Answer:
b. $180 increase to Cash and a $180 decrease to Utility Expense
Explanation:
Since it is given that the correct amount for utilities is $790 and it is wrongly entered as a $970 that means utility expense is excess debited for $180
So to adjust the bank reconciliation the journal entry is
Cash $180
To Utilities $180
(being the adjusted entry is recorded)
The $180 is come from
= $970 - $790
= $180
So it increased the cash and decreased the expenses so the recording is done accordingly
Answer:
D) The husband could not make any type of contribution, whereas the wife could make a tax deductible contribution.
Explanation:
The husband is already participating in his employer's pension plan, so he cannot make tax deductible contributions to an IRA account. On the other hand, the wife is allowed to make tax deductible contributions herself. The husband would have to make after tax contributions similar to a Roth IRA account.
A credit report is a detailed report of an individual's credit history.
Answer:
$42,060
Explanation:
Walberg Associates cost of the inventory acquired from the estate will be:
Cost of inventory
Price 39,100
Transportation 2,000
Shipment Insurance 310
Cleaning and refurbishing 650
Total cost of inventory 42,060