For each transaction listed, identify the recording error and indicate the journal that should have been used.
Answer to relevant QuestionsPreparing the balance sheet Prepare the balance sheet of Decorating Arrangements as of December 31, 2016. Insurance Expense ....... $ 2,000 Service Revenue ....... 80,000 Utilities Expense ....... 500 Rent ...Indicate the effects of the following business transactions on the accounting equation of Vivians Online Video store. Transaction (a) is answered as a guide. a. Received cash of $10,000 from issuance of common stock. b. ...Assume Smiling Springs Glass Company uses the perpetual inventory system. The general ledger of Smiling Springs Glass Company includes the following selected ac-counts, along with their account numbers: All credit sales are ...Kingston Computer Security uses the perpetual inventory system and makes all credit Trial balance, total debits $49,400 sales on terms of 2/10, n/30. During March, Kingston completed these transactions: Mar. 2 Issued invoice ...Review your results from Short Exercise SC-6. Requirements 1. Total each column of the cash receipts journal. 2. Open the following four-column accounts in the accounts receivable subsidiary ledger: Accounts ...
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