Maurice Tutor

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Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 2 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 25 Sep 2017 My Price 9.00

Geronimo Company

E-2 The trial balance of Geronimo Company, shown on the next page, does not balance. Your review of the ledger reveals the following: (a) Each account had a normal balance. (b) The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated $1,000. (c) A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for Accounts Receivable and Service Revenue are $2,750 and $6,690, respectively. (d) A debit posting to Advertising Expense of $300 was omitted. (e) A $3,200 cash drawing by the owner was debited to Owner’s Capital and credited to Cash.

GERONIMO COMPANY
TRIAL BALANCE
APRIL 30, 2012
 

Debit

Credit

Cash

$2,100

  

Accounts Receivable

2,570

  

Prepaid Insurance

700

  

Equipment

  

$8,000

Accounts Payable

  

4,500

Property Taxes Payable

560

  

Owner’s Capital

  

11,200

Service Revenue

6,960

  

Salaries and Wages Expense

4,200

  

Advertising Expense

1,100

  

Property Tax Expense

  

800
 

$18,190

$24,500

Instructions

Prepare a correct trial balance

Answers

Maurice Tutor
(5)
Status NEW Posted 25 Sep 2017 10:09 PM My Price 9.00

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