The bookkeeper for Dole Yard Service made a number of errors in journalizing and posting...

90.2K

Verified Solution

Question

Accounting

The bookkeeper for Dole Yard Service made a number of errors in journalizing and posting as described below:

1. ?A debit posting to accounts receivable for $500 ?was omitted.   

2. ?A payment of accounts payable for $600 ?was credited to cash and debited to accounts

receivable.  

3. ?A credit to accounts receivable for $650 ?was posted as $65.               

4. ?A cash purchase of equipment for $693 ?was journalised as a debit to equipment and a credit to notes payable. The credit posting was made for $639. 

5. ?A debit posting of $300 ?for purchase of supplies was credited to supplies. No  

6. ?A debit to repairs expense for $491 ?was posted as $419.  

7. ?A debit posting for wages expense for $900 ?was made twice.  

8. ?A cash purchase of supplies for $700 ?was journalised and posted as a debit to supplies for

$70 ?and a credit to cash for $70.  

Instructions

Drag the answer Yes or No from the answers below and drop it to the space provided next to each error, if the trial balance will balance or not given the error. For example, the answer to Error No 1. ?is No 

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: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students