Mi URCES Problem 46A Part Level Submission ork t Level t Lev

Mi URCES Problem 4-6A (Part Level Submission) ork t Level t Level Dao Vang, CPA, following was retained by Universal Cable to prepare financial statements for April 2017. Vang accumul UNIVERSAL CABLE Trial Balance April 30, 2017 Debit Credit Cash Accounts Receivable $4,100 3,200 800 10,600 Study Supplies Equipment Accumulated Depreciation-Equip. Accounts Payable Salaries and Wages Payable Unearned Service Revenue Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Advertising Expense Miscellaneous Expense Depreciation Expense $1,350 2,100 700 890 10,000 2,900 5,450 3,300 600 290 $23,390 $23,390 Dao Vang reviewed the records and found the following errors. Cash received from a customer on account was recorded as $950 instead of $590. ?2000-2013lehnynlessons\' inca All R:ghts Reserved. A.Division neda 1. i Pnvacveolisx i

Solution

1) incorrect entry Cash 950 Account Receivable 950 Correct entry Cash 360 Account Receivable 360 Correcting entry Account receivable 590 Cash 590 2)incorrect entry Miscellaneous expense $75 Cash $75 Correct entry Advertising expense 75 Cash 75 Correct ing entry Advertising expense 75 Miscellneous exp 75 3) incorrect entry Salary and wages exp 1900 To cash 1900 Correct entry Salary and wage exp (1900-700) 1200 Salary payable 700 cash 1900 Correcting entry Salary payable 700 Salary & wage expens 700 4)incorrect entry Supplies 310 Accounts payable 310 Correct entry Printer 310 Accounts payable 310 Correcting entry printer 310 Supplies 310 5)incorrect entry Equipment 69 cash 69 Correct entry Repair expense 96 cash 96 Correcting entry Repair expense 96 cash 27 Equipment 123