Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the
Fantastic news! We've Found the answer you've been seeking!
Question:
Answer the following questions on a separate Microsoft Word or Excel document. Explain how you reached the answer or show your work if a mathematical calculation is needed, or both. Submit your assignment using the assignment link in Blackboard.
Exercises
Kay Magill Company had the following adjusted trial balance.
Instructions
- Prepare closing entries at June 30, 2015.
- Prepare a post-closing trial balance.
. Keenan Company has an inexperienced accountant. During the first 2 weeks on the job, the accountant made the following errors in journalizing transactions. All entries were posted as made.
- A payment on account of $840 to a creditor was debited to Accounts Payable $480 and credited to Cash $480.
- The purchase of supplies on account for $560 was debited to Equipment $56 and credited to Accounts Payable $56.
- A $500 cash dividend was debited to Salaries and Wages Expense $500 and credited to Cash $500.
Instructions
Prepare the correcting entries.
Related Book For
Posted Date: