© 2000 south-western educational publishing journal page with posting completed lesson 5-4, page...
TRANSCRIPT
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
JOURNAL PAGE WITH POSTING COMPLETEDJOURNAL PAGE WITH POSTING COMPLETED
Lesson 5-4, page 112Lesson 5-4, page 112
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
MEMORANDUM FOR A CORRECTING ENTRYMEMORANDUM FOR A CORRECTING ENTRY
Lesson 5-4, page 116Lesson 5-4, page 116
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
JOURNAL ENTRY TO RECORD A CORRECTING ENTRYJOURNAL ENTRY TO RECORD A CORRECTING ENTRY
Lesson 5-4, page 116Lesson 5-4, page 116
November 13. Discovered that a payment of cash for advertising in October was journalized and posted in error as a debit to Miscellaneous Expense instead of Advertising Expense, $120.00. Memorandum No. 45.
1. Which accounts are affected?
Advertising Expense
Miscellaneous Expense
4. How is each amount entered in the accounts?
Expense accounts increase on the debit side.
Expense accounts decrease on the credit side.
3. How is each classification changed?
Expenses are increased.
Expenses are decreased.
2. How is each account classified?
Advertising Expense is an expense account.
Miscellaneous Expense is an expense account. Miscellaneous Expense
Advertising Expense
DebitNormal Balance
DebitNormal Balance
120.00
120.00
© 2000 South-Western© 2000 South-WesternEducational PublishingEducational Publishing
3. Credit Miscellaneous Expense.
JOURNAL ENTRY TO RECORD A CORRECTING ENTRYJOURNAL ENTRY TO RECORD A CORRECTING ENTRY
1. Write the date.
4. Write the source document number.
2. Debit Advertising Expense.
1
3
42
Lesson 5-4, page 116Lesson 5-4, page 116