The bookkeeper for Brockton Industries prepared the following journal entries and posted the entries to the general ledger as indicated in the T accounts presented. Assume that the dollar amounts and the descriptions of the entries are correct.
Journal entries:
Required: If you assume that all journal entries have been recorded correctly, use the above information to:
(1) Identify the postings to the general ledger that were made incorrectly.
(2) Describe how the each incorrect posting should have been made.
Definitions:
Essential Human Freedoms
Fundamental rights considered to be the inherent entitlements of all human beings, such as freedom of speech, religion, and equality before the law.
American Neutrality
A foreign policy stance by which the United States has sought to avoid entanglement in the affairs and wars of other nations, notably during the early parts of both World Wars.
Expansionist Hopes
Aspirations or ambitions to expand a country's territory or influence.
Federal Government
The national government of a federal state, where powers are divided between the central government and constituent units, such as states or provinces.
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