sskgnment 1 4 Wilm Schmidt, the owner of Wilm's Window Washing Services, had difficulty getting the...
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sskgnment 1 4 Wilm Schmidt, the owner of Wilm's Window Washing Services, had difficulty getting the debits to equal credits on the January 31, 2020, trial balance Nilm's Mindow Mashing Services Trial Balance January 31, 2020 Debit $ 11,900 9,540 2,700 27,000 Credit Cash Accounts receivable Prepaid Insurance Equipment Accounts payable Mile Scheidt, capital Mila Schnidt, withdrawals Service revenues Salaries expense Insurance expense Meintenance expense Utilities expense $ 7,200 48,000 9,260 60,700 32, 300 5,500 13, 300 5,500 Total $117,000 $11s,909 The following errors were discovered a. Schmidt did not post a $4,300 purchase of equipment on credit. b. In posting a $1,550 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2.690 but incorrectly credited Accounts Receivable for $9,290. d. In posting a $7700 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash e. In posting the entry for services of $3,900 performed for a customer on credit, Schmicdt debited Accounts Receivable but credited Maintenance Expense. Pre ... sskgnment 1 4 Wilm Schmidt, the owner of Wilm's Window Washing Services, had difficulty getting the debits to equal credits on the January 31, 2020, trial balance Nilm's Mindow Mashing Services Trial Balance January 31, 2020 Debit $ 11,900 9,540 2,700 27,000 Credit Cash Accounts receivable Prepaid Insurance Equipment Accounts payable Mile Scheidt, capital Mila Schnidt, withdrawals Service revenues Salaries expense Insurance expense Meintenance expense Utilities expense $ 7,200 48,000 9,260 60,700 32, 300 5,500 13, 300 5,500 Total $117,000 $11s,909 The following errors were discovered a. Schmidt did not post a $4,300 purchase of equipment on credit. b. In posting a $1,550 collection from a credit customer, Schmidt debited Accounts Receivable and credited Cash. c. In posting a cash receipt, Schmidt correctly debited Cash for $2.690 but incorrectly credited Accounts Receivable for $9,290. d. In posting a $7700 payment on account, Schmidt debited Accounts Payable but forgot to post the credit to Cash e. In posting the entry for services of $3,900 performed for a customer on credit, Schmicdt debited Accounts Receivable but credited Maintenance Expense. Pre ...
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Related Book For
Horngrens Accounting
ISBN: 978-0133855371
10th Canadian edition Volume 1
Authors: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo-Ann L. Johnston, Peter R. Norwood
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