3-64 \\ Basic Financial Accounting and Reporting by Prof. WIN Ballada NAME: SCORE: SECTION: PROFESSOR: Problem #21 Correcting a Trial Balance The June 2020 trial balance for Davao Duplicators, owned by Allan Brillantes is presented below. The regular bookkeeper has resigned and left the following trial balance. It did not balance. Davao Duplicators Trial Balance June 30, 2020 Cash P 44,800 Accounts Receivable 189,600 Supplies 70,800 Equipment 560,000 Accounts Payable 72,600 Brillantes, Capital 513,000 Brillantes, Withdrawals 50,000 Revenues 371,600 Salaries Expense 35,000 Rent Expense 10,000 Utilities Expense 6,400 Totals P916,600 P1,017,200 Upon reviewing the trial balance and the process of transferring the amounts in the ledger accounts to the trial balance, two errors were discovered: a. The debit column in the trial balance was footed incorrectly. b. The balance in the accounts payable ledger account of P62,700 was transferred as P72,600. discovered: When the balances of the ledger accounts were recomputed, two more errors were c. The Utilities Expense account balance was overstated by P1,800. d. The total debits in the Cash account amounted to P184,600 and the credits totaled P149,800. ledger: Discovered four more errors when postings were retraced from the journal to the e. A debit posting to Accounts Receivable in the amount of P52,000 should have been P5,200. f. A debit posting to Accounts Payable for P46,000 was missing. g. A credit posting to Revenues in the amount of P7,600 was missing. h. A credit of P31,000 was posted to Accounts Payable rather than P30, 100. Required: Prepare a corrected trial balance