12. The following general journal contains a number of errors. GENERAL IOURNAL. PAGE 27 DATE PARTICULARS P.R. DEBIE CREDIT 20-- Oct. 1 Cash 1000 00 W. Wakelin, Capital 1000 00 Owner investment in business. 2 Cash 525 00 Sales 5 25 00 Sold merchandise on account and mailed invoice. Accounts Payable Office Supplies Purchased supplies on account. 3 1 10 00 1 10 00 3 Telephone Expense 53 00 Cash 53 00 Paid phone bill. 4 W. Wakelin, Drawings 250 00 Cash 250 00 5 Accounts Receivable 89 00 Cash 98 00 Received $89 on account. 6 Advertising Expense 75 00 Cash 75 00 Paid for advertising. (a) List the errors. (b) What effect, if any, would each error have on the trial balance totals and account balances? (c) When would the error made on October 2 be discovered? (d) When would the error made on October 5 be discovered?

12. The following general journal contains a number of errors. GENERAL IOURNAL. PAGE 27 DATE PARTICULARS P.R. DEBIE CREDIT 20-- Oct. 1 Cash 1000 00 W. Wakelin, Capital 1000 00 Owner investment in business. 2 Cash 525 00 Sales 5 25 00 Sold merchandise on account and mailed invoice. Accounts Payable Office Supplies Purchased supplies on account. 3 1 10 00 1 10 00 3 Telephone Expense 53 00 Cash 53 00 Paid phone bill. 4 W. Wakelin, Drawings 250 00 Cash 250 00 5 Accounts Receivable 89 00 Cash 98 00 Received $89 on account. 6 Advertising Expense 75 00 Cash 75 00 Paid for advertising. (a) List the errors. (b) What effect, if any, would each error have on the trial balance totals and account balances? (c) When would the error made on October 2 be discovered? (d) When would the error made on October 5 be discovered?

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter3: Journalizing Transactions

Section: Chapter Questions

Problem 4.1AP

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