On February 5, 2019, Mike Sullivan made the following journal entry to record the purchase of equipment

Question:

On February 5, 2019, Mike Sullivan made the following journal entry to record the purchase of equipment priced at $1,600 on account. This transaction had not yet been posted when the error was discovered. Make the appropriate correction.

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

Step by Step Answer:

Related Book For answer-question

College Accounting A Practical Approach

ISBN: 978-0134166698

13th Canadian edition

Authors: Jeffrey Slater, Debra Good

See More Books

Question Posted: Dec 17, 2019 07:48 AM

See More Questions

Suppose a company made the following journal entry to pay for supplies purchased: Is this an error? If so, correct the error using both methods shown in this chapter. Provide an explanation for each...
Suppose a company made the following journal entry to close its revenue accounts: Make the single journal entry to correct this error, then show the alternative way to correct it. Provide an...
Prepare the journal entry to record the purchase of the condo, assuming the company uses the deferral method to record the government grant. Please make sure your final answer(s) are accurate to 2...
In Exercises 1114, graph each equation in a rectangular coordinate system. If two functions are indicated, graph both in the same system. Then use your graphs to identify each relations domain and...
How many non isomorphic connected simple graphs are there with n vertices when n is a) 2? b) 3? c) 4? d) 5?
Sketch the graph of a function whose derivative ' has the given description. f'(x) > 0 for x > 3 and f'(x) < 0 for x < 3
Based on the following pedigree for a trait determined by a single gene (affected individuals are shown as filled symbols), state whether it would be possible for the trait to be inherited in each of...
Preparing pro forma income statements with different assumptions Norman Jelen, the controller of Wing Corporation, is trying to prepare a sales budget for the coming year. The income statements for...
Syarikat Penapisan Petroleum Berhad produces three joint products; Gasoline, Kerosene dan Diesel; and byproduct, i.e. Tar in the same refinery process. The split-off point incurred after the...
ABC issued new bonds on Jan 1, 1991. The bonds sold at par of $1,000 have a coupon of 12% and mature in 30 years. Interest is paid semi-annually on June 30 and Dec 31. What was the YTM on Jan 1,...
What is the relationship of the chart of accounts to the general journal?
On February 5, 2019, Mike Sullivan made the following journal entry to record the purchase of office equipment priced at $1,400 on account. This transaction had not yet been posted when the error was...
Solve for y in terms of x. log 2 x + log 2 y = 1
2. What are the three types of law that are relevant to auditors legal liability? Explain the causes of legal action under each type.
Selected comparative financial statements of Korbin Company follow: KORBIN COMPANY Comparative Income Statements For Years Ended December 31, 2017, 2016, and 2015 2017 2016 2015 Sales $ 392,189 $...
"This relation is not in because it has functional dependencies" is a frequently seen incorrect comment in a response to a normalization task. Explain why this is not a valid statement regarding a...
On 1 July 2016, Ma Ltd acquired all the issued shares of Pa Ltd for $326,000. The shares are acquired ex-dividend. At this date, the equity of Pa Ltd was recorded as follows: Share capital $340,000...
Create a subroutine which shows progress bar on Olimex LCD display: First line: centered percentage as a number Second line: progress bar from left to right Modify LCD_I2C_register_basics.c so that...
The controller of New Wave Sounds Inc. prepared the following product profitability report for management, using activity-based costing methods for allocating both the factory overhead and the...
Citing a scientific article, explain in your own words, how DNA fingerprinting has been used in forensic science to solve crimes and why it may not always be accurate or effective.
Refer to Exercise 7B-3. If D. Toll earned $3,000 for the week instead of $320, what effect would this change have on the total payroll tax expense? In Exercise7B-3. Employee 0. Barns 0. Hienze D....
The total wage expense for Orange Co. was $150,000. Of this total, $26,000 was above the OASDI wage base limit and not subject to this tax. All earnings are subject to Medicare tax, and $62,000 was...
At the end of the first quarter of 201X, you are asked to determine the FUTA tax liability for Ali Company. The FUTA tax rate is 0.8% on the first $7,000 each employee earns during the year (assuming...
You work for the CDC and have been called in to consult about the appearance in Connecticut of a single zombie. It is known from studies of past zombie epidemics, that for this strain of the zombie...
5. Given a random variable X with E(X) = 1, Var(X)=4. Find the following: (a) E(X2) (b) E( 2X | 1) (e) Var( 2X 1).
We are given an array A[1...n] of n 2 positive and negative integers. The goal is to find a contiguous interval of the array to exclude so as to maximize the sum of the remaining numbers....

On February 5, 2019, Mike Sullivan made the following journal entry to record the purchase of equipment

Question:

GENERAL JOURNAL Account Titles and Description Dr. Cr. Date PR 2019 Feb. 5 Office Equipment Accounts Payable Purchase of office equipment on account 80000 80000

Step by Step Answer:

Put line thr...View the full answer

College Accounting A Practical Approach

Students also viewed these Business questions