P2-53B Correcting Errors in the Trial Balance: Treasure Hunt Exploration Company

A case study on identifying and correcting errors in a trial balance for a fictional company.

Lily Green

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Correcting Errors in the Trial Balance: Treasure Hunt Exploration CompanyP2-53B-Treasure Hunt Exploration CompanyP2-53BCorrecting errors in a trial balance [15–25 min]The trial balance for Treasure Hunt Exploration Company does not balance.The following errors were detected:a.The cash balance is overstated by $1,000.

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Accounting

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