Record the Following Transactions for Grogan Corporation on the Dates

question 67

Essay

Record the following transactions for Grogan Corporation on the dates indicated.
1. On March 31, 2010, Grogan Corporation discovered that Depreciation Expense on factory equipment for the year ended December 31, 2009, had been recorded twice, for a total amount of $70,000 instead of the correct amount of $35,000.
2. On June 30, 2010, the company's internal auditors discovered that the April 2010 telephone bill for $2,500 had erroneously been charged to the Interest Expense account.
3. On August 14, 2010, cash dividends on preferred stock of $110,000 declared on July 1, 2010, were paid.

---

Definitions:

Palpate

To examine or feel (a part of the body) with the hands to discover physical characteristics or diagnose conditions.

Intercostal Spaces

The anatomical spaces between the ribs that contain muscles, nerves, and blood vessels, aiding in the process of breathing.

Exposing

The act of revealing or uncovering that is often used in medical contexts to refer to making a part of the body accessible for examination or treatment.

Tympanic Thermometer

A device used to measure body temperature quickly and accurately by detecting the infrared heat generated by the tympanic membrane of the ear.