Motor vehicle expenses of $1735 had been incorrectly allocated and posted from the purchases journal to the
Question:
Motor vehicle expenses of $1735 had been incorrectly allocated and posted from the purchases journal to the motor vehicle account.
Prepare the general journal to correct this error.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (1 review)
Correcting Motor Vehicle Expense Allocation Heres the ...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Accounting An Introduction To Principles And Practice
ISBN: 9780170403832
9th Edition
Authors: Edward A. Clarke, Michael Wilson
Question Posted:
Students also viewed these Business questions
-
During September 2022, R Cudgegong found that there were a number of errors and omissions made in the general ledger and the subsidiary ledgers. You are required to make the necessary journal...
-
In the accounts of R Hibiscus, four errors were found from journal postings made during the month. These require correction by general journal. Subsidiary ledgers are used. ERROR 1 Somehow a tax...
-
The Garden Supply Center is a retail store that sells garden equipment, furniture, and supplies. Its credit purchases and purchases returns and allowances for December are shown below. The general...
-
Secondary xylem and phloem in dicot stem are produced by (a) Phellogen (b) Apical meristems (c) Axillary meristems (d) Vascular cambium
-
Can you think of a bad decision from your own school or work experience or from the recent business or political news that was made in an effort to correct or justify a past decision? As a new...
-
Find the present value of the following ordinary annuity. Periodic Payment Payment Interval Term Interest Rate Conversion Period $2300 1 year 6 years 9% quarterly The present value is $.
-
E2.3. The Financial Statements for a Bank Savings Account (Medium) You received the following statement for 2009 for your savings account at a bank. Cash balances in the account eam interest at a 5...
-
Using the following data and the straight-line method of depreciation, compute depreciation expense and make the necessary journal entry to record depreciation expense for the first year. Cost of...
-
Help Please! Exercise 11-3 (Algo) Transfer Pricing Basics [LO11-3] Sako Company's Audio Division produces a speaker that is used by manufacturers of various audio products. Sales and cost data on the...
-
R Capertee, who uses control accounts, raised a tax invoice for $1342 ($1220 + $122 GST) to B Cider but it has been incorrectly allocated through the sales journal to B Spider. Prepare the general...
-
In the accounts of T Lasiandra, inventory was purchased on credit from D Shores for $1617 ($1470 + $147 GST). However, there was an error and its entry and processing in the purchases journal was for...
-
Use the information in the adjusted trial balance reported in Exercise 14-1 to prepare Jones Trucking Companys classified balance sheet as of December 31, 2008. Exercise 14-1: Use the following...
-
Briefly, discuss the use of survey research in exploratory, descriptive, explanatory, and evaluation studies. Using a criminal justice example select one type of research study and develop one...
-
Medical Helicopters In a study of helicopter usage and patient survival, results were obtained from 47,637 patients transported by helicopter and 111,874 patients transported by ground (based on data...
-
Woodland Hills Company reported income before taxes (pretax financial income) in its income statement of $60,000. Among the items included in the computation of pretax financial income were the...
-
cest Shouldice Hospital in Canada is widely known for one thing-hernia repair! In fact, that is the only operation it performs, and it performs a great many of them. Over the past two decades this...
-
The activation energy for the gas phase decomposition of isobutyl bromide is 211 kJ. (CH3)2CHCH2 Br (CH3)2C=CH2+ HBr The rate constant at 676 K is 5.73 x 10-4 s. The rate constant will be 0.00647 s...
-
Do you agree with Woods description? What advice about language use would you give to an ambitious woman making her way through a professional career in which men are in the majority?
-
Critical reading SAT scores are distributed as N(500, 100). a. Find the SAT score at the 75th percentile. b. Find the SAT score at the 25th percentile. c. Find the interquartile range for SAT scores....
-
Contex Cables manufactures digital fibre optic cables designed for telecommunications use. The company markets this product to commercial contractors engaged in government projects. Contex Cables has...
-
Cooler Rooms Ltd manufactures airconditioning units designed for apartment use. The company markets this line in two geographic areas, one with a humid climate and the other with a dry climate....
-
Perfect Printers Ltd provides high volume offset colour and black and white printing for newspapers. It applies factory overhead to jobs on the basis of machine hours. The budgeted fixed overhead...
-
In the context of portfolio theory, what is diversification primarily intended to do ? A ) Increase returns. B ) Reduce risk. C ) Maximize tax efficiency. D ) Simplify investment management.
-
4. The risk-free rate of return is 3.78% and the market risk premium is 6.42%. What is the expected rate of return on a stock with a beta of 1.09?
-
Maddox Resources has credit sales of $ 1 8 0 , 0 0 0 yearly with credit terms of net 3 0 days, which is also the average collection period. Maddox does not offer a discount for early payment, so its...
Study smarter with the SolutionInn App