209. On November 30th, Damien Lawson is informed by his accountant that $550 of a transaction recording the purchase of office supplies was really office equipment. He has been asked to correct this journal entry. Write the journal entry to correct this situation.
210. Journalize the entries to correct the following errors:
(a)
A purchase of supplies for $200 on account was recorded and posted as a debit to Supplies for $500 and as a credit to Accounts Receivable for $500.
(b)
A receipt of $4,000 from Fees Earned was recorded and posted as a debit to Fees Earned for $4,000 and a credit to Cash for $4,000.
211. For the following, mark an “D” if the following account normally has a debit balance and mark a “C” if the following account normally has a credit balance._____1. Notes Payable_____2. Mortgage Payable_____3. Dividends_____4. Accounts Receivable_____5. Capital Stock_____6. Rent Revenue_____7. Unearned Income_____8. Utility Expense_____9. Automobiles
1.C 2.C 3.D 4.D 5.C 6.C 7.C 8.D 9.D
212. On January 1, 2010, Cary Parsons established a catering service. Listed below are accounts to use for transactions (a) through (d), each identified by a number. Following this list are the transactions that occurred during the first month of operations. You are to indicate for each transaction the accounts that should be debited and credited by place the account number(s) in the appropriate box.
1.
Cash
2.
Accounts Receivable
3.
Supplies
4.
Prepaid Insurance
5.
Equipment
6.
Truck
7.
Notes Payable
8.
Accounts Payable
9.
Capital Stock
10.
Dividends
11.
Fees Earned
12.
Wages Expense
13.
Rent Expense
14.
Utilities Expense
15.
Truck Expense
16.
Miscellaneous Expense
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