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tatyana61 [14]
3 years ago
13

The ledger account balances for Vaughn Manufacturing at December 31, 2022 are as follows:

Business
2 answers:
Varvara68 [4.7K]3 years ago
7 0

Answer:

Total debits balance = 8466

Explanation:

Cash = 480

Account receivable = 570

prepaid insurance = 96

Supplies = 270

Equipment = 4500

Salaries and wages expense = 1900

Rent expense = 650

Total debit balance on the trial balance = 8466 at dec 31,2022 because all above should be debit balance.

sergiy2304 [10]3 years ago
6 0

Answer: The balance in the debit side of the trial balance is $8,466

Explanation:

Trial balance as at 31st December, 2022

Account Titles. Dr.

$

Cash. 480

Account Receivable. 570

Prepaid insurance. 96

Equipment. 4,500

Supplies. 270

Salaries & Wages Expense. 1,900

Rent Expense. 650

--------------

8,466

------------------

The following Account are credited in the trial balance

Account Titles. Cr

$

Accumulated Depreciation Equipment 630

Account Payable. 394

Common Stock. 1,310

Service Revenue. 3,100

Retained Earning. 1,600

-----------------

7,034

--------------------

It is discovered that, The credit side do not agree with the debit side, the credit side is originally short by $1,432 . This is due to an error such as error in casting in either the book of original entry or the ledger account, omission of some ledger balances including the cash book when extracting the trial balance,some item not posted from the books of original entry to the ledger,ledger balances entered on the wrong side of the trial balance, figures misplaced or transposed in account. Therefore ,a Suspense Account should be prepared to show the difference in the trial balance of $1432

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Salah’s net income for the year ended December 31, Year 2 was $191,000. Information from Salah’s comparative balance sheets is g
krok68 [10]

Answer:

Cash Dividends - Year 2 =  $84400

Explanation:

The net income of the business is usually appropriated or used for two purposes at the end of the year. It is either used to pay dividends or is retained in the business and is added to the retained earnings or both.

Thus, to calculate the dividends paid by the business in a particular year, we can calculate the change in retained earnings and deduct it from the net income.

Change in retained earnings = Ending balance of retained earnings - Beginning balance of retained earnings

Change in retained earnings = 694000 - 587400

Change in retained earnings = $106600

Thus, out of the net income of $191000, $106600 were transferred to retained earnings. So, the amount of dividends paid for the year is,

Cash Dividends - Year 2 = 191000 - 106600  = $84400

7 0
3 years ago
Beginning inventory was $50,000. Inventory purchased during the year cost $75,000. Inventory on hand at year-end was $40,000. Co
marusya05 [52]

Answer:

The Cost of Goods Sold or COGS for the period was $85000

Explanation:

The cost of goods sold is the value or cost of inventory that has been sold off during the period. The Cost of Goods Sold of COGS can be calculated as follows,

COGS = Opening Inventory  +  Purchases  -  Closing Inventory

COGS = 50000  +  75000  -  40000

COGS = $85000

So, the Cost of Goods Sold or COGS for the period was $85000

5 0
3 years ago
Which of the following is not an example of a natural experiment an economist might use to evaluate a theory? a. Transit ridersh
Verdich [7]

Answer:

Example of not a natural experiment an economist might use to evaluate a theory is:

C. Here the Students in a microeconomics principles course are advised to play a game with their classmates to determine and evaluate what all decisions they make under certain adjusted circumstances.

Explanation:

Natural experiment : A natural experiment is referred to an observational and also an empirical study in which we get to study about the experimental and controllable varieties of variables. which can not het manipulated anywhere by the researchers.

Instead these experiments are allowed to affect the environment and the nature or the different factors which are not under control of our researchers. In contrast to the experimental values and all the natural experiments are even not controlled by the researchers but instead they also admire and obseve those experiments for their own studies.

So, the right option is:

C. Here the Students in a microeconomics principles course are advised to play a game with their classmates to determine and evaluate what all decisions they make under certain adjusted circumstances.

7 0
3 years ago
A 60-year old retiree is in a very low tax bracket. He has a low risk tolerance and wishes to make an investment that will provi
pickupchik [31]

Complete Question:

A 60-year old retiree is in a very low tax bracket. He has a low risk tolerance and wishes to make an investment that will provide income. Which is the BEST recommendation?

Group of answer choices.

A. Mid-cap common stock

B. Municipal bond

C. Bank CD

D. Treasure STRIPS

Answer:

C. Bank CD

Explanation:

In this scenario, a 60-year old retiree is in a very low tax bracket. He has a low risk tolerance and wishes to make an investment that will provide income. A Bank certificate of deposit (CD) is the best recommendation.

A bank certificate of deposit (CD) can be defined as a secured form of time-bound deposit and a special low-risk savings account, wherein money (lump-sum) are left with the bank for a specific period of time in exchange for an interest rate premium.

Generally, a certificate of deposit pays a higher interest rate to its holder than the regular savings account because the banks invest the money in a business.

<em>Additionally, the bank certificate of deposit is protected and insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.</em>

4 0
3 years ago
The Fashion Shoe Company operates a chain of women's shoe shops around the country. The shops carry many styles of shoes that ar
timofeeve [1]

The computation of the break-even point (in units) is given below:

Break-eventpoint = Fixed cost / contribution margin.

= Fixed cost / (selling price -  variable cost)

= $158,000/ ($20-%10)

= $158,000/ $10

= %15,800 units.

The break-even point (in units) for Shop 48 is 15,800 units. It can be computed by dividing the amount of fixed cost by the amount of per unit contribution margin. And the per unit contribution margin can be computed by deducting the variable cost per unit from the selling price per unit.

The break-even point is the point at which total costs equal total sales, and there is no loss or profit for a small business.

Learn more about the break-even point at

brainly.com/question/9212451

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4 0
2 years ago
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