Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. blue spruce company discovered the following error

Blue Spruce Company discovered the following errors made in January 2022. 1. A payment of...

60.1K

Verified Solution

Question

Accounting

image
image
image
Blue Spruce Company discovered the following errors made in January 2022. 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 $2,000 from a client on account was debited to Cash $200 and credited to Service Revenue $200. 3. The purchase of equipment on account for $530 was debited to Equipment $350 and credited to Accounts Payable $350. Correct the errors without reversing the incorrect entry. (Credit account titles are automatically indented when amou is entered. Do not indent manually.) orrect the errors by reversing the incorrect entry and preparing the correct entry. (Credit account titles are

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

When a species goes extinct, its removal affects other species in the trophic hierarchy. What...

Biology
Q

The point 4 3 is rotated 90 clockwise about the origin What are the coordinates...

Basic Math
Q

5 A light rigid rod is placed on a frictionless horizontal floor and blocks of...

Physics
Q

A body constrained to move along y axis is subjected to a constant force F...

Physics
Q

River Bend started the calendar year with 100,000 shares outstanding. An additional 20,000 shares were...

Accounting
Q

Applebee sells speakers with a 6 month manufacturers warranty. At the time of purchase, customers...

Accounting
Q

TechSoft Inc. is a software company operating in Toronto, ON. On January 1,2021, TechSoft signed...

Accounting
Q

6)Explain legislation and statutory requirements and industry codes of practice including(Australia): -Consumer credit code -Privacy...

Accounting
Q

Assume the following information pertaining to Cub Company: ...

Accounting
Q

Modos Company has deposited $4,060 in checks received from customers. It has written $1.560 in...

Accounting
Q

Young Inc. was a victim of early winter storm Cruz in October of 2019. As...

Accounting
Q

undefined Jessica owns a $1,000-par zero-coupon bond that has five years of remaining maturity....

Finance