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Prepare the necessary correcting entry for each of the following A payment on account of $840...
Prepare the necessary correcting entry for each of the following. (Credit account titles are automatically indented...
Prepare the necessary
correcting entry for each of the following. (Credit account titles
are automatically indented when the amount is entered. Do not
indent manually.) a. A payment on account of $840 was debited to
Accounts Payable $480 and credited to Cash $480. b. The collection
of Accounts Receivable of $680 was recorded as a debit to Cash $680
and a credit to Service Revenue $680.
Question 6 Prepare the necessary correcting entry for each of the following. (Credit account...
Problem 4-BA The following accounting items were found in the journal of Wildhorse Company: 1. 2....
Problem 4-BA The following accounting items were found in the journal of Wildhorse Company: 1. 2. 3. 4. S. 6. 7. 8. The payment of the current month's rent for $590 was recorded as a debit to Interest Payable and a credit to Cash, both for $590. (Note: This had not been previously accrued.) The collection of an account receivable for $480 was debited to Cash and credited to Service Revenue, both for $480. A payment for Utilities Expense of...
Each of the listed accounts has a normal balance per the general ledger. An examination of...
Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $750, and Accounts Receivable was credited for the same amount. The actual collection was for $570. 2. The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340. 3. Services...
Exercise 3-4 The following trial balance of Teal Co. does not balance.
Exercise 3-4The following trial balance of Teal Co. does not balance.TEAL CO.TRIAL BALANCEJUNE 30, 2017DebitCreditCash$3,099Accounts Receivable$3,460Supplies1,029Equipment4,029Accounts Payable2,895Unearned Service Revenue1,429Common Stock6,229Retained Earnings3,229Service Revenue2,609Salaries and Wages Expense3,629Office Expense1,169Totals$14,745$18,061Each of the listed accounts should have a normal balance per the
general ledger. An examination of the ledger and journal reveals
the following errors.1.Cash received from a customer on account was debited for $570,
and Accounts Receivable was credited for the same amount. The
actual collection was for $750.2.The purchase of a computer printer...
The following trial balance of Coronado Co. does not balance. CORONADO CO. TRIAL BALANCE JUNE 30,...
The following trial balance of Coronado Co. does not balance. CORONADO CO. TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $3,147 Accounts Receivable $2,964 Supplies 1,077 Equipment 4,077 Accounts Payable 2,943 Unearned Service Revenue 1,477 Common Stock 6,277 Retained Earnings 3,277 Service Revenue 2,657 Salaries and Wages Expense 3,677 Office Expense 1,217 Totals $14,489 $18,301 Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors....
The following trial balance of Novak Co.does not balance. NOVAK CO. TRIAL BALANCE JUNE 30, 2020...
The following trial balance of Novak Co.does not balance. NOVAK CO. TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $3,355 Accounts Receivable $2,736 Supplies 1,285 Equipment 4,285 Accounts Payable 3,151 Unearned Service Revenue 120C 1,685 Common Stock 6,485 Retained Earnings 3,485 2,865 3,885 Service Revenue Salaries and Wages Expense Office Expense Totals 1,425 $15,301 $19,341 Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors....
The following trial balance of Vaughn Co. does not balance. VAUGHN CO. TRIAL BALANCE JUNE 30,...
The following trial balance of Vaughn Co. does not balance. VAUGHN CO. TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $3,195 Accounts Receivable $2,946 Supplies 1,125 Equipment 4,125 Accounts Payable 2,991 Unearned Service Revenue 1,525 Common Stock 6,325 Retained Earnings 3,325 Service Revenue 2,705 Salaries and Wages Expense 3,725 Office Expense 1,265 Totals $14,711 $18,541 Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors....
The following trial balance of Coronado Co. does not balance. CORONADO CO. TRIAL BALANCE JUNE 30,...
The following trial balance of Coronado Co. does not balance. CORONADO CO. TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $3,147 Accounts Receivable $2,964 Supplies 1,077 Equipment 4,077 Accounts Payable 2,943 Unearned Service Revenue 1,477 Common Stock 6,277 Retained Earnings 3,277 Service Revenue 2,657 Salaries and Wages Expense 3,677 Office Expense 1,217 Totals $14,489 $18,301 Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors....
