You are watching: If a journal entry that contains an error has already been posted,
If a journal entry that has an error has currently been posted,a correcting entry have to be journalized and also posted.
If a journal entry that contains an error has already been posted, (Points : 2) the incorrect items need to be erased and also replaced v the exactly data. The journal need not be corrected yet the posting to the ledger must be repair by crossing out the not correct data and also writing the correct data above it. A correcting entry must be journalized and also posted. The not correct items must be corrected by crossing out the untrue data and writing the exactly data over it in both the journal and also the ledger.
The process of transferring data indigenous the journal to the ledger is recognized as balancing. Journalizing. Ledgering posting
When an entry is made in the basic journal, (Points : 4) assets should be listed first. Accounts to it is in debited must be provided first. Account to be enhanced should be noted first. Accounts may be listed in any kind of order.
The journal entry to record the payment the a monthly utility bill would include a debit to Utilities Expense and also a credit to Capital. A debit to Capital and also a credit transaction to Cash. A debit come Utilities Expense and also a credit to Cash. A debit come Utilities Expense and also a credit to account Payable
The newspaper entry to record the payment that a monthly energy bill would encompass a debit to Utilities Expense and a credit to Cash.
If liabilities space $4,000 and owner"s same is $15,000, assets are: 1. $9,000. 2. $15,000. 3. $19,000. 4. $4,000.
thedesigningfairy.com: Equity= Asset-Liability. So, Asset= $15,000+ $4,000= 3. $19,000 User: If liabilities room $4,000 and owner"s equity is $15,000, assets room thedesigningfairy.com: Equity= Asset-Liability. So, Asset= $15,000+ $4,000= 3. $19,000 User: Assets and liabilities room reported thedesigningfairy.com: If liabilities room $4,000 and owner"s equity is $15,000, assets space $19000 (More)
The journal entry to record the receipt that cash from credit transaction clients top top account would include (Points : 5) a debit come Cash and also a credit to Fees Income. A debit to Fees Income and also a credit transaction to Cash. A debit to Cash and a credit transaction to accounts Receivable. A debit to account Receivable and also a credit transaction to Cash.
The journal entry to document the receipt of cash from credit clients top top account would include a debit to Cash and a credit to accounts Receivable.
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