The following errors were found in the books of Rosco Consulting during the month: 1. Consultancy Service provided to Briggs Safety on account for $1500 had been omitted completely from the books. 2. A purchase of supplies for $1000 was entered in the cash account but omitted from the supplies account 3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290. 4. Drawings of $1000 were recorded as $100. 5. A gas bill for $500 was entered in the motor vehicle account Required: i. Record the journal entries necessary to correct each of the errors. Narrations are not required ii. State the type of error made for (i), (ii) & (v)
The following errors were found in the books of Rosco Consulting during the month: 1. Consultancy Service provided to Briggs Safety on account for $1500 had been omitted completely from the books. 2. A purchase of supplies for $1000 was entered in the cash account but omitted from the supplies account 3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290. 4. Drawings of $1000 were recorded as $100. 5. A gas bill for $500 was entered in the motor vehicle account Required: i. Record the journal entries necessary to correct each of the errors. Narrations are not required ii. State the type of error made for (i), (ii) & (v)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![The following errors were found in the books of Rosco Consulting during the month:
1. Consultancy Service provided to Briggs Safety on account for $1500 had been
omitted completely from the books.
2. A purchase of supplies for $1000 was entered in the cash account but omitted from
the supplies account
3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290.
4. Drawings of $1000 were recorded as $100.
5. A gas bill for $500 was entered in the motor vehicle account
Required:
i. Record the journal entries necessary to correct each of the errors. Narrations
are not required
ii.
State the type of error made for (i), (ii) & (v)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6a3f2e7d-5cb8-4afa-9389-12614fdb6539%2F57809ba9-7287-4d91-99b4-6aed7c62caed%2F3ltgd7l.jpeg&w=3840&q=75)
Transcribed Image Text:The following errors were found in the books of Rosco Consulting during the month:
1. Consultancy Service provided to Briggs Safety on account for $1500 had been
omitted completely from the books.
2. A purchase of supplies for $1000 was entered in the cash account but omitted from
the supplies account
3. Motor Vehicle purchased for $129,000 cash was entered in the books as $1290.
4. Drawings of $1000 were recorded as $100.
5. A gas bill for $500 was entered in the motor vehicle account
Required:
i. Record the journal entries necessary to correct each of the errors. Narrations
are not required
ii.
State the type of error made for (i), (ii) & (v)
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