FlewcuT e 2 Quiz Saved Identify the item below that would cause the trial balance to not balance? 23 Multiple Choice kipped A $1,420 collection of an account receivable was erroneously posted as a debit to Accounts Receivable and a credit to Cash. The purchase of office supplies on account for $3,150 was erroneously recorded in the journal as $1,350 debit to Office Supplies and $1,350 credit to Accounts Payable A $260 cash receipt for the performance of a service was not recorded at all. The purchase of office equipment for $2,250 was posted as a debit to Office Supplies and a credit to Cash for $2,250 The cash payment of a $1,170 account payable was posted as a debit to Accounts Payable and a debit to Cash for $1.170.

FlewcuT e 2 Quiz Saved Identify the item below that would cause the trial balance to not balance? 23 Multiple Choice kipped A $1,420 collection of an account receivable was erroneously posted as a debit to Accounts Receivable and a credit to Cash. The purchase of office supplies on account for $3,150 was erroneously recorded in the journal as $1,350 debit to Office Supplies and $1,350 credit to Accounts Payable A $260 cash receipt for the performance of a service was not recorded at all. The purchase of office equipment for $2,250 was posted as a debit to Office Supplies and a credit to Cash for $2,250 The cash payment of a $1,170 account payable was posted as a debit to Accounts Payable and a debit to Cash for $1.170.

Financial Accounting

15th Edition

ISBN:9781337272124

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter5: Accounting Systems

Section: Chapter Questions

Problem 7E: The revenue journal for Sapling Consulting Inc. follows. The accounts receivable controlling account...

