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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.
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Acheson Corporation, which applies manufacturing overhead on the basis of machine-hours, has provided the following data for its
umka2103 [35]

Answer:

Estimated manufacturing overhead rate= $34.57 per machine hour.

Explanation:

Giving the following information:

Acheson Corporation applies manufacturing overhead based on machine-hours.

Estimated manufacturing overhead $ 157,300

Estimated machine-hours 4,550

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 157,300/ 4,550= $34.57 per machine hour.

4 0
3 years ago
Which of the following fees would likely by the highest
katrin2010 [14]
Please state these fees please?
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4 years ago
Brad, Scott, and Jake each contribute property to form BSJ Corporation. Brad contributes a building with a fair market value of
Talja [164]

Answer:

<em>The answer is $700,000</em>

Explanation:

<em>From the example given, we find the tax basis will each take in their respective BSJ stock</em>

<em>Contributions done partner wise         (All values in $)</em>

<em>Partner  Contribution Tax Share in Stock  % of Tax   Base Tax base in stock</em>

<em>Name                               Base</em>

<em>Brad         450000        100000         45%          17%       120689.7</em>

<em>Scott 100000         350000         45%          60%     422413.8</em>

<em>Jake 150000          130000         10%          22%     156896.6</em>

<em>                700000           580000                      100%     700000</em>

<em>Therefore, The Total Assets contributed will be equivalent to stock of BSJ issued = $ 700,000</em>

5 0
3 years ago
Corey receives some utility from consuming a frozen dinner (an inferior good) but would much rather purchase healthier food (a n
Korolek [52]

Answer:

The effect that causes Corey's quantity demanded of a frozen dinner to increase is known as income effect

Explanation:

Income effect refers to the change in consumption pattern or in the amount of the good consumed as a result of changes in the consumer's utility and purchasing power. Income effect can be positive or negative.

Here, Corey derives some utility from consuming a frozen dinner (an inferior good). Therefore, as the price increases, the income effect will induce Corey (the consumer) to purchase more.

8 0
4 years ago
Why are differentiation and low cost leadership strategies referred to as generic business strategies? they can be simultaneousl
kumpel [21]
<span>Differentiation and low cost leadership strategies are referred to as generic business strategies due to the fact that they can be used in basically any organization, regardless of the industry.</span>
7 0
4 years ago
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