At Year-End,Henry Laundry Service Noted the Following Errors in Its

question 89

Essay

At year-end,Henry Laundry Service noted the following errors in its trial balance:
1.It understated the total debits to the Cash account by $500 when computing the account balance.
2.A credit sale for $311 was recorded as a credit to the revenue account,but the offsetting debit was not posted.
3.A cash payment to a creditor for $2,600 was never recorded.
4.The $680 balance of the Prepaid Insurance account was listed in the credit column of the trial balance.
5.A $24,900 van purchase was recorded as a $24,090 debit to Equipment and a $24,090 credit to Notes Payable.
6.A purchase of office supplies for $150 was recorded as a debit to Office Equipment.The offsetting credit entry was correct.
7.An additional investment of $4,000 by the stockholder was recorded as a debit to Common Stock and as a credit to Cash.
8.The cash payment of the $510 utility bill for December was recorded (but not paid)twice.
9.The revenue account balance of $79,817 was listed on the trial balance as $97,817.
10.A $1,000 cash dividend was recorded as a $100 debit to Dividends and $100 credit to Cash.
Using the form below,indicate whether each error would cause the trial balance to be out of balance,the amount of any imbalance,and whether a correcting journal entry is required.

Assess how insurable interest affects the ability to insure goods against damage or loss.

Recognize the role of classical conditioning in everyday experiences, including taste aversions, phobias, and advertising.

Identify seminal studies and researchers in the field of classical conditioning like Pavlov's dog, Watson and Rayner's Little Albert, and Garcia's taste aversion.

Grasp the concept of operant conditioning, including reinforcement (positive and negative), punishment, and the law of effect.

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Definitions:

Oral Stage

The first phase in Freud's psychosexual development theory, where a child's pleasure centers are focused on the mouth area.

Phallic Stage

One of Freud's psychosexual development stages, occurring from about age 3 to 6, where the libido's focus is on the genital area.

Latency Stage

Refers to a period in Freud's psychosexual development theory, occurring approximately between the ages of 5 and puberty, characterized by a decrease in sexual interests and an increase in developing social and intellectual skills.

Tabula Rasa

The idea that individuals are born without built-in mental content, and all knowledge comes from experience or perception.