Question
While performing its monthly bank reconciliation, the bookkeeper for the Grace Corporation noted that a deposit of $990 (received from a customer on account) was
While performing its monthly bank reconciliation, the bookkeeper for the Grace Corporation noted that a deposit of $990 (received from a customer on account) was recorded in the company books as $900. Which of the following shows the effect of the correcting entry on the financial statements?
| Assets | = | Liab. | + | Equity | Rev. | Expenses | = | Net Inc. | Cash Flow | |||||||
| A. | 90 | = | NA | + | 90 | 90 | NA | = | 90 | 90 | OA |
| B. | 990 | = | NA | + | 990 | 990 | NA | = | 90 | 990 | OA |
| C. | NA | = | NA | + | NA | NA | NA | = | NA | 90 | OA |
| D. | NA | = | NA | + | NA | NA | NA | = | NA | (90 | ) | OA | |||||
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M Glichkeiten Und Grenzen Der F Rderung Verantwortlichen Handelns Von Wirtschaftspr Fern In Moralisch Relevanten Situationen Eine Theoretische Und And Accounting Studies
Authors: Catharina Schmiele
2012 Edition
383493335X, 978-3834933355
