Record the Following Transactions for Quik Corporation on the Dates

question 88

Essay

Record the following transactions for Quik Corporation on the dates indicated.
1. On March 31, 2018, Quik Corporation discovered that Depreciation Expense on equipment for the year ended December 31, 2017, had been recorded twice, for a total amount of $84,000 instead of the correct amount of $42,000.
2. On June 30, 2018, the company's internal auditors discovered that the April 2018 telephone bill for $2,400 had erroneously been charged to the Interest Expense account.
3. On August 14, 2018, cash dividends on preferred stock of $150,000 declared on July 1, 2018, were paid.

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Definitions:

Maintenance Cost

The expense incurred to keep an item in good condition and working order.

EHR System

Electronic Health Records System; digital version of patients' paper charts, making information available instantly and securely to authorized users.

Full-Time Provider

A healthcare professional who is employed or engaged to offer medical services for the standard full-work-week duration, typically considered to be at least 40 hours.

Electronic Scheduler

A digital tool used for planning, organizing, and managing appointments, tasks, or events.