EXERCICE: We have received the trial balance from our videogame start up GEPLAY for the year-end.

Account Debit Credit

Cash 5,000.00

Debtors 50,000.00

Furniture 80,000.00

Computers 4,000.00

Purchase 150,000.00

Sales 300,000.00 (credit)

Other Revenue 10,000.00

Creditors 30,000.00

Salaries 60,000.00

Energy 6,000.00

Rent 16,500.00

Marketing 30,000.00

Short Term Loan 10,000.00

Capital 150,000.00 (credit)

Retained Earnings 1,500.00 (credit)

Total 451,500.00 (debit) 451,500.00 (credit)

Correct the following mistakes using T- accounts or balance sheet equation

2.1.First check if there are mistakes in the trial balance

2.2.The accountant informed you that there is an invoice for 10.000 from our customer Apple that has not been booked

2.3.Also you find out that another invoice for 5.000 from Apple was booked under Accounts payable

2.4.You found out that an asset tool worth 5.000 with 3 years useful life, was booked as maintenance costs

2.5.3,500 were received from Apple but this amount was credited in the amount of Google

2.6.We have not received December invoice for Endesa energy supplier. You should book a provision. Please explain your assumptions.