Bernard Hinton is a sole trader who had the following transactions during April Year 7:
1. An amount of$127received from J Smith,a debtor,in settlement of his account,had been treated as a cash sale.
2. During the month,some equipment,which orginally cost$860and for which no allowance for depreciation had yet been made,was sold for$480cash and the proceeds credited to Sales Asscount.No other adjustment had made.
Draw up the Journal entries necessary to correct the errors in 1,2
Error and Suspense Account
2007-09-25 10:33 pm
回答 (2)
2007-09-30 10:38 pm
✔ 最佳答案
1. An amount of$127received from J Smith,a debtor,in settlement of his account,had been treated as a cash sale.Dr sale 127
Cr debtor--J Smith 127
2. During the month,some equipment,which orginally cost$860and for which no allowance for depreciation had yet been made,was sold for$480 cash and the proceeds credited to Sales Asscount.No other adjustment had made.
Dr Disposal 380 ($860-$480=$380)
Dr Sale 380
Cr Suspenses Account 760
2007-09-26 12:00 am
1. Dr. Sales $127
Cr. J Smith $127
Cr. J Smith $127
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