Telephone Expenses – NBC Institute

FA – MAY 2015 – L1 – SA – Q3 – Correction of Errors

Determine the journal entries to correct an error involving telephone and motor vehicle expenses.

Question

A draft financial statement of DS Enterprises revealed that an amount of N10,000 expended on repairs of telephone was recorded as motor vehicle expenses. State the entries to reverse this error.
A. Dr. Motor vehicle expenses account, Cr. Telephone expenses account
B. Dr. Telephone expenses account, Cr. Suspense account
C. Dr. Motor vehicle account, Cr. Suspense account
D. Dr. Telephone expenses account, Cr. Motor vehicle expenses account
E. Dr. Suspense account, Cr. Telephone expenses account

Answer

Find Related Questions by Tags, levels, etc.

Tags: Correction of Errors, Motor Vehicle, Telephone Expenses
Level: Level 1

Topic: Correction of errors
Series: MAY 2015

Question Tag: Telephone Expenses

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

FA – MAY 2015 – L1 – SA – Q3 – Correction of Errors

Determine the journal entries to correct an error involving telephone and motor vehicle expenses.

FA – MAY 2015 – L1 – SA – Q3 – Correction of Errors

Determine the journal entries to correct an error involving telephone and motor vehicle expenses.

Our offerings

Contact Info

Customer

Get In Touch

Question Tag: Telephone Expenses

Filter by Professional Bodies

Filter by Subject

Filter by Series

Filter by Topics

Filter by Levels

FA – MAY 2015 – L1 – SA – Q3 – Correction of Errors

Determine the journal entries to correct an error involving telephone and motor vehicle expenses.

You're reporting an error for "FA – MAY 2015 – L1 – SA – Q3 – Correction of Errors"

FA – MAY 2015 – L1 – SA – Q3 – Correction of Errors

Determine the journal entries to correct an error involving telephone and motor vehicle expenses.

You're reporting an error for "FA – MAY 2015 – L1 – SA – Q3 – Correction of Errors"

Our offerings

Contact Info

Customer

Get In Touch

admin