please use journal entre to solve over and under as in the example in one of the pictures
New Overs/Unders 1. Alpha purchased equipment for cash but did not record it. Nor was an AJE recorded for the deprecation on the equipment. 2. Alpha received cash in advance from a customer for services to be performed in the future but failed to record the transaction. Alpha also failed to record an AJE. By year end, some of the services had not been performed. 3. Alpha failed to record a refund of cash to a customer for the return of merchandise sold during the year using the periodic inventory system. Alpha issued common stock to an investor for cash. However, the transaction was erroneously recorded as a cash sale. Alpha sold merchandise to Beta on credit with terms F.O.B. Destination. As of December 31, the merchandise had not yet been received by Beta Alpha recorded the sale and counted the merchandise in ending inventory (periodic system). Alpha paid a dividend to shareholders (to satisfy dividends payable) but erroneously recorded it as cash paid to satisfy an account payable. Alpha erroneously recorded an AJE for interest on a note payable instead of the correct AJE for interest on a note receivable. The interest won't be received by Alpha until next year. . Alpha recorded cash received in advance from a customer for services to be performed in the future as a got to cash and credit to service revenue. Alpha also failed to record an AJE a year services performed. y Alpha recorded the prepayment of one year of rent as a debit to rent expense and a credit to account payable. Alpha failed to record an AJE at the end of the vear when there were still two months offer remaining in the lease. 10. Alpha failed to record the return of inventory to the manufacturer for a credit (periodic inventory system). 11. Alpha purchased merchandise on credit with terms F.O.B. Destination. As of December 31, the merchandise had not yet been received by Alpha. Alpha recorded the purchase and included that merchandise in ending inventory (periodic system) 12. Alpha should have recorded the purchase of supplies on credit but didn't. As a result, no AJE was recorded at year end for the amount of those supplies used. 13. Alpha failed to record the prepayment of one year of rent paid. Alpha also failed to record an AJE at the end of the year when there was still nine months of time remaining on the lease. 14. Alpha sold merchandise to Beta on credit with terms F.O.B. Shipping Point. As of December 31, the merchandise had not yet been received by Beta. Alpha did not record the sale and counted the merchandise in ending inventory (periodic system). 15. Alpha paid cash to satisfy an account payable but erroneously recorded it as a dividend paid to shareholders. The declaration of the dividend was previously recorded. 16. Alpha made a cash sale but erroneously recorded it as a loan from a bank. 17. Alpha erroneously recorded an AJE for interest on a note receivable instead of the correct AJE for interest on a note payable. The interest won't be paid by Alpha until next year. 18. Alpha purchased equipment on credit but did not record it. No payments were made during the year and no AJE was recorded for the depreciation on the equipment. noto receivable The interest won't be received until 1. The purchase of equipment for cash] is reconded as a [debit to Equipment and a credit to Accounts Payables Common Stock & Revenue A = E(N) Retained Earnings S Expense 1. Should've Aseet ant Equipment y Asset DAL nt A DAR Acctually Equipment Accounts Payable to 70 70 N Shodke Frited to record purchase of merchandise
