answer it correctly with working thanks Analyze:After the correcting journal entries have been posted, what effect do the correcting entries have on the company's reported assets?Complete this question by entering your answers in the tabs below.GeneralJournalExamine the above journal entries carefully and prepare the correcting journal entries.View transaction BatJournal entry worksheet< 1Record the rectification entry for Performing services on credit.Note: Enter debts before credits.DateApril 302001AssetsRecord entryNoGeneralJournalAnalyze:After the correcting journal entries have been posted, what effect do the correcting entries have on the company's reported assets?Complete this question by entering your answers in the tabs below.GeneralJournalExamine the above journal entries carefully and prepare the correcting journal entries.View transaction Est View journal entry worksheetAnaly3DateGeneral JournalAnalyzeComplete this question by entering your answers in the tabs below.byGeneral JournalDebit Credit< General JournalView general Journal< General JournalAnalyze >>After the correcting journal entries have been posted, what effect do the correcting entries have on the company's reportedassets?Analyze >DebitCredit Problem 4.3A (Algo) Recording correcting entries. LO 4-4The following journal entries were prepared and posted by an employee of Global Travel Agency who does not have an adequateknowledge of accounting.DateApril 1, 20X1April 2, 20x1April 3, 20X1CashGENERAL JOURNALAccounts PayableFees IncomePerformed services on creditDescriptionOffice EquipmentOffice SuppliesTelephone ExpensePaid for March telephone service, Check 1905Accounts PayablePurchased file cabinet and office supplies, Check 1906Post.Ref.Required:Examine the above journal entries carefully and prepare the correcting journal entries.Debit12,3005407,520840PAGE 1Credit12,3005408,360(Assume that Office Equipment and Office Supplies were recorded at the correct values. However, the items were paid for entirely incash, not on credit. Assume the errors are found and corrected on the last day of the month.)

Problem 4.3A (Algo) Recording correcting entries. LO 4-4 The following journal entries were prepared and posted by an employee of Global Travel Agency who does not have an adequate knowledge of accounting. Date April 1, 20x1 April 2, 20x1 April 3, 20x1 Cash GENERAL JOURNAL Accounts Payable Fees Income Performed services on credit Description Office Equipment Office Supplies Telephone Expense Paid for March telephone service, Check 1905 Accounts Payable Purchased file cabinet and office supplies, Check 1906 Post. Ref. Required: Examine the above journal entries carefully and prepare the correcting journal entries. Debit 12,300 540 7,520 840 PAGE 1 Credit 12,300 540 8,360 (Assume that Office Equipment and Office Supplies were recorded at the correct values. However, the items were paid for entirely in cash, not on credit. Assume the errors are found and corrected on the last day of the month.)

Problem 4.3A (Algo) Recording correcting entries. LO 4-4 The following journal entries were prepared and posted by an employee of Global Travel Agency who does not have an adequate knowledge of accounting. Date April 1, 20x1 April 2, 20x1 April 3, 20x1 Cash GENERAL JOURNAL Accounts Payable Fees Income Performed services on credit Description Office Equipment Office Supplies Telephone Expense Paid for March telephone service, Check 1905 Accounts Payable Purchased file cabinet and office supplies, Check 1906 Post. Ref. Required: Examine the above journal entries carefully and prepare the correcting journal entries. Debit 12,300 540 7,520 840 PAGE 1 Credit 12,300 540 8,360 (Assume that Office Equipment and Office Supplies were recorded at the correct values. However, the items were paid for entirely in cash, not on credit. Assume the errors are found and corrected on the last day of the month.)

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter9: Accounting For Purchases And Cash Payments

Section9.5: Posting From A Cash Payments Journal

Problem 1OYO

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