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  • As The Accountant For Jasper S Telemarketing Services You Discovered The

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    Taimour Hassan
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    As the accountant for Jasper's Telemarketing Services, you discovered five errors in the May 31 unadjusted trial balance: 1) Advertising expense was incorrectly debited and accounts receivable credited, 2) Computer equipment and accounts payable were incorrectly debited and credited for an office furniture purchase, 3) Cash was debited and telemarketing fees earned credited for cash received in advance, 4) Telephone expense included a delivery expense, and 5) Telemarketing fees earned was credited for interest revenue.

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    As the Accountant for Jasper s Telemarketing Services You Discovered The

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    As the accountant for Jasper's Telemarketing Services, you discovered five errors in the May 31 unadjusted trial balance: 1) Advertising expense was incorrectly debited and accounts receivable credited, 2) Computer equipment and accounts payable were incorrectly debited and credited for an office furniture purchase, 3) Cash was debited and telemarketing fees earned credited for cash received in advance, 4) Telephone expense included a delivery expense, and 5) Telemarketing fees earned was credited for interest revenue.

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    20 views1 page

    As The Accountant For Jasper S Telemarketing Services You Discovered The

    Uploaded by

    Taimour Hassan
    As the accountant for Jasper's Telemarketing Services, you discovered five errors in the May 31 unadjusted trial balance: 1) Advertising expense was incorrectly debited and accounts receivable credited, 2) Computer equipment and accounts payable were incorrectly debited and credited for an office furniture purchase, 3) Cash was debited and telemarketing fees earned credited for cash received in advance, 4) Telephone expense included a delivery expense, and 5) Telemarketing fees earned was credited for interest revenue.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    As the accountant for Jasper s Telemarketing Services

    you discovered the #4323


    As the accountant for Jasper's Telemarketing Services, you discovered the following errors in
    the May 31 unadjusted trial balance that require correction:a. Advertising Expense was debited
    and Accounts Receivable was credited on May 17 for $16,200 of repairs paid for by Jasper's.b.
    On May 18, Computer Equipment was debited and Accounts Payable was credited, each for
    $8,100 regarding the purchase of office furniture in exchange for a promissory note.c. On May
    28, Cash was debited and Telemarketing Fees Earned was credited for $15,000 cash received
    in advance from a client.d. The Telephone Expense account included $6,300 of delivery
    expense.e. The Telemarketing Fees Earned account was credited for $1,200 of interest
    revenue.Required Journalize the correcting entries required on May 31.Analysis Component:
    The error in (e) shows that an incorrect revenue account was credited. Since the net effect on
    the financial statements is nil after recording the correction, is it necessary to prepare a
    correcting entry for this type of error?View Solution:
    As the accountant for Jasper s Telemarketing Services you discovered the

    ANSWER
    http://paperinstant.com/downloads/as-the-accountant-for-jasper-s-telemarketing-services-you-
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