Answer:
a. The Debit column is correctly stated.
b. The Credit column is understated by $17,300 ($8,650 * 2).
c. The Automobiles account balance is correctly stated in the trial balance.
d. The Accounts Payable account balance is understated in the trial balance by $17,300 ($8,650 * 2).
e. If the Debit column total of the trial balance is $200,000 before correcting the error, the total of the Credit column before correction is $182,700.
Explanation:
This mistake is an Error of Commission. It is a problem of arithmetical accuracy, for example, posting to the wrong side of one ledger account. In this case, the Accounts Payable should have been credited with the amount of $8,650. As an arithmetic error, it can only be corrected by doubling the affected amount on the Credit side of the Accounts Payable account.
Answer:
commodity manager
Explanation:
Minerals usually trade in commodity markets along with other natural resources and primary products (e.g. sugar, iron ore, soy bean). A commodity manager is in charge of creating an efficient supply chain that guarantees an uninterrupted supply and the lowest possible purchase cost. A challenge most commodity managers face is the risk associated with commodity suppliers, and they must implement strategies that reduce it.