plsssss Question 1 After a trial balance had been extracted the following errors were...
70.2K
Verified Solution
Link Copied!
Question
Accounting
plsssss
Question 1 After a trial balance had been extracted the following errors were discovered: a. Cheque drawn for $44 including GST for cash purchases of inventory entered as $55 including GST. b. Salaries in the journal correctly shown as $862, but incorrectly posted as $682 (bank account correct). C. Cash sales invoices totalled in sales account as $247.19, whereas the correct total was $244.19 (bank account correct) d. Credit note for accounts receivable J.Jones incorrectly recorded as $22 including GST instead of the correct amount of $33 including GST Required: + Show how each error may be corrected
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!