Having checked the monthly accounts of Honey Suckle for account allocations, three errors were found that needed
Question:
Having checked the monthly accounts of Honey Suckle for account allocations, three errors were found that needed correction through the general journal. Subsidiary ledgers and control accounts are used.
a The tax invoice for the sale of goods to P Onion on credit for $3960 ($3600 + $360 GST) was incorrectly allocated to P Union.
b Wages accrued $6355 from the previous month had not been reversed.
c The standing journal allocating insurance for the month $3815 had been incorrectly posted to interest.
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Lets prepare the general journal entries to correct the errors found in the monthl...View the full answer
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Related Book For 
Accounting An Introduction To Principles And Practice
ISBN: 9780170403832
9th Edition
Authors: Edward A. Clarke, Michael Wilson
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