Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

what is the name of the error that was corrected in item # 4? Phil Couto is a trader in Brazilian textiles. The following General

image text in transcribed

image text in transcribed

image text in transcribed

what is the name of the error that was corrected in item # 4?

Phil Couto is a trader in Brazilian textiles. The following General Journal represents the correction of five errors in the firm on June 30, 2020 DETAILS Dr $ $ 1 Sales 3,400 Mary Spice 3,400 Goods sold on credit to Mary Spice was overstated 2 Suspense 8,250 Purchases 8.250 Goods Purchased by cheque was correctly posted in the Bank account but was overstated in the Purchases Account 3 Rory Mckey 7,200 Bank 7 200 Bank 7,200 Romy Mckenzie 7 200 thonlineutech.edu.jm/mod/quiz/attempt. Cheque received from Romy Mckenzie was posted to the account of Rory Mckey 7.100 Cash 7.100 Office Expense Office Expense 1,700 1,700 Cash Payment of cash for office expense was incorrectly posted to the book 5 Motor Vehicle Repairs Suspense 5.000 5,000 Payment of motor vehicle repairs by cheque was not posted to the motor vehicle repairs account What is the name of the error that was being corrected in item #42 Select one 1,700 Office Expense 1,700 Cash Payment of cash for office expense was incorrectly posted to the book 5,000 Motor Vehicle Repairs 5,000 Suspense Payment of motor vehicle repairs by cheque was not posted to the motor vehicle repairs account What is the name of the error that was being corrected in item # 4? Select one: a. Transposition b. Reversal of Entry O c. Principle d. Commission

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

Making Sense Of Audit Business Side Of General Practice

Authors: Donald Sal Irvine

1st Edition

1870905121, 978-1870905121

More Books

Students also viewed these Accounting questions