Motor vehicle expenses of $1735 had been incorrectly allocated and posted from the purchases journal to the

Question:

Motor vehicle expenses of $1735 had been incorrectly allocated and posted from the purchases journal to the motor vehicle account.

Prepare the general journal to correct this error.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting An Introduction To Principles And Practice

ISBN: 9780170403832

9th Edition

Authors: Edward A. Clarke, Michael Wilson

See More Books

Question Posted: Feb 23, 2024 03:00 PM

See More Questions

During September 2022, R Cudgegong found that there were a number of errors and omissions made in the general ledger and the subsidiary ledgers. You are required to make the necessary journal...
In the accounts of R Hibiscus, four errors were found from journal postings made during the month. These require correction by general journal. Subsidiary ledgers are used. ERROR 1 Somehow a tax...
The Garden Supply Center is a retail store that sells garden equipment, furniture, and supplies. Its credit purchases and purchases returns and allowances for December are shown below. The general...
Secondary xylem and phloem in dicot stem are produced by (a) Phellogen (b) Apical meristems (c) Axillary meristems (d) Vascular cambium
Can you think of a bad decision from your own school or work experience or from the recent business or political news that was made in an effort to correct or justify a past decision? As a new...
Know the criteria for diagramming discriminated contingencies, and be able to recognize when there is and is not an S D .
Consider the National Football League data in Table B.1. Build a linear regression model relating the number of games won to the yards gained rushing by opponents $x_{8}$, the percentage of rushing...
Peerless Windows is a major manufacturer and installer of windows into new homes. Currently, management has found that it has experienced a large number (about 15% of all orders placed) of customer...
Hyrdo Billboard Company entered into an angreement to display billboard advertising for Adele Incorporated for 1 0 months for a $ 6 4 , 0 0 0 fixe fee. The agreement also includes a potential $ 6 , 5...
R Capertee, who uses control accounts, raised a tax invoice for $1342 ($1220 + $122 GST) to B Cider but it has been incorrectly allocated through the sales journal to B Spider. Prepare the general...
In the accounts of T Lasiandra, inventory was purchased on credit from D Shores for $1617 ($1470 + $147 GST). However, there was an error and its entry and processing in the purchases journal was for...
The Salad Oil Storage Company (SOS) has financed a large part of its facilities with long-term debt. There is a significant risk of default, but the company is not on the ropes yet. a. Explain why...
Explain how greenspan was guilty of the law of small numbers What was the Fed's initial response the crisis (before Bear Stearns) What is the problem with VAR models
Neat Nut Inc. does not expect to initiate dividends over the next four years. The company will then pay a dividend of $1.5 per share five years from today and will increase the dividends by 3.5% per...
A loan of $15,000 is compounded monthly at 4.5% and is to be paid off with monthly payments for 3 years. Use the amortization formulato answer the following questions. What is the present value PV?...
For the following, calculate the NPV. Investment amount: (1,000,000). Cash flows: Yr1: 251,000 Yr2: 289,000 Yr3: 582,000 Yr4: 456,000. Cost of capital: 16%.
For the following, calculate the NPV. Investment amount: ($100,000). Cash flows: Yr1: 25,000 Yr2: 38,000 Yr3: 44,000 Yr4: 28,000. Cost of capital: 15%
How does a standard cost accounting system work, and why is it valuable to management?
Quality Chicken grows and processes chickens. Each chicken is disassembled into five main parts. Information pertaining to production in July 2012 is: Joint cost of production in July 2012 was $50. A...
Contex Cables manufactures digital fibre optic cables designed for telecommunications use. The company markets this product to commercial contractors engaged in government projects. Contex Cables has...
Cooler Rooms Ltd manufactures airconditioning units designed for apartment use. The company markets this line in two geographic areas, one with a humid climate and the other with a dry climate....
Perfect Printers Ltd provides high volume offset colour and black and white printing for newspapers. It applies factory overhead to jobs on the basis of machine hours. The budgeted fixed overhead...
An Air compressor has an inlet from atmospheric condition (P1 = latm, T1 = 25C) and delivers compressed air at P2 = 825kPa(gage), T2 = 30C. In a delivery line, a 2mm diameter crack appeared in which...
Strategic acquisitions and the accelerated integration of those acquisitions are a vital capability of Cisco Systems Cisco Systems is in the business of building the infrastructure that makes the...
Model the following business process for managing advances. The advance payment management process begins when a payment request is approved. It involves entering the advance payment request into the...

Motor vehicle expenses of $1735 had been incorrectly allocated and posted from the purchases journal to the

Question:

Step by Step Answer:

Correcting Motor Vehicle Expense Allocation Heres the ...View the full answer

Accounting An Introduction To Principles And Practice

Students also viewed these Business questions