User Account

All Pages

Which of the journal entries is needed to adjust for error

Assignment Help Financial Accounting
Reference no: EM132958009

Problem 1: The bookkeeper of Wilson Electric? Supply, Inc. recorded a $1,517 check as $15,170 in payment of the current? month's rent. Which of the following journal entries is needed to adjust for this error in the books of the? company?

a. Cash 13,653
Sales Revenue 13,653

b. Cash 13,653
Rent Expense 13,653

c. Booking Error 1,517
Cash 1,517

d. Rent Expense 15,170
Cash 15,170

Reference no: EM132958009

Questions Cloud

Draw a network design that you think : Draw a network design that you think will be useful in the future for the industry that you have visited. Network should include the following requirements
Find which would be included in journal entry to replenish : Find which would be included in the journal entry to replenish the Petty Cash? fund? A petty cash fund was established with a $150 balance.
Determine the amount that will be reported on pharoah : Determine the amount that will be reported on Pharoah's December 31, 2020 and 2021, balance sheets. Pharoah Company has a December 31 fiscal year end.
Which journal entries is needed to adjust for the nsf? check : A? customer's check for $1,260 was returned for nonsufficient funds. Which of the following journal entries is needed to adjust for the NSF? check?
Which of the journal entries is needed to adjust for error : The bookkeeper of Wilson Electric? Supply, Inc. recorded, Which of the journal entries is needed to adjust for this error in the books of the? company?
What should be the estimated warranty liability : After preparing the adjusting entries at the end of its fiscal year end on December 31, 2021, what should be the "Estimated Warranty Liability" account balance
Find what Cash would be credited for : For supplies expense, and $12 for miscellaneous expenses. Assume the cash balance is not over or short. In the journal entry, Cash would be credited for?
Should next lease or buy the equipment : In either case, the equipment is worth nothing after 3 years and will be discarded. Should Next lease or buy the equipment
What will be the new portfolio beta : You have a portfolio with a beta of 3.1. What will be the new portfolio beta if you keep 85 percent of your money in the old portfolio

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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