Gualberto Magdaraog Repair Service
to
Trial Balance Jan. 31, 2019
Cash
P 110,400
Accounts Receivable
284,600 66,400
40,000
526,800
Supplies
Office Equipment
Prepaid Insurance Notes Payable Accounts Payable Magdaraog Jr., Capital Repair Revenues Salaries Expense Advertising Expense Totals
Magdaraog Jr., Withdrawals
P 130,000 195,400
297,200
348,700
821,400
12,200 P1,389,100
P1,544,000
The following information is obtained from a review of the record keeping process: a. An account receivable for P19,600 was incorrectly added as P16,900 when
computing the balance of the Accounts Receivable account. Expense
b. A debit posting from the journal for P5,200 is missing from the Advertising account. c. A credit posting of P15,000 to Notes Payable should have been made to Accounts
Payable. d. A debit posting of P34,000 to Supplies was incorrectly posted as P3,400. e. Credits to the ledger Accounts Payable account were under-footed by P60,000. f. Revenues are overstated in the ledger account by P40,000. 8. A credit posting for Repair Revenues from the journal in the amount of P63,600 is
missing.
h. Supplies acquired in the amount of P17,400 have been incorrectly posted to the Office Equipment account.
Required: Prepare a corrected trial balance.