For the following transactions, produce journal entries to correct the errors that have been made. No narratives
Question:
For the following transactions, produce journal entries to correct the errors that have been made. No narratives are required.
(a) Repairs paid in cash for £97 was entered in both accounts as £79.
(b) A sale on credit to C Quinn for £32 was debited to Sales and credited to Quinn’s account.
(c) Commission received of £156 by cheque was missed out from the ledgers.
(d) Rent paid by cheque for £760 included rent of the owner’s private residence for £420.
(e) Advertising paid of £34 cash was entered in both accounts as £43.
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Related Book For
Frank Woods Business Accounting Basics
ISBN: 9780273725008
1st Edition
Authors: Frank Wood, Mr David Horner
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