1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
How are payroll taxes different from personal income taxes?
marta [7]
D) They pay for specific social programs rather than general government activities.
5 0
2 years ago
Why is competition ineffective as a conflict resolution strategy?
mihalych1998 [28]
When some one or something solves  the problem
3 0
3 years ago
Riverbed Corp bought equipment on January 1, 2022. The equipment cost $460000 and had an expected salvage value of $65000. The l
balandron [24]

Answer:

Book value= $302,000

Explanation:

Giving the following information:

Purchase price= $460,000

Salvage value= $65,000

Useful life= 5 years

<u>First, we need to calculate the annual depreciation.</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (460,000 - 65,000) / 5

Annual depreciation= $79,000

<u>Now, the accumulated depreciation after 2 full years:</u>

Accumulated depreciation= 79,000*2= $158,000

<u>Finally, the book value:</u>

Book value= purchase price - accumulated depreciation

Book value= 460,000 - 158,000

Book value= $302,000

7 0
2 years ago
A taxpayer sells a warehouse for a recognized gain. Depreciation had been properly claimed on the property based on the straight
Vikentia [17]

Answer:

No, it will be different. There will not be any depreciation recapture for an individual taxpayer if the recognized profit is under $1250 with respect to the straight-line depreciation method and the service after 1986. However, a depreciation recapture will be treated from the recognized profit for a C corporation for sales that is approximately $1250 or more.

Explanation:

There will not be any depreciation recapture for an individual taxpayer if the recognized profit is under $1250 with respect to the straight-line depreciation method and the service after 1986. However, a depreciation recapture will be treated from the recognized profit for a C corporation for sales that is approximately $1250 or more.

5 0
2 years ago
We have the following CAPM E(Ri) = .06 + .08 Beta; a) If Stock X has a beta of 2, what is the required rate of return? b) If we
sergiy2304 [10]

Answer:

Please kindly go through explanation for the answers.

Explanation:

A)The required return if Beta is 2 = 0.06+0.08*2 =0.22

B)Here Rf = 0.06

Expected return of the portfolio = 0.4*22% + 0.6*6% =12.4%

since beta of Rf = 0,the expected beta = 0.4*2 = 0.8

C)Beta is nothing but systematic risk of a security in comparing to the market. In this case stock z having beta of 1.5 which is less than beta of stockX i.e 2. and expected return is 15%.so stockz is offering lower return at lower risk. If the investor is a risk averse its a good buy.

D) let W be portion of stock X.

Then w*2 + (1-w)*0 = 1.5

W = 1.5/2 =0.75

to construct a portfolio which has a beta of 1.5 we have to invest 75% of our money in stock X and remaining in risk free asset

E) expected return = 0.22*.75 +0.25*0.06 = 16.5% + 1.5% = 18%

4 0
3 years ago
Other questions:
  • Glenda is in the ninth grade, and she loves to write and share events that take place around her. She wants to become a journali
    6·1 answer
  • For each of the users of accounting​ information, identify whether the user is an external decision maker​ (E) or an internal de
    11·1 answer
  • Mnemonics are a tool to aid which of the following?
    9·1 answer
  • Orson takes harrison's car without harrison's permission and without just cause. orson has probably committed the tort of conver
    8·1 answer
  • While different natural resources and the theory of comparative advantage can explain many trade patterns, they cannot explain a
    15·1 answer
  • When budgeting for your immediate needs you should divide them into what two categories of expenses
    8·1 answer
  • Which of the following is the best example of an ethical statement?
    11·1 answer
  • coolidge Company owes $1,000 for merchandise inventory purchased from Ross Company during April. The amount owed is now past-due
    6·1 answer
  • Describe 'the market place' ​
    14·1 answer
  • Debra notes that Theo Chocolate has started holding its own operations to the same IMO standards of fair trade to which it holds
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!