1. Analysis of errors in trial balance.:

A P950 purchase of supplies on account was recorded as a debit of P1,950 to Equipment and a credit of P1,950 to Accounts Payable. Which of the trial balance totals, debit or credit, is the larger (where applicable)?

a. credit

b. debit

c. not applicable

2.

Analysis of errors in trial balance.:

The advance payment of P120,000 for rent recorded using a real account was recorded as P210,000. Which of the trial balance totals, debit or credit, is the larger (where applicable)?

a. debit

b. credit

c. not applicable

3. Assets and liabilities started with balances of P75,000 and P25,000, respectively. By the end of the year, assets doubled while liabilities were reported at 150% of the year-end balance of capital which in turn was a 20% increase from its beginning balance. How much is the ending balance of liablities

a. P50,000

b. P90,000

c. P25,000

P150,000