Make an adjusting enrty for the following this is, Accounting Basics

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Make an adjusting enrty for the following this is

Make an adjusting enrty for the following. This is unadjusted TB

Land 360,050 (DR)
Gain on land appraisal 80,000 (CR)
Sales 634,400 (CR)
AR 97,080 (DR)

The info we have is: land balance includes(a) half used foroperations,(b) hakf held for futre plant. The balance recorded at its appraised value of 360,050 contains 80,000 excess over cost attributable to land used for operations.
The book keeper incorrectly credited sales for a recipt onaccount for 4000.This error had not been corrected on Dec 31 (BSdate)

Not sure what will be the adjusting entry.

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Accounting Basics: Make an adjusting enrty for the following this is

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Accounting Basics: Make an adjusting enrty for the following this is

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Recent Questions Asked Accounting Basics

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Accounting Basics: Make an adjusting enrty for the following this is

Reference No:- TGS0598322

Recent Questions Asked Accounting Basics

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