Journalize the entries to correct the errors

Assignment Help Managerial Accounting
Reference no: EM13528479

Journalize the entries to correct the errors. Omit explanations.

The following errors took place in journalizing and posting transactions:

a. The purchase of supplies of $2,690 on account was recorded as a debit to Office Equipment and a credit to Supplies.

b. The receipt of $3,750 for services rendered was recorded as a debit to Accounts Receivable and a credit to Fees Earned.

Journalize the entries to correct the errors. Omit explanations.

Reference no: EM13528479

Questions Cloud

What is the biological species concept : How are species defined? What is the biological species concept? Are there any problems with defining species this way?
Explain transform of an exponentially decreasing cosine wave : What is this sum called. Explain the physics of this result. Show that the transform of an exponentially decreasing cosine wave is the convolution of a shifted delta function and a Lorentzian, that is, a Lorentzian at the frequency of the cosine w..
Effect of each transaction on the individual accounts : Show the effect of each transaction on the individual accounts of the expanded accounting equation: Assets = Liabilities + Owner's Equity
Find the total flux of the electric field through the sides : A cylindrcal waste basket with a .300 m radius and .150 m height is properly standing on the floor. Find the total flux of the electric field through the sides and bottom
Journalize the entries to correct the errors : Journalize the entries to correct the errors -  The purchase of supplies of $2,690 on account was recorded as a debit to Office Equipment and a credit to Supplies.
Determine the force of the hand that acts on the block : Consider a 7.0-kg red block pressed against a wall as shown in the animation (position is in meters and time is in seconds), determine the force of the hand that acts on the block
Explain the stepwise dissociation constants : Calculate the pH of a 0.20 M H2SO3 solution that has the stepwise dissociation constants Ka1 = 1.5 × 10-2 and Ka2 = 6.3 × 10-8.
Determine how big was the force : You are playing golf with a friend on a scenic course in the Rocky Mountains near Denver. When your friend misses an easy putt, How big was the force
The evolution of galapagos finches : The evolution of Galapagos finches: a. How are Darwin’s Galapagos finches good examples of natural selection and adaptive radiation? b. How can changes in beak morphology in Galapagos finches potentially lead to new species?

Reviews

Write a Review

Managerial Accounting Questions & Answers

  Calculate fixed cost-variable cost

Calculate the unknowns for the following independent situations. All given activity levels are within the relevant range.

  Units of production data for the two departments of

units of production data for the two departments of atlantic cable and wire company for august of the current fiscal

  Prepare the direct labour budget

Prepare the budgets Sale, direct Materials Purchase Budget and direct Labour Budget

  Martinez companys relevant range of production is 7500

martinez companys relevant range of production is 7500 units to 12500 units. when it produces and sells 10000 units its

  Difference between an operating budget and a cash budget

What is the difference between an operating budget and a cash budget, explain what zero-based budgeting is and how it can improve the efficiency of the organization?

  Determine the total cost allocation

Determine the total cost allocation and departmental overhead rate for the producing departments using the direct method. Show your work.

  Calculate the breakeven point in sales dollars

What if sales volume increases by 5% how much will income increase in percentage terms? Make sure you have read over the DOL discussion and  understand the multiplier impact of changes in sales volume that occurs based on DOL.

  Harvold company - prepare a quality cost report

Prepare a Quality Cost Report in good form with separate sections for prevention costs, appraisal costs, internal failure costs, and external failure costs.

  Determine the assignment of costs to costs of goods

Determine the equivalent units of production and the unit costs for the Assembly Department and determine the assignment of costs to costs of goods transferred out and in process.

  Compute the break-even point and total monthly fixed costs

Compute the break-even point in units and dollars and determine the variable cost per haircut and the total monthly fixed costs.

  Cost behaviour-scatter diagram

Phenix Corporation reports following information regarding its sales and cost of sales. Draw the estimated line of cost behavior by using the scatter diagram, and evaluate fixed costs and variable costs per unit sold.

  Find raw materials consist solely of items

Work in process inventory on May 30 contains $2,750 of direct labor cost. Raw materials consist solely of items that are classified as direct materials.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd