1. For each item above, describe how a correction would be made, either by giving a correcting journal entry or by describing how a posting error would be corrected in the ledger.
2. Prepare the trial balance for Kala’s Kabinet Konnection after the corrections are made.
Each of the above accounts has a normal balance in the ledger of Kala’s Kabinet Konnection at December 31, 2017. An examination of the ledger and journal reveals the following errors:
a. Cash received from a customer on account was debited for $570 and was credited for the same amount. The actual collection was for $750.
b. The purchase of a computer monitor on account for $350 was recorded as a debit to Supplies for $350 and a credit to for $350.
c. Services were performed on account for a client for $890. was debited for $890 and Fees Income was credited for $89.
d. A debit posting to Salaries Expense of $900 was omitted.
e. A payment on account for $206 was credited to Cash for $206 and credited to for $260.
f. The withdrawal of $600 cash for Kat Kala’s personal use was debited to Salaries Expense for $600 and credited to Cash for $600.
Enjoy 24/7 customer support for any queries or concerns you have.
Phone: +1 213 3772458
Email: support@gradeessays.com