Scribd Logo
Upload

Welcome to Scribd!

  • Andrew Clark Company Discovered The Following Errors Made in January

    Uploaded by

    trilocksp Singh
    6 views1 page
    Andrew Clark Company discovered three accounting errors that were made in January 2019. The first error involved a payment of salaries and wages that was incorrectly debited to equipment instead of an expense account. The second error involved a client payment that was recorded incorrectly. The third error was related to the purchase of equipment that was recorded with incorrect debit and credit amounts. The document provides instructions on how to correct the errors by reversing entries or without reversing entries.

    Original Description:

    upload

    Original Title

    solutiondone-279

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Andrew Clark Company discovered three accounting errors that were made in January 2019. The first error involved a payment of salaries and wages that was incorrectly debited to equipment instead of an expense account. The second error involved a client payment that was recorded incorrectly. The third error was related to the purchase of equipment that was recorded with incorrect debit and credit amounts. The document provides instructions on how to correct the errors by reversing entries or without reversing entries.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    6 views1 page

    Andrew Clark Company Discovered The Following Errors Made in January

    Uploaded by

    trilocksp Singh
    Andrew Clark Company discovered three accounting errors that were made in January 2019. The first error involved a payment of salaries and wages that was incorrectly debited to equipment instead of an expense account. The second error involved a client payment that was recorded incorrectly. The third error was related to the purchase of equipment that was recorded with incorrect debit and credit amounts. The document provides instructions on how to correct the errors by reversing entries or without reversing entries.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    Andrew Clark Company discovered the following errors

    made in January
    Andrew Clark Company discovered the following errors made in January

    Andrew Clark Company discovered the following errors made in January 2019.
    1. A payment of Salaries and Wages Expense of $700 was debited to Equipment and credited
    to Cash, both for $700.
    2. A collection of $1,000 from a client on account was debited to Cash $100 and credited to
    Service Revenue $100.
    3. The purchase of equipment on account for $760 was debited to Equipment $670 and credited
    to Accounts Payable $670.
    Instructions
    (a) Correct the errors by reversing the incorrect entry and preparing the correct entry.
    (b) Correct the errors without reversing the incorrect entry.

    Andrew Clark Company discovered the following errors made in January


    SOLUTION-- http://solutiondone.online/downloads/andrew-clark-company-discovered-the-
    following-errors-made-in-january/

    Unlock answers here solutiondone.online

    You might also like