Which of the following is correct? a.The correcting entry method can only be completed in two...
Which of the following is correct?
a.The correcting entry method can only be completed in two steps.
b.The manual ruling method can only be used to correct an error in the journal before posting.
c.The manual ruling method can be used to correct an error in the ledger after an entry has been posted.
d.All of these listed answers are correct.
Homework Answers
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Option D is the answer The two manual ways to correct the errors are 1. The manual ruling method and 2. Correcting entry method. The correcting entry method needs two steps. |
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Which of the following is correct?
a.The correcting entry method can only be completed in two...
The manual ruling method of correcting errors can be used before or after an entry has...
The manual ruling method of correcting errors can be used before or after an entry has been posted. Select one: True False
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...
1.Which of the following is not an error that would cause the trial balance to become...
1.Which of the following is not an error that would cause the trial balance to become unequal? a. Balance entered in wrong column of account b. Column incorrectly added c. The debit part of an entry posted to the wrong account as a debit d. Debit is posted as a credit, or vice versa 2. If a fee of $2,850 earned from a client was debited to Accounts Receivable for $2,580 and credited to Fees Earned for $2,850, which of...
A trial balance would only help in detecting which one of the following errors?
A trial balance would only help in detecting which one of the following errors? An error when transferring the debit side of journal entry to the ledger occurred; it was recorded as a credit. The credit side of the transaction was recorded correctly. A transaction that is not journalized. A journal entry that is posted twice. A trial balance would help detect all of these errors. For a given transaction, the account that should have been debited was credited and the account that should have...
Answer #4 only please Required: 1. Journalize each transaction in a two-column journal beginning on Page...
Answer #4 only
please
Required: 1. Journalize each transaction in a two-column journal beginning on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2.) Post (in chronological order) the journal to a ledger of four-column accounts, inserting appropriate posting references in both the journal and the ledger as each item is posted....
MAKE SURE YOUR ANSWER IS 100% CORRECT BEFORE POSTING THEM PLZZZ Which of the following steps...
MAKE SURE YOUR ANSWER IS 100% CORRECT BEFORE POSTING THEM PLZZZ
Which of the following steps are required in addition to cleaning and disinfecting of the BSC? Select all that apply. Answers A-D A Dissolution B Decontamination C Inactivation D Sterilizing A closed system transfer device should be used to protect the nurse. Answers A-B A True B False Which of the following items are contained in a chemotherapy spill kit? Select all that apply. Answers A-D A Mop B...
13. Atrial balance will NOT balance if A. a journal entry is posted twice. B. a...
13. Atrial balance will NOT balance if A. a journal entry is posted twice. B. a wrong amount is used in joumalizing C. incorrect account titles are used in journalizing. D. a journal entry is only partially posted 14. Which of the following statements regarding the periodic and perpetual inventory systems is correct? A. Inventory is updated after cach sale under the periodic method. B. Under the periodic method, the amount of inventory is not known until the end of...
How would I prepare a journal entry to correct these errors only using B? Krafty Kris,...
How would I prepare a journal entry to correct these errors only
using B?
Krafty Kris, Inc., discovered the following errors after the 2017 financial statements were issued: a. A major supplier shipped inventory valued at $8,550 to Krafty Kris on consignment. This merchandise was mistakenly included in the inventory taken by Krafty Kris on December 31, 2016. (Goods shipped on consignment are the property of the consignor and should not have been included in Krafty Kris's inventory.) b. Krafty...
On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the...
On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct 1 2 3 4 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, S40,000 Paid rent on office and equipment for the month, $4,800. Purchased supplies on account, $2,150. Paid creditor on account, $1,100. Earned sales commissions, receiving cash, 518,750. Paid automobile expenses (including rental charge) for month,...
On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the...
On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct. 1 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, $29,700. 2 Paid rent on office and equipment for the month, $2,250. 3 Purchased supplies on account, $2,300. 4 Paid creditor on account, $840. 5 Earned sales commissions, receiving cash, $14,500. 6 Paid automobile expenses (including rental charge)...
Answer #4 only
please
Required: 1. Journalize each transaction in a two-column journal beginning on Page 1, referring to the chart of accounts in selecting the accounts to be debited and credited. (Do not insert the post reference numbers until you have posted the entry to the general ledger in part 2.) Post (in chronological order) the journal to a ledger of four-column accounts, inserting appropriate posting references in both the journal and the ledger as each item is posted....
MAKE SURE YOUR ANSWER IS 100% CORRECT BEFORE POSTING THEM PLZZZ
Which of the following steps are required in addition to cleaning and disinfecting of the BSC? Select all that apply. Answers A-D A Dissolution B Decontamination C Inactivation D Sterilizing A closed system transfer device should be used to protect the nurse. Answers A-B A True B False Which of the following items are contained in a chemotherapy spill kit? Select all that apply. Answers A-D A Mop B...
13. Atrial balance will NOT balance if A. a journal entry is posted twice. B. a wrong amount is used in joumalizing C. incorrect account titles are used in journalizing. D. a journal entry is only partially posted 14. Which of the following statements regarding the periodic and perpetual inventory systems is correct? A. Inventory is updated after cach sale under the periodic method. B. Under the periodic method, the amount of inventory is not known until the end of...
How would I prepare a journal entry to correct these errors only
using B?
Krafty Kris, Inc., discovered the following errors after the 2017 financial statements were issued: a. A major supplier shipped inventory valued at $8,550 to Krafty Kris on consignment. This merchandise was mistakenly included in the inventory taken by Krafty Kris on December 31, 2016. (Goods shipped on consignment are the property of the consignor and should not have been included in Krafty Kris's inventory.) b. Krafty...
On October 1, 20Y6, Jay Crowley established Affordable Realty, which completed the following transactions during the month: Oct 1 2 3 4 Jay Crowley transferred cash from a personal bank account to an account to be used for the business in exchange for common stock, S40,000 Paid rent on office and equipment for the month, $4,800. Purchased supplies on account, $2,150. Paid creditor on account, $1,100. Earned sales commissions, receiving cash, 518,750. Paid automobile expenses (including rental charge) for month,...
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