ACC100 ALEKS WEEK 4 Correcting entries 6 - Print...

This preview shows page 1 - 3 out of 3 pages.

The preview shows page 2 - 3 out of 3 pages.
PrintCorrecting entriesRogers Company has employed a bookkeeper who isinexperienced. On December 30, after reviewing the records forthe year, you discover the following error.On May 1, Rogers Company purchasedSupplieson account,$840. The bookkeeper recorded this by debiting SuppliesExpense for $480 and creditingCashfor $480.Note:Assume that it is the company's policy to record thepurchase of supplies in the Supplies account.Required:Prepare acorrecting entryon December 30. Make sure to enterthe day for each separate transaction.On May 1, Rogers Company purchased $840 worth of supplies on account to be used in thefuture. Supplies Expense was debited for $480, andCashwas credited for $480.Click on the following for moreinformation:"Unearned Revenue", "AccountsPayable" and "Accounts Receivable".
There are two errors in this problem.First, in the amount of the entry, the first two digits are transposed.
End of preview. Want to read all 3 pages?

Upload your study docs or become a

Course Hero member to access this document

Term
Summer
Professor
BEISER
Tags
Accounting, Revenue, invoice, Accounting software, supplies expense

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture