For Each Entry Below Make a Correcting Entry If Necessary

question 200

Essay

For each entry below make a correcting entry if necessary. If the entry given is correct then state "No entry required."
(a) The $60 cost of repairing a printer was charged to Equipment.
(b) The $5000 cost of a major engine overhaul was debited to Maintenance and Repairs Expense. The overhaul is expected to increase the operating efficiency of the truck.
(c) The $6000 closing costs associated with the acquisition of land were debited to Miscellaneous Expense.
(d) A $500 charge for transportation expenses on new equipment purchased was debited to Freight-In.

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Definitions:

Personal Responsibility

The idea that individuals are accountable for their actions and well-being, including taking charge of their decisions and accepting the consequences.

Promptly

Done or performed without delay; in a quick and efficient manner.

Project Management Experience

Experience overseeing and directing projects from inception to completion, ensuring goals are met.

Indirect Method

A communicative strategy where the message is not delivered in a straightforward manner, often used to soften the impact of what is being said.