Multiple choice: FUNDAMENTALS OFa. P28,800b. P33,000c. P25,500d. P17,80013. Which of the following errors, considerebalance totals to be unequal?a. Cash received from a customer on Munoz Company had the following account balances as of December 31.12.CashP15,000EquipmentAccounts PayableR. Munoz, CapitalR. Munoz, DrawingIncome from Services P18,500P7,000P4,200P10,300P3,000ordRent ExpenseSalaries ExpenseWhat is the credit balance of the trial balance?P6,000P2,00022300

Trial Balance: Trial balance is a statement in which closing balance of all ledger accounts are…

12. Munoz Company had the following account balances as of December 31. Cash Equipment Accounts Payable R. Munoz, Capital R. Munoz, Drawing Income from Services P18,500 P15,000 P7,000 P4,200 P10,300 P3,000 Rent Expense Salaries Expense What is the credit balance of the trial balance? P6,000 P2,000

12. Munoz Company had the following account balances as of December 31. Cash Equipment Accounts Payable R. Munoz, Capital R. Munoz, Drawing Income from Services P18,500 P15,000 P7,000 P4,200 P10,300 P3,000 Rent Expense Salaries Expense What is the credit balance of the trial balance? P6,000 P2,000

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter16: Financial Statement Analysis

Section: Chapter Questions

Problem 9E

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