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Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: • Cash received from a customer in payment of its account was debited for P570, and Accounts Receivable was credited for the same amount. The actual collection was for P750. The purchase of a computer on account for P620 was recorded as a debit to Supplies for P620 and a credit to Accounts Payable for P620. • Services were performed on account for a client for P89O. Accounts Receivable was debited for P890, and Service Revenue was credited for P89. A debit posting to Salaries and Wages Expense of P700 was omitted. A payment of a balance due for P309 was credited to Cash for P309 and credited to Accounts Payable for P390. • The withdrawal by owner of P600 cash was debited to Salaries and Wages Expense for P600 and credited to Cash for P600. The corrected trial balance of the company should show total debits of? Note for your final answer: 1. Do not use peso sign 2. Do not use comma 3. Do not use decimal point 4. Round off your final answer to the nearest whole number

Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: • Cash received from a customer in payment of its account was debited for P570, and Accounts Receivable was credited for the same amount. The actual collection was for P750. The purchase of a computer on account for P620 was recorded as a debit to Supplies for P620 and a credit to Accounts Payable for P620. • Services were performed on account for a client for P89O. Accounts Receivable was debited for P890, and Service Revenue was credited for P89. A debit posting to Salaries and Wages Expense of P700 was omitted. A payment of a balance due for P309 was credited to Cash for P309 and credited to Accounts Payable for P390. • The withdrawal by owner of P600 cash was debited to Salaries and Wages Expense for P600 and credited to Cash for P600. The corrected trial balance of the company should show total debits of? Note for your final answer: 1. Do not use peso sign 2. Do not use comma 3. Do not use decimal point 4. Round off your final answer to the nearest whole number

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: • Cash received from a customer in payment of its account was debited for P570, and Accounts Receivable was credited for the same amount. The actual collection was for P750. The purchase of a computer on account for P620 was recorded as a debit to Supplies for P620 and a credit to Accounts Payable for P620. • Services were performed on account for a client for P89O. Accounts Receivable was debited for P890, and Service Revenue was credited for P89. A debit posting to Salaries and Wages Expense of P700 was omitted. A payment of a balance due for P309 was credited to Cash for P309 and credited to Accounts Payable for P390. • The withdrawal by owner of P600 cash was debited to Salaries and Wages Expense for P600 and credited to Cash for P600. The corrected trial balance of the company should show total debits of? Note for your final answer: 1. Do not use peso sign 2. Do not use comma 3. Do not use decimal point 4. Round off your final answer to the nearest whole number
Transcribed Image Text:Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: • Cash received from a customer in payment of its account was debited for P570, and Accounts Receivable was credited for the same amount. The actual collection was for P750. The purchase of a computer on account for P620 was recorded as a debit to Supplies for P620 and a credit to Accounts Payable for P620. • Services were performed on account for a client for P89O. Accounts Receivable was debited for P890, and Service Revenue was credited for P89. A debit posting to Salaries and Wages Expense of P700 was omitted. A payment of a balance due for P309 was credited to Cash for P309 and credited to Accounts Payable for P390. • The withdrawal by owner of P600 cash was debited to Salaries and Wages Expense for P600 and credited to Cash for P600. The corrected trial balance of the company should show total debits of? Note for your final answer: 1. Do not use peso sign 2. Do not use comma 3. Do not use decimal point 4. Round off your final answer to the nearest whole number
Flex Ko Lang Trial Balance April 30, 2019 Debit Credit Cash P 3,840 Accounts Receivable P 2,898 Supplies 800 Equipment 3,000 Accounts Payable 2,666 Unearned Service Revenue 2,200 Flex, Capital 9,000 Flex, Drawings 800 Service Revenue 2,380 Salaries and Wages Expense 3,400 Utilities Expense 910
Transcribed Image Text:Flex Ko Lang Trial Balance April 30, 2019 Debit Credit Cash P 3,840 Accounts Receivable P 2,898 Supplies 800 Equipment 3,000 Accounts Payable 2,666 Unearned Service Revenue 2,200 Flex, Capital 9,000 Flex, Drawings 800 Service Revenue 2,380 Salaries and Wages Expense 3,400 Utilities Expense 910
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