College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Textbook Question
Chapter 3, Problem 8E
Journalize correcting entries for each of the following errors and include a brief explanation.
- a. A cash purchase of office equipment for $680 was journalized as a cash purchase of store equipment for $680. (Use the ruling method; assume that the entry has not been posted.)
- b. An entry for a $180 payment for office supplies was journalized as $810. (Use the ruling method; assume that the entry has not been posted.)
- c. A $620 payment for repairs was journalized and posted as a debit to Equipment instead of a debit to Repair Expense. (Use the correcting entry method to journalize the correction.)
- d. A $750 bill for vehicle insurance was received and immediately paid. It was journalized and posted as $660. (Use the correcting entry method to journalize the correction.)
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Chapter 3 Solutions
College Accounting (Book Only): A Career Approach
Ch. 3 - A __________ is a book in which business...Ch. 3 - Transferring information from the journal to the...Ch. 3 - For a journal entry to be complete, it must...Ch. 3 - The __________ is used to determine where the...Ch. 3 - Prob. 5QYCh. 3 - A 250 payment for salaries expense was incorrectly...Ch. 3 - Prob. 1DQCh. 3 - How does the journal differ from the ledger?Ch. 3 - What is the purpose of providing a ledger account...Ch. 3 - List by account classification the order of the...
Ch. 3 - Arrange the following steps in the posting process...Ch. 3 - Prob. 6DQCh. 3 - Prob. 7DQCh. 3 - In the following two-column journal, the capital...Ch. 3 - Decor Services completed the following...Ch. 3 - Montoya Tutoring Service completed the following...Ch. 3 - Prob. 4ECh. 3 - Arrange the following steps in the posting process...Ch. 3 - The bookkeeper for Nevado Company has prepared the...Ch. 3 - Determine the effect of the following errors on a...Ch. 3 - Journalize correcting entries for each of the...Ch. 3 - The chart of accounts of the Barnes School is...Ch. 3 - Laras Landscaping Service has the following chart...Ch. 3 - Following is the chart of accounts of Sanchez...Ch. 3 - The chart of accounts of Ethan Academy is shown...Ch. 3 - Leanders Landscaping Service maintains the...Ch. 3 - Following is the chart of accounts of Smith...Ch. 3 - Why Does It Matter? ECOTOUR EXPEDITIONS, INC.,...Ch. 3 - What Would You Say? You are the new bookkeeper for...Ch. 3 - What Do You Think? You work as an accounting...Ch. 3 - What Would You Do?
You are responsible for...Ch. 3 - Prob. 1CP
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- CORRECTING ERRORS Assuming that all entries have been posted, prepare correcting entries for each of the following errors. 1. The following entry was made to record the purchase of 700 in supplies on account: 2. The following entry was made to record the payment of 450 in wages: 3. The following entry was made to record a 300 payment to a supplier on account:arrow_forwardCORRECTING ERRORS Assuming that all entries have been posted, prepare correcting entries for each of the following errors. The following entry was made to record the purchase of 400 in equipment on account: The following entry was made to record the payment of 200 for advertising: The following entry was made to record a 600 payment to a supplier on account:arrow_forwardFINDING AND CORRECTING ERRORS Joe Adams bought 500 worth of office supplies on account. The following entry was recorded on May 17. Find the error(s) and correct it (them) using the ruling method. On May 25, after the transactions had been posted, Adams discovered that the following entry contains an error. The cash received represents a collection on account, rather than new service fees. Correct the error in the general journal using the correcting entry method.arrow_forward
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