The following errors were found in the books of RoscoConsultingduring the month: Consultancy Service provided to Briggs Safetyon account for $1500 had been omitted completely from the books. A purchase of supplies for $1000was entered in the cash account but omitted from the supplies account Motor Vehicle purchased for $129,000 cash was entered in the books as $1290. Drawings of$1000 were recorded as $100. A gas bill for $500was entered in the motor vehicle account Required: Record the journal entries necessary to correct each of the errors. State the type of error made for (i), (ii) & (v)

The following errors were found in the books of RoscoConsultingduring the month: Consultancy Service provided to Briggs Safetyon account for $1500 had been omitted completely from the books. A purchase of supplies for $1000was entered in the cash account but omitted from the supplies account Motor Vehicle purchased for $129,000 cash was entered in the books as $1290. Drawings of$1000 were recorded as $100. A gas bill for $500was entered in the motor vehicle account Required: Record the journal entries necessary to correct each of the errors. State the type of error made for (i), (ii) & (v)

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 23EB: Post the following August transactions to T-accounts for Accounts Payable and Supplies, indicating...

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Post the following August transactions to T-accounts for Accounts Payable and Supplies, indicating the ending balance (assume no beginning balances in these accounts): A. purchased supplies on account, $600 B. paid vendors for supplies delivered earlier in month, $500 C. purchased supplies for cash, $450
The following errors were found in the books of Rosco Consulting during the month: 1. Consultancy Service provided to Briggs Safety on account for $1500 had been omitted completely from the books. 2. A purchase of supplies for $1000 was entered in the cash account but omitted from the supplies account. 3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290. 4. Drawings of $1000 were recorded as $100. 5. A gas bill for $500 was entered in the motor vehicle account. Required: i. Record the journal entries necessary to correct each of the errors. Narrations are not required ii. State the type of error made for (i), (ii) & (v)
The following errors were found in the books of Rosco Consulting during the month:1. Consultancy Service provided to Briggs Safety on account for $1500 had been omitted completely from the books.2. A purchase of supplies for $1000 was entered in the cash account but omitted from the supplies account3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290.4. Drawings of $1000 were recorded as $100.5. A gas bill for $500 was entered in the motor vehicle account Required:i. Record the journal entries necessary to correct each of the errors. ii. State the type of error made for (i), (ii) & (v)
The following errors were found in the books of Rosco Consulting during the month:1. Consultancy Service provided to Briggs Safety on account for $1500 had been omitted completely from the books.2. A purchase of supplies for $1000 was entered in the cash account but omitted from the supplies account3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290.4. Drawings of $1000 were recorded as $100.5. A gas bill for $500 was entered in the motor vehicle account Required:State the type of error made for (i), (ii) & (v)
The following errors were found in the books of Rosco Consulting during the month: Consultancy Service provided to Briggs Safety on account for $1500 had been omitted completely from the books. A purchase of supplies for $1000 was entered in the cash account but omitted from the supplies account Motor Vehicle purchased for $129,000 cash was entered in the books as $1290. Drawings of $1000 were recorded as $100. A gas bill for $500 was entered in the motor vehicle account Required: Record the journal entries necessary to correct each of the errors. Narrations are not required State the type of error made for (1), (2) & (4)
The following errors were found in the books of Rosco Consulting during the month:1. Consultancy Service provided to Briggs Safety on account for $1500 had beenomitted completely from the books.2. A purchase of supplies for $1000 was entered in the cash account but omitted fromthe supplies account3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290.4. Drawings of $1000 were recorded as $100.5. A gas bill for $500 was entered in the motor vehicle accountRequired:i. Record the journal entries necessary to correct each of the errors.
The following errors were reported by Claude Sample Sports Clinic during the month: An invoice for consultancy service provided to Running Track Club for $25,000 was left in a desk drawer unnoticed and had been omitted completely from the books. The records showed that a cash receipt for $15,000 was issued relating to this transaction while the balance was on account. The company records its consultancy fees in service revenue account. Purchase of medical supplies on February 3 was for $18,000and not $1,800 as previously incorrectly reported. On Feb 1 the $55,000 invested by Sample ought to have been allocated $45,000 bank account and $10,000 office equipment based on confirmation from the owner that the previous info provided was incorrectly stated. Drawings of $1,000 were not recorded. An electricity bill for $5,000 paid by cash was placed in a desk drawer and not presented with the first set of transactions. The company records its electricity charges in the utility expense…
