Which of the following choices is not an example of a transferable skill

For each of the following errors, considered individually, indicate whether the error would cause the adjusted trial balance tot

Mice21 [21]

Answer:

a) The debit and credit side of the unadjusted trial balance would be increased by $ 5200.

b) The debit side would remain unchanged. No effect will be seen in the adjusted trial balance.

Explanation:

Effect of adjustments on adjusted Trial Balance.

This first entry would increase the wages expense and increase the liability account in the adjusted trial balance. Both debit and credit side would be increased by an equal amount.

b) This would decrease the Supplies account and increase the supplies expense in the unadjusted account. As both are on the debit side there would be no effect in the debit total.

Sr No Account Debit Credit

Original Entries

a. Wages Expense 5200

Accounts Payable 5200

b. Supplies Expense 1125

Supplies Account 1125

Correct Entries

a. Wages Expense 5200

Accrued Wages Account Payable 5200

b. Supplies Expense 1125

Supplies Account 1125

Difference:

a) We see that the first entry which was original passed the debit side is correct but the credit side would have been of accrued wages instead of accounts payable . This is to raise the amount by which wages are still outstanding by an amount 5200 at the end of the month.

This would decrease the accounts payable increase the wages payable . If the adjustment is not made it the salaries payable is understated .

b)This adjusting entry is correct.

5 0

3 years ago

Klivinich is a manufacturer of oral hygiene products. In addition to manufacturing and selling oral hygiene products, Klivinich

olga55 [171]

Answer:

Option C Achieve a competitive advantage

Explanation:

The reason is that anything brings an upperhand over the other competitors is competitive advantage. This might be due to product uniqueness or due to customer after sales services or anything in our product that the customer values more than the feature of other competitors. In this scenario, the advice of the K Company is valued by the customers and thats the reason they prefer its products because they give valuable advice with their products.

7 0

3 years ago

Maggie's Muffins, Inc., generated $2,000,000 in sales during 2015, and its year-end total assets were $1,400,000. Also, at year-

Ksenya-84 [330]

Answer:

The Sales will increase by $350,000 (2000,000 * 17.5%)

Explanation:

As we know that,

Self Supporting Growth Rate = Return on Equity * (1 - Payout Ratio) ...Eq1

Here

Payout ratio given is 50%

and

Return on Equity = 35% (Step 1)

By putting values in Eq1, we have:

Self Supporting Growth Rate = 35% * (1 - 50%)

Self Supporting Growth Rate = 17.5%

Which means that Sales will increase by $350,000 (2000,000 * 17.5%) which is 17.5%.

Step 1: Find Return on Equity

We know that:

Return on Equity = Net Income / Equity ..............Eq2

As we are not given value of Net Income we can not calculate the value of return on equity. But there is another way that we can calculate by simply multiplying and dividing by sales on Left hand side of the Eq2 equation.

Return on Equity = Net Income / Equity * Sales / Sales

By rearranging, we have:

Return on Equity = Net Income / Sales * Sales / Equity

Now here,

Net Income / Sales = Profit Margin

By putting this in the above equation, we have:

Return on Equity = Profit Margin * Sales / Equity

Here

Profit Margin is 7% given in the question.

Sales were $2,000,000

And

Equity is $400,000 (Step 2)

By putting values, we have:

Return on Equity = 7% * $2,000,000 / $400,000

Return on Equity = 35%

Step 2. Find Equity

Equity = Assets - Liabilities

Here,

Assets are worth $1,400,000

Liabilities are standing at $1,000,000 which includes only current liabilities because company doesn't have any long term borrowings

By putting the values, we have:

Equity = $1,400,000 - $1,000,000 = $400,000

Brother, don't forget to rate the answer.

5 0

3 years ago

The following information has been provided by Hale Company: • Advertising expense $8,800; • Interest expense $3,800; • Rent exp

klemol [59]

Answer:

Hale’s total expenses in calculating operating income is $57000

Explanation:

Operating income represents profit realized in carrying out Hale Company primary activities

Only expenses incurred in are considered in calculation of Hale`s Operating Income

Cost of Sales

Cost of goods sold 22200

Administration

Rent expenses for store 18000

Depreciation 8000

Selling and distribution expenses

Advertising 8800

Total Expenses 57000

6 0

4 years ago

If the Federal Reserve increases the reserve requirement, what effect will this have on the nation’s money supply? a. Increase t

dem82 [27]

The correct answer is c)

3 0

3 years ago