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Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,037 and No. 5893 for $502. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,000 9,915 11,479 19,564 CHECKS AND DEBITS DEPOSITS AND CREDITS Date No. Amount Date Amount 09/03 09/04 09/07 09/17 09/20 09/22 09/22 09/28 09/29 09/05 09/12 09/21 09/25 09/30 09/30 5888 1,163 2,228 4,012 2,368 18 IN 1,037 781 5902 5901 1,900 670 NSF 936 378 2,097 264 1,852 5905 5903 5904 1,690 CM 5907 5909 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Date Debit Sept. 5 12 1,163 2,228 4,012 2,368 1,660 21 30 11,431 Cash Payments Cash Check No. Credit 5901 1,900 781 5902 5903 5904 378 2,054 936 1,034 264 5905 5906 5907 5908 5909 391…
A ezto.mheducation.com sijon 17A - Connect Data_Sales.xlsx: fa21cob204 Computer Information Systems Dashb on 1-7-6A - Connect Saved Help The accounts receivable balance for Renue Spa at December 31, Year 1, was $86,000. Also on that date, the balance in the Allowance for Doubtful Accounts was $2,500. During Year 2, $1.900 of accounts receivable were written off as uncollectible. In addition, Renue unexpectedly collected $130 of receivables that had been written off in a previous accounting period. Services provided on account during Year 2 were $211,000, and cash collections from receivables were $212,936. Uncollectible accounts expense was estimated to be 1 percent of the sales on account for the period. Required a. Record the transactions in general journal form and post to T-accounts. b. Based on the preceding information, compute (after year-end adjustment): (1) Balance of allowance for doubtful accounts at December 31, Year 2. (2) Balance of accounts receivable at December 31,…
Identify which error will cause the trial balance to be out of balance. Multiple Choice 6:38 A $440 cash salary payment posted as a $440 debit to Cash and a $440 credit to Salaries Expense. A $340 cash receipt from a customer in payment of her account posted as a $340 debit to Cash and a $34 credit to Accounts Receivable. A $195 cash receipt from a customer in payment of her account posted as a $195 debit to Cash and a $195 credit to Cash. A $122 cash purchase of office supplies posted as a $122 debit to Office Equipment and a $122 credit to Cash. An $2,000 prepayment from a customer for services to be rendered in the future was posted as an $2.000 debit to Unearned Revenue and an $2,000 credit to Cash. 10 of 30 MacBook Air 出
Trial Balance Accounts DEBIT CREDIT Bank Accounts Receivable Supplies Equipment Accounts Payable Capital Drawings Revenue Expense 5 728 118 - 100 - 3 000 100 - 9 000 72 – 168 205 9 223 9 268 Explanation of error and how you found it
Finding and Correcting Errors On May 25, after the transactions had been posted, Joe Adams discovered that the following entry contains an error. The cash received represents a collection on account, rather than new service fees. 20-> May 23 DATE I May 25 2 3 Cash Correct the error in the general Journal using a correcting entry. Page: 1 Print harm Service Fees Received cash for services previously earned ACCOUNT TITLE To correct entry of May 23 DOC. POST. NO. REF. Check My Work 5 mare Check My Work uses remaining. 101 401 DEBIT CREDIT 1 2 3 1,400.00 1,400.00 All work saved. Email
PROBLEM NO. 3 Direction: Put a check mark (/) on the column which reflects the Net Effect of accounting errors. Temporary Accounts Real Accounts No Effect Accounting Errors Overstate Understate Overstate Understate 1. Personal withdrawals from business was not recorded. 2. Purchase of a computer for cash was not recognized 3. Issuance of a note for P12,000 as payment of accounts payable was erroneously taken up as P21,000. 4. Accrued expenses are not recorded 5. Cash sales was recorded as credit Sales. 6. Accrued revenue was not recorded 7. Depreciation expense was short by 1,000. 8. Actual expense of 25,000 was erroneously recorded as P52,000 9. A 5% allowance for uncollectible accounts was neglected. 10. Interest on Notes Payable of 32,000 was recorded as 23,000.
0.67/2 E Knowledge Check Bramble Company, who uses the direct write-off method, writes off as uncollectible Indigo Company's $320 balance on December 12. Record the entry. (List debit entry before credit entry. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit eTextbook and Media Save for Later Attempts: unlimited Submit Answer Valuation and Disposition of Accounts Receivable: Valuing Accounts Receivable (Allowance Method for Uncollectible Accounts) Lecture Video (6 minl Q Search myhp M20
Chavez Company most recently reconciled its bank statement and book balances of cash on August 31 and it reported two checks outstanding, No. 5888 for $1,037 and No. 5893 for $502. Check No. 5893 was still outstanding as of September 30. The following information is available for its September 30 reconciliation. From the September 30 Bank Statement PREVIOUS BALANCE TOTAL CHECKS AND DEBITS TOTAL DEPOSITS AND CREDITS CURRENT BALANCE 18,000 9,915 11,479 19,564 CHECKS AND DEBITS DEPOSITS AND CREDITS Date No. Amount Date Amount 09/03 09/04 09/07 09/17 09/20 09/22 09/22 09/28 09/29 1,037 781 09/05 09/12 09/21 09/25 09/30 09/30 1,163 2,228 4,012 2,368 18 IN 5888 5902 1,900 670 NSF 936 378 2,097 264 1,852 5901 5905 5903 5904 1,690 CM 5907 5909 From Chavez Company's Accounting Records Cash Receipts Deposited Cash Debit Date Sept. 5 12 1,163 2,228 4,012 2,368 1,660 21 25 30 11,431 Cash Payments Cash Check No. 5901 Credit 1,900 781 5902 5903 5904 378 2,054 936 1,034 264 391 1,852 5905 5906 5907…
A ezto.mheducation.com estion-1-73A - Connect Data Sales.xlsx: fa21cob204 Computer Information Systems Saved Не Check my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indicate com The following account balances come from the records of Ourso Company. Accounts receivable Allowance for doubtful accounts Beginning Balance $ 2,914 104 Ending Balance $ 3,805 208 During the accounting period, Ourso recorded $12,500 of sales revenue on account. The company also wrote off a $177 account receivable, Required a. Determine the amount of cash collected from receivables. b. Determine the amount of uncollectible accounts expense recognized during the period. * Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required A Required B Determine the amount of uncollectible accounts expense recognized during the period. Uncollectible accounts expense 104 X MacBook Pro @ 2# % & 3 4 6 8…
Saved Identify which error will cause the trial balance to be out of balance. Multiple Choice -36 A $370 cash salary payment posted as a $370 debit to Cash and a $370 credit to Salaries Expense. A $270 cash receipt from a customer in payment of her account posted as a $270 debit to Cash and a $27 credit to Accounts Receivable. A $160 cash receipt from a customer in payment of her account posted as a $160 debit to Cash and a $160 credit to Cash. A $101 cash purchase of office supplies posted as a $101 debit to Office Equipment and a $101 credit to Cash. An $1,650 prepayment from a customer for services to be rendered in the future was posted as an $1,650 debit to Unearned Revenue and an $1,650 credit to Cash. ...
1:35 A sct.edu.om Question 11 Not yet answered Marked out of 1 P Flag question From the following information which is "NOT TRUE" about the Cash Payment Journal under perpetual system. O a. It records sales discount O b. It contains four columns. O c. It records all payments in cash. O d. It records the accounts payable details. Question 12 Not yet answered Marked out of 1 P Flag question
32-After preparing the trial balance, the accountant finds that the total of debit side is OMR 125,600 and Total of Credit Side OMR 126,500. This difference should be treated before rectification of errors was a. Debit Suspense account OMR 125,600 and Credit Trial Balance OMR 126,500 b. Suspense account should be cancelled with OMR 1800 c. Debit Suspense account with OMR 900 d. Credit Suspense account with OMR 900