Exercise+3-2 - 23,220 25,150 25,150 Notes from Problem: A....

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Geronimo Company Trial Balance April 30, 2010 Trial Balance from book Each acct has normal balance Trial Balance Corrected Note Dr. Cr. Dr. Cr. Dr. Cr. Cash 2,100 2,100 2,100 Accounts Receivable 2,570 2,570 2,750 C Prepaid Insurance 700 700 1,700 B Equipment 8,000 8,000 8,000 Accounts Payable 4,500 4,500 3,500 B Property Tax Payable 560 560 560 Geronimo, Capital 11,200 11,200 14,400 E Geronimo, Drawing 3,200 E Service Revenue 6,960 6,960 6,690 C Salaries Expense 4,200 4,200 4,200 Advertising Expense 1,100 1,100 1,400 D Property Tax Expense 800 800 1,800 B 18,190 24,500 19,470
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Unformatted text preview: 23,220 25,150 25,150 Notes from Problem: A. Each account has a normal balance. B. The debit footings in Prepaid Insurance, Accounts Payable, and Property Tax Expense were each understated by $1,000. C. A transposition error was made in Accounts Receivable and Service Revenue; the correct balances for AR and Ser. 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....
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This note was uploaded on 03/02/2012 for the course AICS 3115 taught by Professor Lynnalmond during the Spring '11 term at Virginia Tech.

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