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Correcting Entries
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You are a newly-hired accountant of the Aguamenti Company, having been hired on August 31, 2009. However, shortly after you have acquired knowledge of the business' systems and accounts, you have discovered the following omissions and errors perpetrated in the past years (the Company uses a fiscal...
I'm interested.correcting entries, incorrect entries
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I was wodnering If someone can tell me how these were done. I am a mother of a nursing student and I am interested in doing accounting diploma. So I want to learn before I decide. I was wondering if someone can tell me what the incorrect entry, the correct entry and the correcting entry would be. I...
Correcting Entries
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How do I show the correcting entry for... Payment on account of $920 to a creditor was debited $290 to a/p and credited $290 to cash? Also, A $400 withdrawal of cash for Bett's personal use was debited $400 to salaries expense and credit $400 to cash And finally A customer was billed...
Correcting Entries
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The question is: At the end of 2007 the company accrued salaries of $45 000 in excess of the correct amount. Prepare the journal entry in 2008 to correct the books. The answer is: Sales Salaries Expense 45,000 Retained Earnings 45,000 I don't understand why... what is the closing...
Correcting entries
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Which accounts would I use to correct an entry, where a bill was posted as being paid and later it was realized that the bill was paid with the owner's personal money? View more questions Search
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