If an incorrect amount is journalized and posted to the accounts, how should the error be corrected?
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
The error should be correcte...View the full answer
Answered By
Sumit kumar
Education details:
QUATERNARY Pursuing M.Tech.(2017-2019) in Electronics and Communication Engg. (VLSI DESIGN) from
GNIOT Greater Noida
TERTIARY B.Tech. (2012-2016) in Electronics and Communication Engg. from GLBITM Greater Noida
SECONDARY Senior Secondary School Examination (Class XII) in 2012 from R.S.S.Inter College, Noida
ELEMENTARY Secondary School Examination (Class X) in 2010 from New R.J.C. Public School ,Noida
CERTIFICATION
Summer Training in ‘WIRELESS EMBEDDED SYSTEM’ from ‘XIONEE’ for the six weeks.
EMBEDDED SYSTEM Certificate issued by CETPA INFOTECH for one day workshop.
Certificate of Faculty development program on OPTICAL COMMUNICATION and NETWORKS for one week.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Accounting questions
-
Adjusting entries are journalized and posted to the ledger B A worksheet is prepared C An unadjusted trial balance is prepared D Transactions are analyzed and recorded in the journal E Closing...
-
Tolerance next to dimensions are: 1. Specific 2. Reference 3. Exact 4. General
-
Should adjusting entries be posted to the ledger accounts before or after the closing entries? Explain your answer.
-
Data obtained from asking the wrong questions at the wrong time or in the wrong place can lead to misleading summary statistics. Explain why the following collection procedures are likely to produce...
-
Miss M's Dance Studios Ltd. is a public company, and accordingly uses IFRS for financial reporting. The corporate charter authorizes the issue of up to 1 million common shares and 50,000 preferred...
-
1. In investigating the purchase of the facility, what environmental laws will RCPC need to be aware of? In what way could environmental regulation affect the costs of the transaction? 2. Assume that...
-
Guatemalan Imports is the only company with reliable sources for its imported gifts. The company does a brisk business with specialty stores such as Pier 1 Imports. Guatemalan Imports' recent success...
-
Parker Corporation reported the following related to property and equipment (all in millions): From the balance sheets: From the investing activities section of the 2018 cash flow statement: Cash...
-
Question 25 (3 points) Sales (75,000 units) $750,000 Variable costs 225,000 Contribution margin 525,000 Fixed manufacturing costs 187,500 Operating income 337,500 Interest 75,000 Earnings before...
-
Choices Clothing uses the percent-of-sales method at interim periods and then at the end of each year it uses the percent-of-accounts-receivable method for financial statement reporting purposes....
-
Why does the recordkeeper prepare a trial balance?
-
Identify the four financial statements of a business.
-
Evaluate. Express answers in standard notation. 18 x 10-3 x 24 x 104 8 x 105 x 2 10-
-
Visit Cinnaholic to learn more about the company. Review Module 4, Unit 4 - How to Create a Customer Persona. Create a report for the following components: Identify and create a Marketing Mix (4Ps)...
-
Cinemark Holdings, Incorporated, operates movies and food concession counters throughout the United States. Its income statement for the quarter ended June 30, 2019, reported the following (accounts...
-
Jake's Roof Repair has provided the following data concerning its costs: Fixed cost per Month Cost per Repair Hour Wages and salaries $ 2 0 , 8 0 0 $ 1 5 . 0 0 Parts and supplies $ 7 . 7 0 Equipment...
-
Prepare journal entries to record each of the following sales transactions of a merchandising company. The company uses a perpetual inventory system and the gross method. April 1 Sold merchandise for...
-
Tech Solutions is a consulting firm that uses a job - order costing system. Its direct materials consist of hardware and software that it purchases and installs on behalf of its clients. The firm s...
-
Lateral plc has a limit of 10 million of investment finance available to it this year. It has the following investment opportunities: Assuming that the capital shortage relates only to the current...
-
Kenneth Hubbard has prepared the following list of statements about managerial accounting and financial accounting. 1. Financial accounting focuses on providing information to internal users. 2....
-
Consider the problem of an infinite plate containing a stress-free elliptical hole with x = y = 0; xy = S. For this problem, the derivative of the complex potential has been developed by...
-
For each of the following three separate cases, use the information provided about the calendar-year 2018 operations of Sahim Company to compute the required cash flow information. Case X: Compute...
-
Salud Company reports the following information. Use the indirect method to prepare only the operating activities section of its statement of cash flows for the year ended December 31, 2017. Selected...
-
Hampton Company reports the following information for its recent calendar year. Prepare the operating activities section of the statement of cash flows for Hampton Company using the indirect method....
-
Wile E. Coyote has a plan to drop an anvil on the roadrunner. He is standing on a cliff 26.2 m above the ground where the roadrunner will run past. If the roadrunner runs at a constant 9.2 m/s. If...
-
Elouise calculates the price/earnings ratio for the two companies listed below as follows: Will Corp Kunze Corp Price/Earnings Ratio 15.50 29.06 Based on these ratios, which company is expected to...
-
Texas is big, and Texas is important. Big in the sense of size(second only to Alaska) and population (second only to California).And our problems are big: public education, public health,pollution,...
Study smarter with the SolutionInn App