Reference no: EM132782392

Problem 1: Which of the following is an example of an error of original entry?

a. A P20,000 check paid for purchase of supplies was debited to the supplies account at P200 and credited from cash in bank account at P2,000.
b. A payment of P10,000 made to supplier Francis & Co. was debited to Benedict & Co.
c. Payment for rent was debited to the cash in bank account and credited from the rent expense account?
d. A check received from customer Luther Corp. was not recorded in the books.

Problem 2: Utilities payment of P7,800 was recorded in both the utilities expense account and cash on hand account as P8,700. What is the journal entry the correct the error?

             Debit                                  Credit

a. Cash on Hand P8,700         Utilities Expense P8,700

b. Utilities Expense P8,700        Cash on Hand P8,700

c. Cash on Hand P900            Utilities Expense P900

d. Utilities Expense P900           Cash on Hand P900