[Minder86]

Oh thank you. I get it now. But I still had a few problems with these. So 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.

1. cash received from a customer on account was recorded as $670 instead of $760.

2. The purchase on account of a computer monitor that cost $900 was recorded as a debit to supplies and a credit to accounts receivable for $900.

3. The computer monitor purchased in item 2 was purchased on march 1 and has an estimated useful life of 5 years. Amortization for march has not been recorded yet.

4. a payment of $75 for advertising expense was entered as a debit to miscellaneous expense of $50 and a credit to cash of $50.

5. A $110 cash payment for a repair expense on equipment was recorded as a debit to equipment of $101 and a credit to cash of $101.

6. the owner, hubert maurice, paid himself $1,800 and recorded this as salary expense.

7. march rent of $1,150 was paid on march 26. The company has not recorded this transaction

[pready]

See my other post for this.