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Phantasy [73]
2 years ago
14

A $16 credit to sales was posted as a $160 credit. by what amount is the sales account in error?

Business
1 answer:
shepuryov [24]2 years ago
8 0

The sales account is in error by $144.

<h3>What is a credit to sales?</h3>
  • Payments for credit sales are made several days or weeks after a product is delivered.
  • Short-term credit arrangements are recorded as accounts receivable on a company's balance sheet, as opposed to cash payments.
  • The sales credit journal entry is the journal entry recorded in the company's sales journal when the company sells inventory to a third party on credit.
  • In this case, the debtor's or account receivable account is debited, and the sales account is credited.

To find the error:

  • Given - A $16 credit to sales was posted as a $160 credit.
  • So, 160 - 16 = $144.

Therefore, the sales account is in error by $144.

Know more about credit to sales here:

brainly.com/question/4068271

#SPJ4

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Answer:

$720000

Explanation:

This answer is quite sole and can be obtained by simple addition.

The answer to this question can be gotten by adding the MACR property of 8byears that has a cost of $430,000 with the purchases of new machines whose cost is $290000.

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Therefore Maple's total MACRs deduction for the year 2020 is equal to

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Thank you!

4 0
3 years ago
Prepare a check stub and check using the information given here:
posledela

Answer:

Answer is explained in the explanation section below.

Explanation:

Note: This question is incomplete and lacks the figure of check to which we have to fill the requirements. However, I have found a similar check on the internet and will be solving this question accordingly.

Date: 11/05/20xx   (Put current year in this, whatever it is)

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For: Supply of Goods.

Balance Brought  Forward = $ 11,060.00

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Others ,

Check dishonored plus fees= $ 150.00 + $25.00 = $175.00      

Sub Total= $ 14,369.00        ($14,544 - $175)

Amount issued to Naples Supply = $160.00

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Similarly,

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4 0
3 years ago
Yo Mamma Shops, Inc. can open a new store that will do an annual sales volume of $837,900. It will turn over its assets 1.9 time
solong [7]

Answer:

Net Income = $67,032

Return on assets = 0.152 = 15.2%

Explanation:

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Net Income =Profit Margin x Net sales

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Net Income = $67,032

Asset Turnover = Net Sales / Average total assets

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Return on Assets = Net Income / Average total Assets

Return on Assets = $67,032 / $441,000

Return on Assets = 0.152 = 15.2%

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