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  • Cookie Mejias Owner of Mejias Company Asked Her Bookkeeper How

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    Taimur Technologist
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    The bookkeeper made several errors in recording transactions in the company's accounts. The bookkeeper told Cookie that the office equipment, accounts payable, and supplies accounts were overstated, while the cash and capital accounts were understated. Only the accounts receivable transaction was recorded correctly. To avoid future mistakes, the bookkeeper should double check that debit and credit amounts for each transaction are recorded accurately.

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    The bookkeeper made several errors in recording transactions in the company's accounts. The bookkeeper told Cookie that the office equipment, accounts payable, and supplies accounts were overstated, while the cash and capital accounts were understated. Only the accounts receivable transaction was recorded correctly. To avoid future mistakes, the bookkeeper should double check that debit and credit amounts for each transaction are recorded accurately.

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    © All Rights Reserved
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    90 views1 page

    Cookie Mejias Owner of Mejias Company Asked Her Bookkeeper How

    Uploaded by

    Taimur Technologist
    The bookkeeper made several errors in recording transactions in the company's accounts. The bookkeeper told Cookie that the office equipment, accounts payable, and supplies accounts were overstated, while the cash and capital accounts were understated. Only the accounts receivable transaction was recorded correctly. To avoid future mistakes, the bookkeeper should double check that debit and credit amounts for each transaction are recorded accurately.

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    © All Rights Reserved
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    Cookie Mejias owner of Mejias Company asked her

    bookkeeper how #4199


    Cookie Mejias, owner of Mejias Company, asked her bookkeeper how each of the following
    situations will affect the totals of the trial balance and individual ledger accounts.? An $850
    payment for a desk was recorded as a debit to Office Equipment, $85, and a credit to Cash,
    $85.? A payment of $300 to a creditor was recorded as a debit to Accounts Payable, $300, and
    a credit to Cash, $100.? An Accounts Receivable collection of $400 was recorded as a debit to
    Cash, $400, and a credit to C. Mejias, Capital, $400.? The payment of a liability of $400 was
    recorded as a debit to Accounts Payable, $40, and a credit to Supplies, $40.? A purchase of
    equipment for $800 was recorded as a debit to Supplies, $800, and a credit to Cash, $800.? A
    payment of $95 to a creditor was recorded as a debit to Accounts Payable, $95, and a credit to
    Cash, $59.What did the bookkeeper tell Cookie? Which accounts were overstated and which
    were understated? Which were correct? Explain in writing how mistakes can be avoided in the
    future.View Solution:
    Cookie Mejias owner of Mejias Company asked her bookkeeper how

    ANSWER
    http://paperinstant.com/downloads/cookie-mejias-owner-of-mejias-company-asked-her-
    bookkeeper-how/

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