Chat with us, powered by LiveChat Ilana Mathers, CPA, was hired by Interactive Compu - Writemia

Ilana Mathers, CPA, was hired by Interactive Compu

Ilana Mathers, CPA, was hired by Interactive Computer Installations to prepare its financial statements for March 2017. Using all the ledger balances in the owner s records, Ilana put together the following trial balance. Ilana then reviewed the records and found the following items: 1. The purchase on account of equipment for $5,100 on March 1 was recorded as a debit to Supplies and a credit to Accounts Payable, both for $5,200. 2. March rent of $2,050 was paid on March 2. The company recorded this as a debit to Miscellaneous Expense and a credit to Cash, both for $2,050. 3. Cash of $1,735 was received from a customer on account. It was recorded as a debit to Cash and a credit to Service Revenue, both for $1,735. 4. A payment of a $575 account payable was entered as a debit to Cash and a credit to Accounts Receivable, both for $575. 5. The first salary payment made in March was for $3,000, which included $750 of salaries payable on February 28. The payment was recorded as a debit to Salaries Payable of $3,000 and a credit to Cash of $3,000. (No reversing entries were made on March 1.) 6. The owner, Maurice Hubert, paid himself $1,800 and recorded this as salary expense. 7. The depreciation expense for the month of March has not been recorded. All of the company s equipment is expected to have a five year useful life. Instructions (a) Prepare an analysis of any errors and show (1) The incorrect entry, (2) The correct entry, and (3) The correcting en

Do you need an answer to this or any other questions?

About Writemia

We are a professional paper writing website. If you have searched a question and bumped into our website just know you are in the right place to get help in your coursework. We offer HIGH QUALITY & PLAGIARISM FREE Papers.

How It Works

To make an Order you only need to click on “Place Order” and we will direct you to our Order Page. Fill Our Order Form with all your assignment instructions. Select your deadline and pay for your paper. You will get it few hours before your set deadline.

Are there Discounts?

All new clients are eligible for 20% off in their first Order. Our payment method is safe and secure.

Hire a tutor today CLICK HERE to make your first order