooked when the balance of the account was determined.

h. A debit of $2,500 for a withdrawal by the owner was posted as a debit to Chea Wynn, Capital.

i. The balance of $18,900 in Advertising Expense was entered as $19,800 in the trial balance.

j. Miscellaneous Expense, with a balance of $3,060, was omitted from the trial balance.


1. Prepare a corrected unadjusted trial balance as of January 31 of the current year.

2. Does the fact that the unadjusted trial balance in (1) is balanced mean that there are no errors in the accounts Explain.