FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Find is the error in the Journal Entry below, and explain the error. Use the sample Journal Entry provided Account Debit Credit Notes & Comments

Find is the error in the Journal Entry below, and explain the error.
Use the sample Journal Entry provided
Account Debit Credit Notes & Comments
10350 Bank Chequing $319.79
29300 Vehicle Loan $219.48
71300 Interest Expense $63.52
24200 HST Paid ITC $36.79
Total Liabilities & Equity $319.79 $319.79

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Auditing Assurance And Risk

Auditing Assurance And Risk

Authors: W Robert Knechel, Steven E Salterio

4th Edition

1315531720, 9781315531724

More Books

Students also viewed these Accounting questions

Question

★★★★★
1. It is always best to start a series of interviews by talking to the target first. a. True b. False 2. Which of the following is not a type of question normally employed in an interview process? a....

Answered: 1 week ago

Question

★★★★★
Leasing Equipment Corporation (LEC) agrees to lease five computer workstations to Mapmakers, Inc. Before any interest in the workstations can pass from LEC to Mapmakers, they must be a. in existence...

Answered: 1 week ago

Question

★★★★★
26. A deck of 52 playing cards, containing all 4 aces, is randomly divided into 4 piles of 13 cards each. Define events E1, E2, E3, and E4 as follows: : 1 E = {the first pile has exactly 1 ace}, E2 =...

Answered: 1 week ago

Question

★★★★★
Missoula Railroad decided to use the high-low method and operating data from the past six months to estimate the fixed and variable components of transportation costs. The activity base used by...

Answered: 1 week ago

Question

★★★★★
Current Attempt in Progress Ayayai Corp. reported net s les of $ 2 5 0 , 0 0 0 , cost of goods sold of $ 1 5 0 , 0 0 0 , operating expenses of $ 4 5 , 0 0 0 , net income of $ 2 5 , 0 0 0 , beginning...

Answered: 1 week ago

Question

★★★★★
Solve for the unknown interest rate in each of the following: (Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16.) Present Value $...

Answered: 1 week ago

Question

★★★★★
1.1.9 Quiz: An Alternative to Riemann Sums 5 sin(x) Consider the function f(x) = +5.1.1 (+2), which is +5.1.1-(2+2) (x2+4x+5) graphed below on the interval [-2, 8]. 0 2 # Click here for long...

Answered: 1 week ago

Question

★★★★★
Volcano Pty Ltd (Volcano) operates three surfing stores in Queensland. On 8 August 2016, Gao was appointed to the position of managing director of Volcano for a period of two years. A return was...

Answered: 1 week ago

Question

★★★★★
One of your team members calls you and asks for your help unloading baggage from a flight which will arrive shortly. You are currently working at a different terminal finishing the loading process...

Answered: 1 week ago

Question

★★★★★
Given the evolving nature of cyber threats, how do you ensure that your knowledge stays current? In a rapidly changing digital landscape, staying informed about the latest cybersecurity trends is...

Answered: 1 week ago

Question

★★★★★
The student performed a specific heat capacity measurement of the same unknown fluid sample using the DSC and followed the Three-Run Method. They performed the heat flow calibration prior to their...

Answered: 1 week ago

Question

★★★★★
1. Analyze your work or school environment. Identify the distractions that you face on a daily basis and defend or reject their relevance to your ability to critically think, problem solve, and...

Answered: 1 week ago

Question

★★★★★
6. What are the major differences between labour management relations in Europe and those in Canada?

Answered: 1 week ago

Question

★★★★★
1. Analyze what filters were in place to block effective communication between the hospital administrators, medical staff, and affected patients.

Answered: 1 week ago

Previous Question Next Question