Culver Company discovered the following errors made in January 2019. 1. A payment of Salaries and...
Culver Company discovered the following errors made in January
2019. 1. A payment of Salaries and Wages Expense of $580 was
debited to Equipment and credited to Cash, both for $580. 2. A
collection of $3,700 from a client on account was debited to Cash
$370 and credited to Service Revenue $370. 3. The purchase of
equipment on account for $730 was debited to Equipment $450 and
credited to Accounts Payable $450.
No. Account Titles and Explanation Credit Debit 580...
Quality Services Inc. made the following accounting errors during a recent month. Requirement: Prepare the necessary...
Quality Services Inc. made the following accounting errors during a recent month. Requirement: Prepare the necessary adjusting journal entries to correct these errors. 1. The company recorded a $450 purchase of supplies on account by debiting Supplies and crediting Accounts payable for $540. 2. In journalizing a receipt of cash for service revenue, cash was debited for $120 instead of the correct amount of $1200. The credit was correct. 3. In recording an $800 payment on account, Accounts receivable was...
Prepare the necessary
correcting entry for each of the following. (Credit account titles
are automatically indented when the amount is entered. Do not
indent manually.) a. A payment on account of $840 was debited to
Accounts Payable $480 and credited to Cash $480. b. The collection
of Accounts Receivable of $680 was recorded as a debit to Cash $680
and a credit to Service Revenue $680.
Question 6 Prepare the necessary correcting entry for each of the following. (Credit account...
Problem 4-BA The following accounting items were found in the journal of Wildhorse Company: 1. 2. 3. 4. S. 6. 7. 8. The payment of the current month's rent for $590 was recorded as a debit to Interest Payable and a credit to Cash, both for $590. (Note: This had not been previously accrued.) The collection of an account receivable for $480 was debited to Cash and credited to Service Revenue, both for $480. A payment for Utilities Expense of...
Each of the listed accounts has a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors: 1. Cash received from a customer on account was debited for $750, and Accounts Receivable was credited for the same amount. The actual collection was for $570. 2. The purchase of a printer on account for $340 was recorded as a debit to Supplies for $340 and a credit to Accounts Payable for $340. 3. Services...
Exercise 3-4The following trial balance of Teal Co. does not balance.TEAL CO.TRIAL BALANCEJUNE 30, 2017DebitCreditCash$3,099Accounts Receivable$3,460Supplies1,029Equipment4,029Accounts Payable2,895Unearned Service Revenue1,429Common Stock6,229Retained Earnings3,229Service Revenue2,609Salaries and Wages Expense3,629Office Expense1,169Totals$14,745$18,061Each of the listed accounts should have a normal balance per the
general ledger. An examination of the ledger and journal reveals
the following errors.1.Cash received from a customer on account was debited for $570,
and Accounts Receivable was credited for the same amount. The
actual collection was for $750.2.The purchase of a computer printer...
The following trial balance of Novak Co.does not balance. NOVAK CO. TRIAL BALANCE JUNE 30, 2020 Debit Credit Cash $3,355 Accounts Receivable $2,736 Supplies 1,285 Equipment 4,285 Accounts Payable 3,151 Unearned Service Revenue 120C 1,685 Common Stock 6,485 Retained Earnings 3,485 2,865 3,885 Service Revenue Salaries and Wages Expense Office Expense Totals 1,425 $15,301 $19,341 Each of the listed accounts should have a normal balance per the general ledger. An examination of the ledger and journal reveals the following errors....
Culver Company discovered the following errors made in January
2019. 1. A payment of Salaries and Wages Expense of $580 was
debited to Equipment and credited to Cash, both for $580. 2. A
collection of $3,700 from a client on account was debited to Cash
$370 and credited to Service Revenue $370. 3. The purchase of
equipment on account for $730 was debited to Equipment $450 and
credited to Accounts Payable $450.
No. Account Titles and Explanation Credit Debit 580...
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