The trial balance of Geronimo Company does not balance

The trial balance of Geronimo Company does not balance -...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
The trial balance of Geronimo Company 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 Geronimo, Capital, and credited to Cash. GERONIMO COMPANY Trial Balance April 30, 2010 Debit Credit
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Cash $2,100 Accounts Receivable 2,570 Prepaid Insurance 700 Equipment $8,000 Accounts Payable 4,500 Property Tax Payable 560 Geronimo, Capital 11,200 Service Revenue 6,960 Salaries Expense 4,200 Advertising Expense 1,100 Property Tax Expense 800 __________ __________ $18,190 $24,500 Prepare a correct trial balance. (If answer is zero, please enter 0, do not leave any fields blank.) GERONIMO COMPANY Trial Balance April 30, 2010 Debit Credit Cash Accounts Receivable Prepaid Insurance Equipment Accounts Payable Property Tax Payable Geronimo, Capital Geronimo, Drawing Service Revenue Salaries Expense Advertising Expense Property Tax Expense...
View Full Document

This note was uploaded on 09/29/2010 for the course ACCOUNTIN 1332 taught by Professor Dude during the Spring '10 term at Andhra University.

Page1 / 2

The trial balance of Geronimo Company does not balance -...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online