The following errors were reported by Claude Sample Sports Clinic during the month: An invoice for consultancy service provided to Running Track Club for $25,000 was left in a desk drawer unnoticed and had been omitted completely from the books. The records showed that a cash receipt for $15,000 was issued relating to this transaction while the balance was on account. The company records its consultancy fees in service revenue account. Purchase of medical supplies on February 3 was for $18,000and not $1,800 as previously incorrectly reported. On Feb 1 the $55,000 invested by Sample ought to have been allocated $45,000 bank account and $10,000 office equipment based on confirmation from the owner that the previous info provided was incorrectly stated. Drawings of $1,000 were not recorded. An electricity bill for $5,000 paid by cash was placed in a desk drawer and not presented with the first set of transactions. The company records its electricity charges in the utility expense…
The following errors were reported by Claude Sample Sports Clinic during the month: An invoice for consultancy service provided to Running Track Club for $25,000 was left in a desk drawer unnoticed and had been omitted completely from the books. The records showed that a cash receipt for $15,000 was issued relating to this transaction while the balance was on account. The company records its consultancy fees in service revenue account. Purchase of medical supplies on February 3 was for $18,000and not $1,800 as previously incorrectly reported. On Feb 1 the $55,000 invested by Sample ought to have been allocated $45,000 bank account and $10,000 office equipment based on confirmation from the owner that the previous info provided was incorrectly stated. Drawings of $1,000 were not recorded. An electricity bill for $5,000 paid by cash was placed in a desk drawer and not presented with the first set of transactions. The company records its electricity charges in the utility expense…
the following errors were reported by Claude Sample Sports Clinic during the month: An invoice for consultancy service provided to Running Track Club for $25,000 was left in a desk drawer unnoticed and had been omitted completely from the books. The records showed that a cash receipt for $15,000 was issued relating to this transaction while the balance was on account. The company records its consultancy fees in service revenue account. Purchase of medical supplies on February 3 was for $18,000and not $1,800 as previously incorrectly reported. On Feb 1 the $55,000 invested by Sample ought to have been allocated $45,000 bank account and $10,000 office equipment based on confirmation from the owner that the previous info provided was incorrectly stated. Drawings of $1,000 were not recorded. An electricity bill for $5,000 paid by cash was placed in a desk drawer and not presented with the first set of transactions. The company records its electricity charges in the utility expense…
The following errors were reported by Claude Sample Sports Clinic during the month: An invoice for consultancy service provided to Running Track Club for $25,000 was left in a desk drawer unnoticed and had been omitted completely from the books. The records showed that a cash receipt for $15,000 was issued relating to this transaction while the balance was on account. The company records its consultancy fees in service revenue account. Purchase of medical supplies on February 3 was for $18,000 and not $1,800 as previously incorrectly reported. On Feb 1st, the $55,000 invested by Sample ought to have been allocated $45,000 bank account and $10,000 office equipment based on confirmation from the owner that the previous info provided was incorrectly stated. Drawings of $1,000 were not recorded. An electricity bill for $5,000 paid by cash was placed in a desk drawer and not presented with the first set of transactions. The company records its electricity charges in the utility expense…
The following errors were reported by Claude Sample Sports Clinic during the month: An invoice for consultancy service provided to Running Track Club for $25,000 was left in a desk drawer unnoticed and had been omitted completely from the books. The records showed that a cash receipt for $15,000 was issued relating to this transaction while the balance was on account. The company records its consultancy fees in service revenue account. Purchase of medical supplies on February 3 was for $18,000 and not $1,800 as previously incorrectly reported. On Feb 1st, the $55,000 invested by Sample ought to have been allocated $45,000 bank account and $10,000 office equipment based on confirmation from the owner that the previous info provided was incorrectly stated. Drawings of $1,000 were not recorded. An electricity bill for $5,000 paid by cash was placed in a desk drawer and not presented with the first set of transactions. The company records its electricity charges in the utility expense…