For each entry below make a correcting entry if necessary.
(a) The $50 cost of repairing a printer was charged to Computer equipment.
(b) The $5,500 cost of a major engine overhaul was debited to Repair expense. The overhaul is expected to increase the operating efficiency of the truck.
(c) $6,000 of stamp duty costs associated with the acquisition of land were debited to Legal expense.
(d) A $400 charge for transportation expenses on new equipment purchased was debited to Freight-in.

Question

Quizplus · Accepted Answer

The Answer of For each entry below make a correcting entry if necessary.
(a) The $50 cost of repairing a printer was charged to Computer equipment.
(b) The $5,500 cost of a major engine overhaul was debited to Repair expense. The overhaul is expected to increase the operating efficiency of the truck.
(c) $6,000 of stamp duty costs associated with the acquisition of land were debited to Legal expense.
(d) A $400 charge for transportation expenses on new equipment purchased was debited to Freight-in.

For Each Entry Below Make a Correcting Entry If Necessary