please answer all. thank you Casey Hartwig, CPA, was retained by Global Cable to
ID: 2405346 • Letter: P
Question
please answer all. thank you
Casey Hartwig, CPA, was retained by Global Cable to prepare financial statements for April 2017. Hartwig accumulated all the ledgerbalances per Global's records and found the following GLOBAL CABLE Trial Balance April 30, 2017 Debit Credit Cash Accounts Receivable Supplies Equipment Accumulated Depreciation-Equip Accounts Payable Salaries and Wages Payable Unearned Service Revenue Owner's Capital Service Revenue Salaries and Wages Expense Advertising Expense Miscellaneous Expense Depreciation Expense $4,100 3,200 800 10,600 $1,350 2,100 700 890 12,900 5,450 3,300 600 290 500 $23,390 $23,390Explanation / Answer
Incorrect Entry
Transaction No
Account Title and Explanation
Debit
Credit
1
Cash
$ 950.00
Accounts Receivables
$ 950.00
2
Miscellaneous Expense
$ 75.00
Cash
$ 75.00
3
Salary and wagers expense
$ 1,900.00
cash
$ 1,900.00
4
Supplies
$ 310.00
Accounts Payable
$ 310.00
5
equipment
$ 69.00
cash
$ 69.00
Correct Entry
Transaction No
Account Title and Explanation
Debit
Credit
1
Cash
$ 590.00
Accounts Receivables
$ 590.00
2
Advertising Expense
$ 75.00
Cash
$ 75.00
3
Salary and wagers expense
$ 1,200.00
Salaries Payable
$ 700.00
Cash
$ 1,900.00
4
Equipment
$ 310.00
Accounts Payable
$ 310.00
5
Repairs expense
$ 96.00
Cash
$ 96.00
Correcting Entry
Transaction No
Account Title and Explanation
Debit
Credit
1
Accounts Receivables
$ 360.00
Cash
$ 360.00
2
Advertising Expense
$ 75.00
Miscellaneous Expense
$ 75.00
3
Salaries Payable
$ 700.00
Salary and wages expense
$ 700.00
4
Equipment
$ 310.00
Supplies
$ 310.00
5
Repairs expense
$ 96.00
Equipment
$ 69.00
Cash
$ 27.00
Global Cable
Trial Balance
April 30, 2017.
Cash
$ 3,713.00
Accounts receivable
$ 3,560.00
Supplies
$ 490.00
Equipment
$ 10,841.00
Accumulated depreciation-Equipment
$ 1,350.00
Accounts Payable
$ 2,100.00
Unearned service Revenue
$ 890.00
Owner's Capital
$ 12,900.00
Service Revenue
$ 5,450.00
Salaries and Wages Expense
$ 2,600.00
Advertising expense
$ 675.00
Miscellaneous Expense
$ 215.00
Depreciation expense
$ 500.00
Repair Expense
$ 96.00
Total
$ 22,690.00
$ 22,690.00
Incorrect Entry
Transaction No
Account Title and Explanation
Debit
Credit
1
Cash
$ 950.00
Accounts Receivables
$ 950.00
2
Miscellaneous Expense
$ 75.00
Cash
$ 75.00
3
Salary and wagers expense
$ 1,900.00
cash
$ 1,900.00
4
Supplies
$ 310.00
Accounts Payable
$ 310.00
5
equipment
$ 69.00
cash
$ 69.00
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