A partial trial balance of Pharoah Corporation at December $31,2023,$ follows:

Dr$.$

Supplies

$$8,800$

Salaries and wages payable

$$5,800$

Interest receivable

$2,640$

Prepaid insurance

$113,800$

Unearned rent revenue

$-0-$

Interest payable

$15,600$

Additional adjusting data:

A physical count of supplies on hand on December $31,2023,$ totalled $$4,300.$ Through an oversight, the Salaries and Wages

Payable account was not changed during $2023.$ Accrued salaries and wages on December $31,2023,$ amounted to $$8,000.$

The Interest Receivable account was also left unchanged during $2023.$ Accrued interest on investments amounted to $$2,000$

on December $31,2023.$

The unexpired portions of the insurance policies totalled $$46,200$ as at December $31,2023.$

A cheque for $$77,000$ was received on January $1,2023,$ for the rent of a building for both $2023$ and $2024.$ The entire amount

was credited to Rent Revenue.

Depreciation on equipment for the year was recorded in error as $$4,850$ rather than the correct figure of $$48,500.$

A further review of prior years' depreciation calculations revealed that depreciation on equipment of $$19,600$ had not been

recorded. It was decided that this oversight should be corrected by adjusting prior years' income.

Assume that Pharoah applies IFRS.