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Problem - During the current month, the following errors occurred in recording transactions in the purchases journal or in posting from it.
a) An invoice for $1,875 of supplies from Kelly Co. was recorded as having been received from Kelley Co., another supplier.
b) A credit of $420 to Blackstone Company was posted as $240 in the subsidiary ledger.
c) An invoice for equipment of $4,800 was recorded as $4,000.
d) The Accounts Payable column of the purchases journal was overstated by $3,600.
How will each error come to the bookkeeper's attention, other than by chance discovery?
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Annual payments of $14,238 will be made on December 31 each year. Show the effect on the accounting equation of the second annual payment
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cardco inc. has an annual accounting period which ends on december 31. during the current year a depreciable asset
hoen manufacturing company experienced the following accounting events during its first year of operation. with the
Determine What is the net cash received over the life of the bond investment? (all money received minus all money paid, round to nearest whole dollar)
On June 30, 2016, Blondie Fixtures was considering alternatives. Prepare any necessary journal entry or entries if receivables are factored under Option One.
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Problem - Sales Mix; Multiproduct Break-Even Analysis - Prepare a contribution format income statement for the month based on the actual sales data
Alpha Company uses the periodic inventory system and had the following inventory & sales activity for the month of May 2016
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