Homework Answers
A) Reverse entry to rectify the error:
Account Receivable $417
To Supplier Ac/ Dr $417
Correct Entry:
Accounts receivables:
Accounts receivable A/c Dr $417
To Sales A/c $417
Purchase of Supplies:
Purchases A/c Dr $219
To Accounts Payable A/c $219
B) Fees Earned Corect Entry
Cash A/c Dr $5,851
To Fees Earned $5,851
Remarks:
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Calculator 1.300 The assets and liabilities of Thompson Computer Services at March 31, the end of...
Calculator 1.300 The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The common stock was $132,800 and the retained earnings were $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $26,000 in stock. Accounts payable $2,000 Miscellaneous Expense $1,040 Accounts receivable 10,340 Office expense Cash 21,420 Supplies 1,670 Fees earned 72,590 Wages expense...
Calculator The assets and liabilities of Thompson Computer Services at March 31, the end of the...
Calculator The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. TI common stock was $127,300 and the retained earnings were $65,000 at April 1, the beginning of the current year. During the year, shareholders purchased an a $25,700 in stock $2,000 $1,010 Accounts payable Miscellaneous Expense Office expense 10,340 Accounts receivable 1,290 1,670 Cash 21,420 Supplies 23,380 Fees earned Wages expense...
The assets and liabilities of Thompson Computer Services atMarch 31, the end of the current...
The assets and liabilities of Thompson Computer Services at
March 31, the end of the current year, and its revenue and expenses
for the year are listed below. The capital of the owner was
$180,000 at April 1, the beginning of the current year. Mr.
Thompson invested an additional $25,000 in the business during the
year. Accounts payable $ 2,000 Miscellaneous expense $ 1,030
Accounts receivable 10,340 Office expense 1,240 Cash 21,420
Supplies 1,670 Fees earned 73,450 Wages expense 23,550...
Calculator The assets and liabilities of Thompson Computer Services at March 31, the end of the...
Calculator The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $194,100 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $560 Accounts receivable 10,340 Office expense 550 Cash 32,320 Supplies 1,670 Fees earned 78,730 Wages expense 33,380 Land...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $194,400 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,200 in the business during the year. Accounts payable $1,200 Miscellaneous expense $520 Accounts receivable 8,070 Office expense 690 Cash 34,090 Supplies 1,670 Fees earned 78,360 Wages expense 28,590 Land 47,500...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $186,800 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,900 in the business during the year. Accounts payable $1,200 Miscellaneous expense $580 Accounts receivable 8,970 Office expense 470 Cash 34,990 Supplies 1,670 Fees earned 70,870 Wages expense 32,590 Land 45,700...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $188,600 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,000 in the business during the year. Accounts Amount Accounts Amount Accounts payable $1200 Miscellaneous expense $580 Accounts receivable 10,759 Office expense 310 Cash 30,485 Supplies 1,670 Fees earned 76,430 Wages...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $194,100 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $560 Accounts receivable 10,340 Office expense 550 Cash 32,320 Supplies 1,670 Fees earned 78,730 Wages expense 33,380 Land 47,000...
Google CengageNOWV2 Online teaching and learning resource from Cengage Learning The assets and liabilities of Thompson...
Google CengageNOWV2 Online teaching and learning resource from Cengage Learning The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $191,800 at April 1, the beginning of the current year. Mr. Thompson invested an additional $17,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $600 Accounts receivable 10,340 Office expense 530 Cash 32,320...
Journalize the entries to correct the following errors: a. A purchase of supplies for $248 on...
Journalize the entries to correct the following errors: a. A purchase of supplies for $248 on account was recorded and posted as a debit to Supplies for $515 and as a credit to Accounts Receivable for $515. (Record the entry to reverse the error first.) If an amount box does not require an entry, leave it blank. Accounts Receivable b. A receipt of $4,044 from Fees Earned was recorded and posted as a debit to Fees Earned for $4,044 and...
Calculator 1.300 The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The common stock was $132,800 and the retained earnings were $60,000 at April 1, the beginning of the current year. During the year, shareholders purchased an additional $26,000 in stock. Accounts payable $2,000 Miscellaneous Expense $1,040 Accounts receivable 10,340 Office expense Cash 21,420 Supplies 1,670 Fees earned 72,590 Wages expense...
Calculator The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. TI common stock was $127,300 and the retained earnings were $65,000 at April 1, the beginning of the current year. During the year, shareholders purchased an a $25,700 in stock $2,000 $1,010 Accounts payable Miscellaneous Expense Office expense 10,340 Accounts receivable 1,290 1,670 Cash 21,420 Supplies 23,380 Fees earned Wages expense...
The assets and liabilities of Thompson Computer Services at
March 31, the end of the current year, and its revenue and expenses
for the year are listed below. The capital of the owner was
$180,000 at April 1, the beginning of the current year. Mr.
Thompson invested an additional $25,000 in the business during the
year. Accounts payable $ 2,000 Miscellaneous expense $ 1,030
Accounts receivable 10,340 Office expense 1,240 Cash 21,420
Supplies 1,670 Fees earned 73,450 Wages expense 23,550...
Calculator The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $194,100 at April 1, the beginning of the current year. Mr. Thompson invested an additional $14,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $560 Accounts receivable 10,340 Office expense 550 Cash 32,320 Supplies 1,670 Fees earned 78,730 Wages expense 33,380 Land...
The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $194,400 at April 1, the beginning of the current year. Mr. Thompson invested an additional $15,200 in the business during the year. Accounts payable $1,200 Miscellaneous expense $520 Accounts receivable 8,070 Office expense 690 Cash 34,090 Supplies 1,670 Fees earned 78,360 Wages expense 28,590 Land 47,500...
Google CengageNOWV2 Online teaching and learning resource from Cengage Learning The assets and liabilities of Thompson Computer Services at March 31, the end of the current year, and its revenue and expenses for the year are listed below. The capital of the owner was $191,800 at April 1, the beginning of the current year. Mr. Thompson invested an additional $17,000 in the business during the year. Accounts payable $1,200 Miscellaneous expense $600 Accounts receivable 10,340 Office expense 530 Cash 32,320...
Journalize the entries to correct the following errors: a. A purchase of supplies for $248 on account was recorded and posted as a debit to Supplies for $515 and as a credit to Accounts Receivable for $515. (Record the entry to reverse the error first.) If an amount box does not require an entry, leave it blank. Accounts Receivable b. A receipt of $4,044 from Fees Earned was recorded and posted as a debit to Fees Earned for $4,044 and...
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