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
lbvjy [14]
3 years ago
5

A compound transaction was recorded as follows: debit Equipment, $5,000; debit Cash, $1500; credit Accounts Payable, $3,500. Thi

s error would cause __________.
Business
1 answer:
butalik [34]3 years ago
7 0
The trial balance would disagree. It seems that the cash should be credited instead as the situation seems to me that the cash is being expended to pay for the equipment, and the remaining 3500 is liabilities. Therefore, the error should be corrected.
You might be interested in
expensing the cost of copy paper when the paper is acquired is an example materiality. industry practices. conservatism. expense
sergejj [24]

Expensing the cost of copy paper when the paper is acquired is an example of .Cost constraint.

<h3>What is Cost constraint?</h3>

A cost constraint in accounting occurs when it is excessively expensive to report specific information in the financial statements. The applicable accounting standards permit a reporting entity to forego the associated reporting where doing so would be prohibitively expensive. The purpose of enabling the cost constraint is to prevent firms from paying excessive expenditures to fulfill their financial reporting duties, especially when compared to the benefit received by readers of the financial statements.

Only certain requirements for financial reporting that are mentioned in the accounting standards are subject to the cost limitation. In all other instances, regardless of the underlying cost, financial information must be reported.

To learn more about Cost constraint from the given link:

brainly.com/question/21270823

#SPJ4

4 0
2 years ago
Which statement best describes why it’s difficult to sell a home during a recession? :)
Fed [463]
Demands greatly increases
8 0
4 years ago
Read 2 more answers
What is the goal of retailers?
Scilla [17]

Answer:

the retailer’s main function is to provide merchandise in the right quality, quantity, price, time, and at the right place. The first task that a retailer has to perform is to identify the consumer needs and wants.

Explanation:

8 0
4 years ago
Read 2 more answers
Recent regulation such as the Riegle-Neal Act of 1994 has removed some of the federal banking laws that formerly constrained pro
PIT_PIT [208]

Answer:

The correct answer is diversify geographically.

Explanation:

Diversification is one of the strategies most used by companies when it comes to expanding their market horizon. In this sense, diversifying is synonymous with expansion, growth, investment and openness.

In general, companies that are committed to diversification seek new market niches or commercial possibilities. This may be motivated by several reasons, ranging from corporate growth opportunities to the implementation of internal restructuring plans.

7 0
3 years ago
Ivanhoe Company issued $1520000 of 6%, 5-year bonds at 95, which pay interest annually. Assuming straight-line amortization, wha
Mashutka [201]

Answer:

the journal entry to record bond issuance:

Dr Cash 1,444,000

Dr Discount on bonds payable 76,000

    Cr Bonds payable 1,520,000

amortization of discount on bonds payable = $76,000 / 5 = $15,000

coupon payment = $91,200

total interest expense per year = $106,200

total interest expense for the 5 year period = $106,200 x 5 years = <u>$531,000</u>

<u />

6 0
3 years ago
Other questions:
  • A person works as a cashier in a major supermarket. She sells vegetables to
    15·2 answers
  • Toxemia Salsa Corporation manufactures five flavors of salsa. Last year, Toxemia generated net operating income of $40,000. The
    15·1 answer
  • _____ is a subset of supply chain management that focuses on tactics rather than on strategy. Answer _____ is a subset of supply
    12·1 answer
  • James is an employee of RVC Corporation. He works from home and regularly communicates with employees at the central office via
    6·1 answer
  • If a team leader wanted to help a team such as Jason’s get through the forming stage of team development, he or she should take
    14·1 answer
  • "An officer of MNO Corporation wishes to sell stock under Rule 144. MNO has 50,000,000 shares outstanding. The previous weeks' t
    7·1 answer
  • Is there a conflict between maximizing shareholder wealth and never paying bribes when doing business abroad? If so, how might y
    12·1 answer
  • The best way to start the budgeting process is to:
    6·1 answer
  • First month plus a security deposit is an example of this operating expense.
    9·1 answer
  • An inflationary expenditure gap is the amount by which:.
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!