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Question - Prepare the correcting journal entries for the following:
1. The bank column of the cash receipts journal was over added by $30, but the individual receipts were correctly entered and posted.
2. Timber worth $880 (including GST) purchased on credit from Shady Timber Mill was incorrectly debited to Purchases.
3. A cheque for $1,210 received for a kitchen bench slab was incorrectly posted from the cash receipts journal as a credit to the Sales account.
4. Sold goods on credit to Lennox Furniture for $3,300 (including GST of $300) and incorrectly posted the item from the Credit Sales Journal by debiting Kingscliff Kitchens.
McCallister & Speass Plowing Company is completing the accounting process for the year ending December 31, 2009. The transactions during 2009 have been journalized and posted.
The Artist's Palette purchases its inventory from a number of suppliers and each supplier offers different purchasing discounts. The manager of The Artist's Palette, Marty Parma, is currently comparing two offers for purchasing modeling clay and ..
How is this information reported on the company's 2017 income statement and statement of comprehensive income
Determine PepsiCo's gross profit rate for 2007 and 2006. Indicate whether it increased or decreased from 2006 to 2007.
Discuss your personal experience with medical insurance coverage. Which payment methodology does your insurance provider use?
An industry consists of many small plants located throughout the United States. An executive wants to survey the opinions of employees on the industry vacation policy. What would you suggest she sample?
1. What is the definition of ‘cash'? 2. What is the definition of ‘cash equivalent'?
Calculate the revised weighted average cost of capital. The Equity shares are quoted at Rs. 105 and the company is expected to declare a dividend of Rs. 12
How much compensation did Apple record for its CEO related to the restricted stock in its fiscal year ended. What was the CEO's combined income tax and employment tax rate that Apple used to determine the shares to be withheld at vesting
a corporate charter specifies that the company may sell up to 25 million shares of stock. the company sells 17 million
a machine can be purchased for 300000 and used for 5 years yielding the following net incomes. in projecting net
Record the two journal entries that should be recorded by Tamarisk Inc. for the sales transactions above that took place on July 1, 2020
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