Question

Journalize correcting entries for each of the following errors and include a brief explanation.
a. A cash purchase of office equipment for $ 680 was journalized as a cash purchase of store equipment for $ 680. (Use the ruling method; assume that the entry has not been posted.)
b. An entry for a $ 180 payment for office supplies was journalized as $ 810. (Use the ruling method; assume that the entry has not been posted.)
c. A $ 620 payment for repairs was journalized and posted as a debit to Equipment instead of a debit to Repair Expense. (Use the correcting entry method to journalize the correction.)
d. A $ 750 bill for vehicle insurance was received and immediately paid. It was journalized and posted as $ 660. (Use the correcting entry method to journalize the correction.)



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  • CreatedOctober 21, 2014
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