Question
2. On April 5, 2016, you discovered that your newly hired bookkeeper made an error when recording a transaction the previous day. The first salary
2. On April 5, 2016, you discovered that your newly hired bookkeeper made an error when recording a transaction the previous day. The first salary payment this month was for $1,600, which included $400 of salaries payable on March 31. The payment was recorded as a debit to Wages Expense $1,600 and a credit to Cash $1,600. (No reversing entries were used.) Prepare the compound general journal entry (without explanation) needed to correct this error. If no entry is required then write "No Entry Required."
3. On April 2, 2016, you discovered that your newly hired bookkeeper made an error when recording a transaction the previous day. The errant bookkeeper posted a cash payment of repair expense on the truck for $172 was recorded as a debit to Equipment $127 and a credit to Cash $127. Prepare the compound general journal entry (without explanation) needed to correct this error. If no entry is required then write "No Entry Required."
4. On August 1, 2016 supplies were purchased; Accounts Payable was debited and Supplies credited for $1,600. The account was due in October, and $500 of these supplies was on hand at the end of August.Prepare the compound general journal entry (without explanation) needed to reflect the correct account balances (to include any end of period adjustment) as of August 31. If no entry is required then write "No Entry Required."
5.
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