Ask Question, Ask an Expert

+61-413 786 465

info@mywordsolution.com

Ask Accounting Basics Expert

Problem

On July 9, 2016, an employee of Capital Corporation mistakenly debited Utilities Expense rather than Telephone Expense when recording a bill of $1,000 for the May telephone service. The error was discovered on July 30. Prepare a general journal entry to correct the error.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92807996

Have any Question?


Related Questions in Accounting Basics

Question - a belgian food distributor reported ending

Question - A Belgian food distributor reported ending balances in Prepayments of €38.4 million, €32.3 million, and €52.6 million for the years ended December 31, 2012, 2011, and 2010, respectively. Assume that Prepayment ...

Question - at the beginning of the year anderson

Question - At the beginning of the year, Anderson Corporation's assets were $150,000 and its stockholders' equity was $100,000. During the year, assets increased $10,000 and liabilities decreased $10,000. a) What was the ...

Question - 1 on january 1 2017 germany ltd a canadian

Question - 1. On January 1, 2017, Germany Ltd. (a Canadian public company) issued a series of bonds in order to raise money for future projects. The bonds paid 5% interest per year, and mature on January 1, 2027. Germany ...

Assignment -in this assignment you are asked to provide a

Assignment - In this assignment, you are asked to provide a summary of recent developments relating to financial reporting and prepare financial statement reports in accordance with accounting standard requirements. As s ...

Question - given are the data of coopers ltd for the year

Question - Given are the data of Coopers Ltd for the year ended 30th June 2018. Opening stock (1st July 2017) 5,000 units. Units produced 30,000 Units. Units sold 33,000 Units. Closing stock (30th June, 2018) 2,000 Units ...

Question - if you earned an income of 36500 in wages and

Question - If you earned an income of $36,500 in wages and other contractual income of $42,600 working under your own ABN, making a net profit of $38,500, what would be your total assessable income?

Question my choice is starbucksaccess each of the social

Question: My choice is Starbucks Access each of the social media pages for the brand you have selected (Facebook, Twitter, Instagram, etc.). Provide an assessment of the effectiveness of the social media sites: number of ...

Question suppose that france and germany both have 100

Question: Suppose that France and Germany both have 100 units each of capital and labor, and that they share the same CRS technology with which they produce wine and cheese. However, tastes differ in the two countries: c ...

Question - for the year ended december 31 2017 transformers

Question - For the year ended December 31, 2017, Transformers Inc. reported the following: Net Income $295120 Preferred dividends paid 52563 Common dividends paid 11449 Unrealized holding loss, net of tax 4297 Retained E ...

Question - yourco inc manufactures and sells two products

Question - Yourco Inc. manufactures and sells two products. Relevant per unit data concerning each product follow. Product Basic Deluxe % of sale 25% 75% Selling price $40 $48 Variable costs 55% 50% 1) Compute the weight ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As