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.
Capital = $50,000 Retained Earnings = $10,100 Total Equity = $60,100 ejercicios resueltos de contabilidad
A/P = $3,500 Salaries Payable = $900 Loan Payable = $20,000 Total Liabilities = $24,400 Corrected Equity: Capital (initial) $50,000 + Net Income
Error: Forgot to include the initial capital of $50,000 in the trial balance? Actually, we started with cash from capital. Let’s adjust: Corrected Equity: Capital (initial) $50