The following cash receipts journal headings have been suggested for a small service firm. List the errors
Question:
The following cash receipts journal headings have been suggested for a small service firm. List the errors you find in theheadings.
Transcribed Image Text:
CASH RECEIPTS JOURNAL Accts. Rec. Cr. Fees Earned Other Post. Ref. Cash Cr. Accounts Dr. Account Credited Cr. Date
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
There are two errors in the headings of the cash ...View the full answer
Answered By
Fahmin Arakkal
Tutoring and Contributing expert question and answers to teachers and students.
Primarily oversees the Heat and Mass Transfer contents presented on websites and blogs.
Responsible for Creating, Editing, Updating all contents related Chemical Engineering in
latex language
4.40+
8+ Reviews
22+ Question Solved
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
Question Posted:
Students also viewed these Accounting questions
-
List the errors you find in the following balance sheet. Prepare a corrected balancesheet. Cabana Services Co. Balance Sheet For the Year Ended August 31, 2010 Liabilities Assets Current liabilities:...
-
List the errors you find in the following statement of cash flows. The cash balance at the beginning of the year was $100,320. All other amounts are correct, except the cash balance at the end of...
-
List the errors you find in the following balance sheet. Prepare a corrected balancesheet. VINEYARD SERVICES CO. Balance Sheet For the Year Ended October 31, 2010 Assets Current assets: $ 12,000 Cash...
-
Ruff, Tuff, and Duff are parners sharing profits and losses 30/30/40 respectively. Their balance sheet is below: Cash Receivable from Ruff Property & Equipment $200,000 10,000 500,000 $710,000...
-
The following information is available from the balance sheets at the ends of the two most recent years and the income statement for the most recent year of Impact Company: Other Information a....
-
Yorks Rustic Furniture began operations on January 1, 2014. To build its customer base, the company permitted customers, regardless of their credit history, to pay in installments when they made a...
-
An Euler trail is a trail that visits each _________________ exactly once. Fill in the blank to make the statement true.
-
Herbst Co. issued $800,000,000 of five-year, 13% bonds with interest payable semiannually, at a market (effective) interest rate of 11%. Determine the present value of the bonds payable, using the...
-
Video Assignment 3.4 progress saved Done Score: 54.83/70 6/7 answered Vo . . . Question 7
-
Binbutti Engineering, a sole proprietorship, completed the following transactions during July 2020, the third month of operations: Required 1. Prepare journal entries to record the transactions. Use...
-
Total Solutions Consulting Company makes most of its sales and purchases on credit. It uses the five journals described in this chapter (revenue, cash receipts, purchases, cash payments, and general...
-
Steinway Technical Services Inc. was established on June 15, 2010. The clients for whom Steinway provided technical services during the remainder of June are listed below. These clients pay Steinway...
-
Under what theory might the court in this case make an exception to the limited liability of shareholders and hold Sharp personally liable for the damages? What factors would be relevant to the...
-
Give three examples of a sampling unit.
-
What is the difference between block sampling and haphazard sampling?
-
In performing the sampling plan, how should the auditor classify unlocated documents?
-
What is the objective of System Deployment?
-
What is automatic control?
-
Based on a limited number of empirical studies of where problems occur in programs, which of the following statements is false? a. Requirements specification and design errors are just as prominent...
-
The pendulum consists of two rods: AB is pin supported at A and swings only in the y-z plane, whereas a bearing at B allows the attached rod BD to spin about rod AB. At a given instant, the rods have...
-
Describe support and confidence. Express the formula for confidence using support.
-
Sprague Company reported these income statement data for a 2-year period. Sprague Company uses a periodic inventory system. The inventories at January 1, 2011, and December 31, 2012, are correct....
-
A Kirk Limited is trying to determine the value of its ending inventory as of February 28, 2012, the companys year-end. The accountant counted everything that was in the warehouse, as of February 28,...
-
Turner Distribution markets CDs of numerous performing artists. At the beginning of March, Turner had in beginning inventory 2,500 CDs with a unit cost of $7. During March, Turner made the following...
-
Rapid Corp. makes two products: C and D . The following data have been summarized: View the Data and the Photo attached. The company plans to manufacture 2 5 0 units of each product. Calculate the...
-
The Murdock Corporation reported the following balance sheet data for 2 0 2 4 and 2 0 2 3 : Additional information for 2 0 2 4 : Sold available - for - sale debt securities costing $ 6 9 , 5 0 0 for...
-
ABC Inc. has 1 5 , 0 0 0 $ 2 . 5 0 cumulative preferred shares and 7 5 , 0 0 0 common shares outstanding. There were no dividends declared or paid in the last 2 years, but the Company declared $ 1 2...
Study smarter with the SolutionInn App