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A journal entry for a $65 payment for rent expense was posted as a debit to...
A journal entry for a $800 payment for Prepaid Rent was erroneously recorded as a debit...
A journal entry for a $800 payment for Prepaid Rent was erroneously recorded as a debit to Prepaid Rent for$1,000 and a credit to Cash for $800. Which of the following statements correctly states the effect of the error on the trial balance? O A. The sum of the debits will exceed the sum of the credits by $200. B. The sum of the debits will exceed the sum of the credits by $1,800. OC. The sum of the credits...
A journal entry for a $400 payment for Prepaid Rent was erroneously recorded as a debit...
A journal entry for a $400 payment for Prepaid Rent was erroneously recorded as a debit to Prepaid Rent for $100, and a credit to Cash for $400. Which of the following statements correctly states the effect of the error on the trial balance? A. The sum of the debits will exceed the sum of the credits by $100. B. The sum of the credits will exceed the sum of the debits by $300. C. The sum of the credits...
A journal entry for a $210 payment to purchase office supplies was erroneously recorded as a...
A journal entry for a $210 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $550 and a credit to Cash for $210. Which of the following statements correctly states the effect of the error on the trial balance? Select one: A. The sum of the credits will exceed the sum of the debits by $340, B. The sum of the debits will exceed the sum of the credits by $210. C. The sum...
Coyote Co. paid $8,000 rent in advance. The journal entry would require: O A. debit to...
Coyote Co. paid $8,000 rent in advance. The journal entry would require: O A. debit to Cash, credit to Rent Expense. B. debit to Cash, credit to Prepaid Rent. ° C. debit to Prepaid Rent, credit to Cash. D. debit to Rent Expense, credit to Cash. The columns on a trial balance represent: OA. subtotals and totals. O B. revenues and expenses. O C. debits and credits O D. common stock and dividends The columns on a trial balance represent:...
A $4,500 payment for Rent Expense was incorrectly journalized and posted as a debit to Rent...
A $4,500 payment for Rent Expense was incorrectly journalized and posted as a debit to Rent Expense for $5,400 and a credit to Cash for $5,400. The correcting entry, using the one-step method, would include a Select one: a. debit to Cash for $900. b. credit to Rent Expense for $4,500. c. credit to Rent Expense for $5,400. d. credit to Cash for $90.
Date Account Debit Credit Jan 1 2013 $ 12,000 Prepaid Rent Cash (To record payment of...
Date Account Debit Credit Jan 1 2013 $ 12,000 Prepaid Rent Cash (To record payment of insurance) $ 12,000 Jan 4 2013 $ 1.900 Cash Service Revenue (To record service revenue) $ 1,900 Jan 9 2013 $ 850 Advertising Expense Cash (To record advertising expense payment) $ 850 Jan 10 2013 $ 75 Office Supplies Expense Cash To record purchase of office supplies) $ 75 $ 2,725 Jan 14 2013 Cash Service Revenue (To record service revenue) $ 2.725 Jan...
Question 14 The journal entry to record a payment made in January for rent for the...
Question 14 The journal entry to record a payment made in January for rent for the months of February and March would include O a debit to Sue Snow. Drawing and a credit to Rent Expense. a debit to Sue Snow, Capital, and a credit to Cash. O a debit to Prepaid Rent and a credit to Cash. a debit to Rent Expense and a credit to Cash. Question 15 If a transaction is properly analyzed and recorded, one account...
Multiple Choice Questions: 1) An example on an ACCRUAL journal entry is: A) Debit to Interest...
