TIMMONY CO.TRIAL BALANCEDECEMBER 31, 201XDr.Cr.D. Timmony, CapitalEquipmentRent ExpenseAdvertising ExpenseAccounts Payable|480016002500500800Taxi Fees1600Cash1500D. Timmony, Withdrawals110049 00Totals9500On June 1, 2010, a telephone expense for $250 was debited to Repair Expense. On June 10,2010, this error was found. Prepare the corrected journal entry. When would a correcting entrynot be needed?

As per the given information Telephone Expenses was wrongly debited to repair expenses. Rectifying…

TRIAL BALANCE DECEMBER 31, 201X Dr. Cr. D. Timmony, Capital Equipment Rent Expense Advertising Expense Accounts Payable 4800 1600 |2|5|00 500 800 1600 1500 Taxi Fees Cash D. Timmony, Withdrawals 1100 Totals |9|5|00 |49|00 On June 1, 2010, a telephone expense for $250 was debited to Repair Expense. On June 10, 2010, this error was found. Prepare the corrected journal entry. When would a correcting entry not be needed?

TRIAL BALANCE DECEMBER 31, 201X Dr. Cr. D. Timmony, Capital Equipment Rent Expense Advertising Expense Accounts Payable 4800 1600 |2|5|00 500 800 1600 1500 Taxi Fees Cash D. Timmony, Withdrawals 1100 Totals |9|5|00 |49|00 On June 1, 2010, a telephone expense for $250 was debited to Repair Expense. On June 10, 2010, this error was found. Prepare the corrected journal entry. When would a correcting entry not be needed?

SWFT Comprehensive Vol 2020

43rd Edition

ISBN:9780357391723

Author:Maloney

Publisher:Maloney

Chapter6: Deductions And Losses: In General

Section: Chapter Questions

Problem 44P

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