College Accounting (Book Only): A Career Approach
12th Edition
ISBN: 9781305084087
Author: Cathy J. Scott
Publisher: Cengage Learning
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Textbook Question
Chapter 2, Problem 9QY
Flores’s Catering purchased equipment that cost $2,500, but it was recorded as $520. Which of the following is correct?
a. This is a transposition error.
b. This is a slide error.
c. This is neither a transposition error nor a slide error.
d. Both a and b are correct.
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On February 13, Scanlon Co. paid $1,790 to repair the transmission on one of its delivery vans. In addition, Scanlon paid $47 to install a GPS system in its van. A. Journalize the entries for the transmission. If an amount box does not require an entry, leave it blank. B. Journalize the entry for GPS system expenditures. If an amount box does not require an entry, leave it blank.
Damon Davis was working on a spreadsheet for the Drano Plumbing Company.
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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)
Chapter 2 Solutions
College Accounting (Book Only): A Career Approach
Ch. 2 - Determine the balance of the following T account:
...Ch. 2 - Which of the following statements is correct? a....Ch. 2 - Prob. 3QYCh. 2 - R. Nelson invests his personal computer, with a...Ch. 2 - When preparing a trial balance, which of the...Ch. 2 - What would be the net income for Floress Catering?...Ch. 2 - On which financial statement(s) would R. Flores,...Ch. 2 - What is the amount of ending capital shown on the...Ch. 2 - Floress Catering purchased equipment that cost...Ch. 2 - Prob. 1DQ
Ch. 2 - Explain why the term debit doesnt always mean...Ch. 2 - Prob. 3DQCh. 2 - How are the three financial statements shown in...Ch. 2 - Prob. 5DQCh. 2 - List two reasons why the debits and credits in the...Ch. 2 - Prob. 7DQCh. 2 - What do we mean when we say that capital, drawing,...Ch. 2 - Prob. 1ECh. 2 - List the classification of each of the following...Ch. 2 - R. Dalberg operates Dalbergs Tours. The company...Ch. 2 - During the first month of operation, Graham...Ch. 2 - Speedy Sewing Services, owned by T. Nguyen, hired...Ch. 2 - During the first month of operations, Landish...Ch. 2 - The following errors were made in journalizing...Ch. 2 - Would the following errors cause the trial balance...Ch. 2 - During December of this year, G. Elden established...Ch. 2 - B. Kelso established Computer Wizards during...Ch. 2 - S. Myers, a speech therapist, opened a clinic in...Ch. 2 - On May 1, B. Bangle opened Self-Wash Laundry. His...Ch. 2 - The financial statements for Daniels Custom...Ch. 2 - During February of this year, H. Rose established...Ch. 2 - J. Carrie established Carries Photo Tours during...Ch. 2 - D. Johnston, a physical therapist, opened...Ch. 2 - On July 1, K. Resser opened Ressers Business...Ch. 2 - The financial statements for Baker Custom Catering...Ch. 2 - Prob. 1ACh. 2 - What Would You Say? A fellow accounting student...Ch. 2 - Prob. 3A
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