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
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter12: Intangibles
Section: Chapter Questions
Problem 3MC
Related questions
Question
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 2 steps
Recommended textbooks for you
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning
Intermediate Accounting: Reporting And Analysis
Accounting
ISBN:
9781337788281
Author:
James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:
Cengage Learning
Cornerstones of Financial Accounting
Accounting
ISBN:
9781337690881
Author:
Jay Rich, Jeff Jones
Publisher:
Cengage Learning