GENERAL JOURNAL Description Date 20x1 April 1 Accounts Payable Fees Income Performed services on credit 2 Cash Telephone Expense Paid for March telephone service, Check 1917 3 Office Equipment Office Supplies Accounts payable Purchased file cabinet and office supplies, Check 1918 PAGE 3 Post. Ref. Debit Credit 14,700 600 8,000 900 14,700 600 8,900 (Assume that Office Equipment and Office Supplies were recorded at the correct values. However, the items were paid for entirely in cash, not on credit. Assume the errors are found and corrected on the last day of the month)
GENERAL JOURNAL Description Date 20x1 April 1 Accounts Payable Fees Income Performed services on credit 2 Cash Telephone Expense Paid for March telephone service, Check 1917 3 Office Equipment Office Supplies Accounts payable Purchased file cabinet and office supplies, Check 1918 PAGE 3 Post. Ref. Debit Credit 14,700 600 8,000 900 14,700 600 8,900 (Assume that Office Equipment and Office Supplies were recorded at the correct values. However, the items were paid for entirely in cash, not on credit. Assume the errors are found and corrected on the last day of the month)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
answer in detail with all work

Transcribed Image Text:Date
20x1
April 1 Accounts Payable
Fees Income
Performed services on credit
2 Cash
3 Office Equipment
Office Supplies
Telephone Expense
Paid for March telephone service,
Check 1917
GENERAL JOURNAL
Description
Accounts payable
Purchased file cabinet and office
supplies, Check 1918
General
Journal
General
Jours!
(Assume that Office Equipment and Office Supplies were recorded at the correct values. However, the items were paid for entirely in
cash, not on credit. Assume the errors are found and corrected on the last day of the month.)
Analyze
Analyze
Required:
Examine the above journal entries carefully and prepare the correcting journal entries.
Analyze:
After the correcting journal entries have been posted, what effect do the correcting entries have on the company's reported assets?
View transaction list
PAGE 3
Post.
Ref. Debit Credit
14,700
Complete this question by entering your answers in the tabs below.
600
Journal entry worksheet
<
2
8,000
900
14,700
3
600
4
8,900
Examine the above journal entries carefully and prepare the correcting journal entries.
>
Record the rectification entry for Performing services on credit.
Note: Enter debits before credits.
Date
Apr 30, 20X1
Record entry
<
Journal entry worksheet
1
General Journal
2
Clear entry
Date
Apr 30, 20X1
3
Note: Enter debits before credits.
4
Debit
Record a reverse of the incorrect journal entry, Check 1917.
General Journal
Credit
View general journal
Debit
Credit

Transcribed Image Text:Journal entry worksheet
<
< 1
Record the correct journal entry for payment made for March telephone
service, Check 1917.
Note: Enter debits before credits.
Date
Apr 30, 20X1
2
Record entry
Journal entry worksheet
1
2
Date
Apr 30, 20X1
3
General Journal
Note: Enter debits before credits.
4
Clear entry
Record the rectification entry for purchasing file cabinet and office supplies,
check 1918.
Debit
General Journal
Debit
Credit
View general journal
Credit
Record entry
View transaction list
Examine the above journal entries carefully and prepare the correcting journal entries.
No
Clear entry
Date
View journal entry worksheet
General Journal
View general journal
General Journal
Analyze >
Debit
Credit
Ⓒ
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