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algol [13]
2 years ago
5

Rice Corp. noticed that a check written by the company for utility expense in the amount of $1,000 was incorrectly recorded by t

he bank as $1,100. What entry needs to be recorded to correct this error
Business
1 answer:
Xelga [282]2 years ago
7 0

No entry is required on the company's books.

<h3>What is a journal entry?</h3>

The date, the amount to be credited and debited, a brief description of the transaction, and the accounts involved are all included in each journal entry along with other information pertinent to a single business transaction. Depending on the business, it could include a list of the impacted subsidiaries, tax information, and other details.

Journal entries are of six main types, that is:

  • Opening Entries
  • Transfer Entries
  • Closing Entries
  • Adjusting Entries
  • Compound Entries
  • Reversing Entries

To know more about Adjusting Entries refer to: brainly.com/question/13449237

#SPJ4

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Tinker's cost of goods sold in the year of sale (2019) was $790,000 and 2018 cost of goods sold was $810,000. The inventory at t
gladu [14]

Answer:

91 days

Explanation:

Here, we are to calculate the average number of days it will take to sell its inventory in 2019.

We proceed mathematically as follows;

Inventory turnover=COGS/Average inventory

Average inventory=(192,000 + 202,000)/2=$197,000

hence inventory turnover=(790,000/197,000)= 4.01

hence average days to sell=365/4.01 =91 days (approx)

6 0
3 years ago
Wilma leads a task force charged with restructuring the order-processing system in the organization. The task force is composed
OLga [1]

Answer:

B. task-oriented leadership style .

Explanation:

Task-oriented leadership style -

It refers to the type of leader, who only target on the goal or project .

This type of leader is referred to as the task - oriented leadership style .

As from the very term, the person is only inclined towards his or her task

There type of leaders assign the tasks very clearly and making sure all the works are done on time with proper efficiency and accuracy .

These leader are very consult about the deadline and hence define all the task to get over before the deadline .

There type of leaders are very well organised and clear about the task .

Hence, from the given scenario of the question,

The correct answer is B. task-oriented leadership style.

6 0
3 years ago
How can trade-offs and opportunity costs be measured?
vovikov84 [41]

Answer:

see below

Explanation:

The terms opportunity cost and trade-off are, in most cases, used interchangeably.  Opportunity cost occurs due to scarcity of resources. Individuals have to make choices among the options available to them. The fortified option is the trade-off or the opportunity cost.

Opportunity cost is measured by obtaining the value of the next best alternative. In other words, the cost of the most valuable sacrificed option is the opportunity cost. For example, if a student has $50, he can purchase a meal valued at $45, watch a movie valued at $40 or buy a book for $ 47. assuming he opts to buy the book, the meal becomes the opportunity cost because it represents the next best alternative.

4 0
3 years ago
What benefits will the promotion of consumption and sales revenue bring to businesses?
dmitriy555 [2]

Answer:

Bankrupt rawr dollars pesos yen won yuan

6 0
2 years ago
The economists at jet consulting consider campbell's soup to be an inferior good. during a recession, when the income in the eco
Elenna [48]

Economists at jet consulting would expect the demand curve for campbell's soup to "shift to the right", causing the equilibrium price to "increase" and the equilibrium quantity to "increase".


The demand curve is a graphical portrayal of the connection between the cost of a good or service and the amount requested for a given time frame. In a typical representation, the cost will show up on the left vertical pivot, the amount requested on the horizontal axis.  

At the point when the quantity of cash demanded increases, the cost of cash (interest rates) likewise increments, and causes the demand curve to increase and shift to the right.

6 0
3 years ago
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