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please answer it correctly! and i'll give you a thumbs up. --/10 E Question 5 of 5 Dao Vang, CPA, was retained by Sheffield Cable
please answer it correctly! and i'll give you a thumbs up.
--/10 E Question 5 of 5 Dao Vang, CPA, was retained by Sheffield Cable to prepare financial statements for April 2022. Vang accumulated all the ledger balances per Sheffield's records and found the following. Sheffield Cable Trial Balance April 30, 2022 Debit Credit Cash $4,200 Accounts Receivable 3.000 900 10,900 $1.300 2.300 Supplies Equipment Accumulated Depreciation Equip Accounts Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Retained Earnings 700 900 9,890 2.900 Service Revenue 5,800 Salaries and Wages Expense 3.500 Advertising Fu 500 - / 10 Question 5 of 5 III 500 Advertising Expense Miscellaneous Expense Depreciation Expense 290 500 $23.790 $23,790 Dao Vang reviewed the records and found the following errors. 1 2 3. Cash received from a customer on account was recorded as $730 instead of $370, A payment of $79 for advertising expense was entered as a debit to Miscellaneous Expense 579 and a credit to Cash $79. The first salary payment in April was for $2,000, which included $700 of salaries payable on March 31. The payment was recorded as a debit to Salaries and Wages Expense $2.000 and a credit to Cash $2,000. (No reversing entries were made on April 1) The purchase on account of a printer casting $290 was recorded as a debit to Supplies and a credit to Accounts Payable for $290 5. A cash payment of repair expense on equipment for $71 was recorded as a debit to Equipment $17 and a credit to Cash $17. Question 5 of 5 -/10 Prepare an analysis of each error showing the incorrect entry, the correct entry, and the correcting entry.Items 4 and 5 occurred on April 30, 2022. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) INCORRECT ENTRY Debit Credit No. Account Titles and Explanation 1. 3 4 Question 5 of 5 - / 10 5. CORRECT ENTRY No. Account Titles and Explanation Debit Credit 1 N 3. 4 Question 5 of 5 - / 10 4. 5. CORRECTING ENTRY No. Account Titles and Explanation Debit Credit 1. 2 3 4 Question 5 of 5 - /10 E 4 e Textbook and Media List of Accounts Sve torte Attempts: 0 of 5 used Submit Answer (b) The parts of this question must be completed in order. This part will be available when you complete the part above Step by Step Solution
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