Reference no: EM13373267

(Corrected Trial Balance) : 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 
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 

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