Alpha Company buys $ 5 8 0 , 5 0 0 supplies for cash during the year
Fantastic news! We've Found the answer you've been seeking!
Question:
Alpha Company buys $ supplies for cash during the year and half are consumed by end of year. The adjustment for usage was correctly journalized and posted. However, the journal entry for a purchase on account of $ was erroneously posted twice to the ledger.
Required : The error might or might not impact the trial balance and send it out of balance. If there is a difference between debits and credits, how much is it $
Required : The error might or might not impact the Balance Sheet and send it out of balance. If there is a difference between debits and credits, how much is it $
Required : The error might or might not impact the ending balance of Accounts Payable. If there is a difference between the correct and incorrect ending balance, how much is it $
Required : The error might or might not impact the ending balance of Purchases of Supplies. If there is a difference between the correct and incorrect ending balance, how much is it $
Required : The error might or might not impact the ending balance of Supplies Inventory. If there is a difference between the correct and incorrect ending balance, how much is it $
Required : The error might or might not impact the period's Net Income. If there is a difference between the correct and incorrect Net Income, how much is it
Posted Date: