You have now been presented with the following list of errors and have been asked to prepare the adjusted trial balance: (journal entries are not required) a. Cash was understated by $2,000 b. A $1,000 debit to accounts receivable was posted as a credit. c. A $1,400 purchase of supplies on account was omitted from the company’s books. d. Motor Vehicle cost should have been $84,300 instead of $89,000 e. Salary expense was overstated by $500
You have now been presented with the following list of errors and have been asked to prepare the adjusted trial balance: (journal entries are not required) a. Cash was understated by $2,000 b. A $1,000 debit to accounts receivable was posted as a credit. c. A $1,400 purchase of supplies on account was omitted from the company’s books. d. Motor Vehicle cost should have been $84,300 instead of $89,000 e. Salary expense was overstated by $500
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
The following
concerned and has passed it to you for review and adjustments where
applicable:
You have now been presented with the following list of errors and have been asked to prepare the adjusted trial balance: (
a. Cash was understated by $2,000
b. A $1,000 debit to
c. A $1,400 purchase of supplies on account was omitted from the
company’s books.
d. Motor Vehicle cost should have been $84,300 instead of $89,000
e. Salary expense was overstated by $500
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