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    Notes 2

    Uploaded by

    karmaude

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Notes 2

    Uploaded by

    karmaude
    10 views13 pages

    Copyright

    © © All Rights Reserved

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    PDF, TXT or read online from Scribd

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    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    10 views13 pages

    Notes 2

    Uploaded by

    karmaude

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 13

    NI RE

    2020 2021 2020 2021


    .

    unadj N 120
    - 000 180
    , 000

    Errors :

    1. Ins . expense , over 6000 (6000) 6000 - >


    -
    counterbalanced

    N1 over
    ,
    I

    2 . Rent revenue
    ,
    over (10,000) 10000 (10, 000) -

    NI
    ,
    over

    .
    3 Salaries exp , under

    should

    op
    i
    pense
    e
    SINGLE ENTRY
    Problem 4 : Receivable
    Financing

    1. Proceedsfr . Factoring 1400000

    Proceeds fr Loan
    . (2 .
    5Mx 98 % ) 2450000

    Total cash received 3850 000

    2 . A/R ,
    unassigned 1000 000

    A/R , assigned 5 000 008

    G 000 000

    6000

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