The following errors were revealed after an investigation: a. The sales journal had been overcast by...
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The following errors were revealed after an investigation: a. The sales journal had been overcast by RM 1,200. b. The purchases journal had been undercast by RM 2,200. c. The discount column total of RM 200 on the credit side of the cash book was not posted to the ledger account. d. Stationery purchased for RM 480 for office use was recorded as office equipment. e. Insurance paid for RM 780 was correctly recorded in the cash book but wrongly entered in Insurance account as RM 708. f. Discount received of RM 180 was treated as discount allowed. Required: A) Give the journal entries, without narratives, necessary to correct the above errors. The following errors were revealed after an investigation: a. The sales journal had been overcast by RM 1,200. b. The purchases journal had been undercast by RM 2,200. c. The discount column total of RM 200 on the credit side of the cash book was not posted to the ledger account. d. Stationery purchased for RM 480 for office use was recorded as office equipment. e. Insurance paid for RM 780 was correctly recorded in the cash book but wrongly entered in Insurance account as RM 708. f. Discount received of RM 180 was treated as discount allowed. Required: A) Give the journal entries, without narratives, necessary to correct the above errors.
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Related Book For
Introduction To Financial Accounting
ISBN: 978-0077138448
7th edition
Authors: Anne Marie Ward, Andrew Thomas
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