Multiple Choice Questions: 1) An example on an ACCRUAL journal entry is: A) Debit to Interest Expense and Credit to Interest Payable, because the expense has been incurred but it wasn't paid yet which creates a liability B) Debit to A/R and Credit to Service Revenue because the service has been provided and the customer already paid us in advance C) Debit to Salaries Expense and Credit to Salaries Payable, because the expense has been incurred and cash was paid...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below. Debit Credit...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below. Debit Credit Cash Accounts Recelvable Prepaid Rent S 9,600 14,600 6,720 3,600 Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 2,600 10,000 5,600 49,320 33,000 $67,520 $67,520 At year-end, the following additional information is available a. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2018, for rent from November 1, 2018, to April 30, 2019. b. The balance of Deferred...
plz solve all the questions ed Jane Doe has prepared the trial balance for Braven Corp....
plz solve all the questions
ed Jane Doe has prepared the trial balance for Braven Corp. Total debits are $25,678 while total credits are $30,034. Which of the following errors has Jane likely made? of stion Select one: O a journal entry is posted twice O a correct journal entry is not posted posted a debit as a credit e a transaction error Which of the following is incorrect? Select one: O A trial balance lists balances at a specific...
A journal entry for a $800 payment for Prepaid Rent was erroneously recorded as a debit to Prepaid Rent for$1,000 and a credit to Cash for $800. Which of the following statements correctly states the effect of the error on the trial balance? O A. The sum of the debits will exceed the sum of the credits by $200. B. The sum of the debits will exceed the sum of the credits by $1,800. OC. The sum of the credits...
A journal entry for a $400 payment for Prepaid Rent was erroneously recorded as a debit to Prepaid Rent for $100, and a credit to Cash for $400. Which of the following statements correctly states the effect of the error on the trial balance? A. The sum of the debits will exceed the sum of the credits by $100. B. The sum of the credits will exceed the sum of the debits by $300. C. The sum of the credits...
A journal entry for a $210 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for $550 and a credit to Cash for $210. Which of the following statements correctly states the effect of the error on the trial balance? Select one: A. The sum of the credits will exceed the sum of the debits by $340, B. The sum of the debits will exceed the sum of the credits by $210. C. The sum...
Coyote Co. paid $8,000 rent in advance. The journal entry would require: O A. debit to Cash, credit to Rent Expense. B. debit to Cash, credit to Prepaid Rent. ° C. debit to Prepaid Rent, credit to Cash. D. debit to Rent Expense, credit to Cash. The columns on a trial balance represent: OA. subtotals and totals. O B. revenues and expenses. O C. debits and credits O D. common stock and dividends The columns on a trial balance represent:...
Date Account Debit Credit Jan 1 2013 $ 12,000 Prepaid Rent Cash (To record payment of insurance) $ 12,000 Jan 4 2013 $ 1.900 Cash Service Revenue (To record service revenue) $ 1,900 Jan 9 2013 $ 850 Advertising Expense Cash (To record advertising expense payment) $ 850 Jan 10 2013 $ 75 Office Supplies Expense Cash To record purchase of office supplies) $ 75 $ 2,725 Jan 14 2013 Cash Service Revenue (To record service revenue) $ 2.725 Jan...
Question 14 The journal entry to record a payment made in January for rent for the months of February and March would include O a debit to Sue Snow. Drawing and a credit to Rent Expense. a debit to Sue Snow, Capital, and a credit to Cash. O a debit to Prepaid Rent and a credit to Cash. a debit to Rent Expense and a credit to Cash. Question 15 If a transaction is properly analyzed and recorded, one account...
The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below. Debit Credit Cash Accounts Recelvable Prepaid Rent S 9,600 14,600 6,720 3,600 Deferred Revenue Common Stock Retained Earnings Service Revenue Salaries Expense $ 2,600 10,000 5,600 49,320 33,000 $67,520 $67,520 At year-end, the following additional information is available a. The balance of Prepaid Rent, $6,720, represents payment on October 31, 2018, for rent from November 1, 2018, to April 30, 2019. b. The balance of Deferred...
plz solve all the questions
ed Jane Doe has prepared the trial balance for Braven Corp. Total debits are $25,678 while total credits are $30,034. Which of the following errors has Jane likely made? of stion Select one: O a journal entry is posted twice O a correct journal entry is not posted posted a debit as a credit e a transaction error Which of the following is incorrect? Select one: O A trial balance lists balances at a specific...
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