Question
Que. 3. The following errors were committed by the accountant of Shaw Company during the month of September 20X2. a. The cash purchase of a
Que. 3. The following errors were committed by the accountant of Shaw Company during the month of September 20X2.
a. The cash purchase of a $2,110 typewriter was recorded as a $2,200 debit to Office Equipment and a $2,110 credit to cash.
b. An $800 purchase of supplies on account was properly recorded as a debit to the supplies account but the credit was given to cash.
c. The Company provided services valued at $7,500 to a customer. The accountant recorded the transaction in the proper accounts but in the incorrect amount of $17,500
d. A credit of $2,000 to prepaid insurance was recorded as a debit of $2,000 to prepaid insurance.
Required: Copy the following table in your answer script and fill it up: (4X1.5) = 6
Event No. | Will the debit and credit side comply? | If differs by what amount? | Which is smaller debit or credit? |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
i have 25mins
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started