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elixir [45]
3 years ago
10

When the trial balance extracted from the books of Keman Enterprises at the year-end failed to balance, the difference was place

d in a Suspense account. Identify the amount that would have been placed in suspense as a result of each of the following errors; GH₵ 2,400 pre-paid insurance has been brought forward from the previous year as a credit balance.
A. Dr 4,800
B. None
C. Cr 2,400
D. Dr. 1,500​
Business
1 answer:
Ugo [173]3 years ago
8 0

Answer:

The answer is option (A) Dr 4,800

Explanation:

Solution

From the given question, the prepaid insurance normally is having a debit  balance.

When it is brought forward to next year, this GH₵ 2,400 has to be cancelled once by debiting to suspense account.

Also. it want 2400 to credit the balance in prepaid insurance ledger, it need or require to be credited and debited to suspense account with 2400 balance.

Now, this combined debit to suspense account will result to 4800 (2400 +2400).

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Suppose Cook Plus manufactures cast iron skillets. One model is a​ 10-inch skillet that sells for $ 24. Cook Plus projects sales
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Production= 750 units

Explanation:

Giving the following information:

Cook Plus projects sales of 675 ​10-inch skillets per month.

Cook Plus has 60 ​10-inch skillets in inventory at the beginning of July but wants to have an ending inventory equal to 20​% of the next​ month's sales.

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4 0
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Proponents of rational expectations argued that the sacrifice ratio:______.a. could be high because people might adjust their ex
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Answer:

b. could be low because people might adjust their expectations quickly if they found anti-inflation policy credible

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