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lara31 [8.8K]
2 years ago
13

On May 25, after the transactions had been posted, Adams discovered that the following entry contains an error. The cash receive

d represents a collection on account, rather than new service fees.
20--
May 23 Cash 101 1,270
Service Fees 401 1,270
Received cash for services previously earned
Correct the error in the general journal using the correcting entry method. If an amount box does not require an entry, leave it blank.
Business
1 answer:
vampirchik [111]2 years ago
3 0

Answer:

With the correcting entry method, the wrongly posted account will transfer the amount that was to be posted elsewhere to the place it was to be posted in. In this case the posting was to be to Accounts Receivable not Service fees so:

Date                   Account Title                                     Debit                  Credit

May 23              Service Fees                                   $1,270

                          Accounts Receivable                                                 $1,270

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Answer:

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When inspecting a fire extinguisher:
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3 0
2 years ago
The Mixing Department of Complete Foods had 62,000 equivalent units of materials for October. Of the 62,000 ​units, 38,000 units
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Answer:

Materials

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Conversion

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WIP

24,000 x .75 = 18,000

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x .55 CC = 23540

Materials

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3 years ago
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