The following errors took place in journalizing and posting transactions: a. Utilities expense of $7,300 paid for

Question:

The following errors took place in journalizing and posting transactions:

a. Utilities expense of $7,300 paid for the current month was recorded as a debit to Miscellaneous Expense and a credit to Utilities Expense.

b. The payment of $6,100 from a customer on account was recorded as a debit to Cash and a credit to Accounts Payable.

Journalize the entries to correct the errors. Omit explanations.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Corporate Financial Accounting

ISBN: 978-1133952411

12th edition

Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac

See More Books

Question Posted: Feb 28, 2014 06:47 AM

See More Questions

The following errors took place in journalizing and posting transactions: a. A withdrawal of $20,000 by Joel Goodson, owner of the business, was recorded as a debit to Wages Expense and a credit to...
The following errors took place in journalizing and posting transactions: a. A $940 purchase of supplies for cash was recorded as a debit to Supplies Expense and a credit to Accounts Payable. b. Cash...
The following errors took place in journalizing and posting transactions: a. Cash of $3,750 received on account was recorded as a debit to Fees Earned and a credit to Cash. b. A $1,500 purchase of...
In Problems 4352, graph each system of linear inequalities. State whether the graph is bounded or unbounded, and label the corner points. 0 x y 0 x + y = 1 x + y 7 2x + y 10
Commercial aqueous nitric acid has a density of 1.42 g/mL and is 16 M. Calculate the percent HNO3 by mass in the solution?
Investigate the current technology available for laptop computers, cell phones, or tablets. Select two different models and compare their features and operational characteristics, as well as...
In a study to develop the growth behavior for protozoa colonization in a particular lake, an experiment was conducted in which 15 sponges were placed in a lake and 3 sponges at a time were gathered....
A 10-year project has an initial fixed asset investment of $38,640, an initial NWC investment of $3,680, and an annual OCF of -$58,880. The fixed asset is fully depreciated over the life of the...
As we delve into the realms of quantum computing and computational neuroscience, what profound implications do you foresee for the future of cognitive augmentation and human-machine symbiosis, and...
Allie has bought a new apple orchard. The orchard has a single file of trees, numbered from 1 to N. Each tree has a certail number of ripe apples. Allie has a rule she wants to follow. She wants to...
For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. If the error would cause the trial balance totals to be...
The following errors took place in journalizing and posting transactions: a. The receipt of $8,400 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned. b....
Evaluate the expression. C(6, 0)
In most of these, the method should accept the required pieces of data as arguments and return the result. Input and output should probably not occur in your solutions; input and output would likely...
Write, Run & Share C Language code online using OneCompiler's C online compiler for free. It's one of the robust, feature-rich online compilers for C language, running the latest C version which is...
For the circuit shown in Fig representing a feeder connecting a substation and a load, the substation's voltage is fixed at 1 pu 0 degree (V = 1/0). The feeder's impedance is 0.2 + j0.2 pu. Ask: 1)...
The elementary, irreversible, gas-phase reaction ABC is carried out adiabatically in a PFR packed with a catalyst. Pure A enters the reactor at a flowrate of 20dm3/s, at a pressure of10 atmand a...
Consider the metabolic network shown below. Assume that all reactions follow mass action kinetics. Also assume the influx rate V71 is 20 mM/min, the efflux rate V3.0 is 30 mM/min, and all other...
Consider a typical term in g(x,t) where can be either 2n(u ) or 2 + 2n(u ). Show that the above term can be rewritten as Hence, show that Use the above result to derive the price formula of the...
Prove the formula for (d/dx)(cos-1x) by the same method as for (d/dx)(sin-1x).
For the public capital data, derive a similar table to test the hypotheses given in Table 4.1. Table 4.1 Test results for the grunfeld example Ho Ho 798.162 (3.841) 6.454 (3.841) 28.252 (1.645)...
Summary operating data for Custom Wire & Tubing Company during the year ended April 30, 2016, are as follows: cost of merchandise sold, $6,100,000; administrative expenses, $740,000; interest...
Paragon Tire Co.'s perpetual inventory records indicate that $2,780,000 of merchandise should be on hand on March 31, 2016. The physical inventory indicates that $2,734,800 of merchandise is actually...
Paragon Tire Co.'s perpetual inventory records indicate that $2,780,000 of merchandise should be on hand on March 31, 2016. The physical inventory indicates that $2,734,800 of merchandise is actually...
The Big Beaver Company is trying to choose between the following two mutually exclusive projects: Cash Flow (A) Cash Flow (B) Year 0 -$15,000 -$2,000 1 8,500 2,500 2 8,500 2,500 3 8,500 2,500 A. If...
The following is a list of items that could be included in the intangible assets section of the balance sheet. (a) Indicate which items on the list below would generally be reported as intangible...
How does organizational culture intersect with broader societal norms, values, and trends, and what challenges and opportunities does this present for fostering inclusivity, diversity, and ethical...

The following errors took place in journalizing and posting transactions: a. Utilities expense of $7,300 paid for

Question:

Step by Step Answer:

a Utilities Expense 7300 Miscellaneous Expense 7300 Utilities Expense 7300 Cash 7300 The first ent...View the full answer

Corporate Financial Accounting

Students also viewed these Accounting questions