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The following error was discovered: Office supplies purchased for $200 was recorded by a debit to...
Question 17 1.5 pts Supplies purchased on account were incorrectly recorded as Office Equipment. The correcting...
Question 17 1.5 pts Supplies purchased on account were incorrectly recorded as Office Equipment. The correcting entry would be Supplies, debit: Office Equipment, credit. Office Equipment, debit; Supplies Expense, credit. O Supplies, debit: Accounts Payable, credit. Accounts receivable, debit; Supplies, credit.
Prior to recording adjusting entries, the Office Supplies account had a $370 debit balance. A physical...
Prior to recording adjusting entries, the Office Supplies account had a $370 debit balance. A physical count of the supplies showed $111 of unused supplies available. The required adjusting entry is: Multiple Choice () Debit Office Supplies $259 and credit Office Supplies Expense $259, Doha Debit Office Supplies Expense $111 and credit Office Supplies $111. 0 O Debit Office Supplies $111 and credit Supplies Expense $259. 0 Debit Office Supplies $111 and credit Office Supplies Expense $111 0 O Debit...
I need the full solution please APPLICATION PROBLEM Journalizing correcting entries The following errors were discovered...
I need the full solution please
APPLICATION PROBLEM Journalizing correcting entries The following errors were discovered after the incorrect entries were already journalized and 4-4 posted. Transactions: Apr. 1. Discovered that a transaction for utilities expense was journalized and posted in error as a debit to Repairs Expense instead of Utilities Expense, $265.00. M66. 5. Discovered that a cash investment by Manuel Ricardo, owner, was journalized and posted in error as a credit to Sales instead of Manuel Ricardo, Capital,...
Prior to recording adjusting entries, the Office Supplies account had a $379 debit balance. A physical...
Prior to recording adjusting entries, the Office Supplies account had a $379 debit balance. A physical count of the supplies showed $104 of unused supplies available. The required adjusting entry is: 18 Multiple Choice polnts X 01:50:34 Debit Office Supplies Expense $104 and credit Office Supplies $104. Debit Office Supplies $104 and credit Office Supplies Expense $104 Debit Office Supplies $104 and credit Supplies Expense $275. Debit Office Supplies Expense $275 and credit Office Supplies $275. Debit Office Supplies $275...
4-4 APPLICATION PROBLEM Journalizing correcting entries The following errors were discovered after the incorrect entries were...
4-4 APPLICATION PROBLEM Journalizing correcting entries The following errors were discovered after the incorrect entries were already journalized and posted Transactions: Apr. 1. Discovered that a transaction for utilities expense was journalized and posted in error as a debit to Repairs Expense instead of Utilities Expense, $265.00. M66 5. Discovered that a cash investment by Manuel Ricardo, owner, was journalized and posted in error as a credit to Sales instead of Manuel Ricardo, Capital, $600.00. M67. Instructions: Journalize each correcting...
A purchase of supplies for $213 on account was recorded and posted as a debit to Supplies for $446
Journalize the entries to correct the following errors: a. A purchase of supplies for $213 on account was recorded and posted as a debit to Supplies for $446 and as a credit to Accounts Receivable for $446. (Record the entry to reverse the error first.) b. A receipt of $4,410 from Fees Earned was recorded and posted as a debit to Fees Earned for $4,410 and a credit to Cash for $4,410.
A physical count of supplies on hand at the end of May for Masters, Inc. indicated...
A physical count of supplies on hand at the end of May for Masters, Inc. indicated $1.256 of supplies on hand. The general ledger balance before any adjustment is $2,160. What is the adjusting entry for office supplies that should be recorded on May 31? Multiple Choice O O O Debit Supplies Expense $1.256 and credit Supplies $1.256. c) Debit Supplies Expense $904 and credit Supplies $904 O Debit Supplies Expense $2,160 and credit Supplies $2,160. O Debit Prepaid Supplies...
A total of $3,900 in supplies was purchased during the year. At the end of the...
A total of $3,900 in supplies was purchased during the year. At the end of the year $980 of the supplies were left. The adjusting entry needed at the end of the year is. Multiple Choice debit Supplies Expense $3,900, credit Supplies $3,900 O debit Supplies Expense $2.920, credit Supplies $2,920 O debit Supplies Expense $980; credit Supplies $980 debit Supplies $2.920. credit Supplies Expense $2.920
The ruling method can be used if an error is discovered before or after an entry...
The ruling method can be used if an error is discovered before or after an entry was posted. A line is drawn through the incorrect account title or amount and the correct account title or amount written immediately above. The person making the correction also includes his or her initials with the correction. The correcting entry method is used if an error is discovered after an incorrectly journalized entry was posted. If the error consists of the wrong account(s), an...
i need help with journal entries M Completed by Apple Realty during November Purchased office supplies...
i
need help with journal entries
M Completed by Apple Realty during November Purchased office supplies on account, $2,100. 2 Paid rent on office for month, $4,000. 3 Received cash from clients on account, $44,600. 5 Paid annual insurance premiums, $5,700. 9 Returned a portion of the office supplies purchased on November 1, receiving full credit for their cost, $400. 17 Paid advertising expense, $5,500. 23 Paid creditors on account, $4,950. 29 Paid miscellaneous expenses, $500. 30 Paid automobile expense...
Question 17 1.5 pts Supplies purchased on account were incorrectly recorded as Office Equipment. The correcting entry would be Supplies, debit: Office Equipment, credit. Office Equipment, debit; Supplies Expense, credit. O Supplies, debit: Accounts Payable, credit. Accounts receivable, debit; Supplies, credit.
Prior to recording adjusting entries, the Office Supplies account had a $370 debit balance. A physical count of the supplies showed $111 of unused supplies available. The required adjusting entry is: Multiple Choice () Debit Office Supplies $259 and credit Office Supplies Expense $259, Doha Debit Office Supplies Expense $111 and credit Office Supplies $111. 0 O Debit Office Supplies $111 and credit Supplies Expense $259. 0 Debit Office Supplies $111 and credit Office Supplies Expense $111 0 O Debit...
I need the full solution please
APPLICATION PROBLEM Journalizing correcting entries The following errors were discovered after the incorrect entries were already journalized and 4-4 posted. Transactions: Apr. 1. Discovered that a transaction for utilities expense was journalized and posted in error as a debit to Repairs Expense instead of Utilities Expense, $265.00. M66. 5. Discovered that a cash investment by Manuel Ricardo, owner, was journalized and posted in error as a credit to Sales instead of Manuel Ricardo, Capital,...
Prior to recording adjusting entries, the Office Supplies account had a $379 debit balance. A physical count of the supplies showed $104 of unused supplies available. The required adjusting entry is: 18 Multiple Choice polnts X 01:50:34 Debit Office Supplies Expense $104 and credit Office Supplies $104. Debit Office Supplies $104 and credit Office Supplies Expense $104 Debit Office Supplies $104 and credit Supplies Expense $275. Debit Office Supplies Expense $275 and credit Office Supplies $275. Debit Office Supplies $275...
4-4 APPLICATION PROBLEM Journalizing correcting entries The following errors were discovered after the incorrect entries were already journalized and posted Transactions: Apr. 1. Discovered that a transaction for utilities expense was journalized and posted in error as a debit to Repairs Expense instead of Utilities Expense, $265.00. M66 5. Discovered that a cash investment by Manuel Ricardo, owner, was journalized and posted in error as a credit to Sales instead of Manuel Ricardo, Capital, $600.00. M67. Instructions: Journalize each correcting...
A physical count of supplies on hand at the end of May for Masters, Inc. indicated $1.256 of supplies on hand. The general ledger balance before any adjustment is $2,160. What is the adjusting entry for office supplies that should be recorded on May 31? Multiple Choice O O O Debit Supplies Expense $1.256 and credit Supplies $1.256. c) Debit Supplies Expense $904 and credit Supplies $904 O Debit Supplies Expense $2,160 and credit Supplies $2,160. O Debit Prepaid Supplies...
A total of $3,900 in supplies was purchased during the year. At the end of the year $980 of the supplies were left. The adjusting entry needed at the end of the year is. Multiple Choice debit Supplies Expense $3,900, credit Supplies $3,900 O debit Supplies Expense $2.920, credit Supplies $2,920 O debit Supplies Expense $980; credit Supplies $980 debit Supplies $2.920. credit Supplies Expense $2.920
i
need help with journal entries
M Completed by Apple Realty during November Purchased office supplies on account, $2,100. 2 Paid rent on office for month, $4,000. 3 Received cash from clients on account, $44,600. 5 Paid annual insurance premiums, $5,700. 9 Returned a portion of the office supplies purchased on November 1, receiving full credit for their cost, $400. 17 Paid advertising expense, $5,500. 23 Paid creditors on account, $4,950. 29 Paid miscellaneous expenses, $500. 30 Paid automobile expense...
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