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Alona [7]
3 years ago
5

A journal entry for a $75 payment for Rent expense was posted as a debit to Salary expense and a credit to Cash. This error will

cause which of the following conditions on the trial balance?
A. The sum of the credits will equal the sum of the debits.

B. The sum of the debits will exceed the sum of the credits by $75.

C. The sum of the credits will exceed the sum of the debits by $150.

D. The sum of the debits will exceed the sum of the credits by $150.
Business
1 answer:
Illusion [34]3 years ago
3 0

Answer: The correct answer is a). The sum of the debits will equal the sum of the credits.

Explanation: When a journal entry is posted as same amount to both the debit and credit it balances up in the trial balance.

In the same vein, irrespective of the error in the ledger raised and posted in the trial balance, the sum will be equal on both the debit side and the credit side.

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Emil Company expects that its asset will be more useful during early years of its life than during later years. In addition, the
liq [111]

Answer: sum of the years digits

double decling balance

Explanation:

Sum-of-the-years'-digits is a method that is used in calculating the depreciation of an asset's depreciation.

In this method, the expected life of the asset is taken and then added together

to each year's digit.

For example, if an asset was believed that it would last for four years, then it should be noted that the sum of the years' digits would then be gotten by adding: 4 + 3 + 2 + 1 = 10.

6 0
3 years ago
Vandelay Industries' VP of support wants an automated way to notify the support team when an unresolved case has been open for o
Zina [86]

Answer:

Escalation rules

Explanation:

Escalation rules are provisions in a software that allows it to reroute a case that meets certain criteria such as number of hours it stays open and unresolved.

Escalation rules are used on software Salesforce CRM package to escalate cases that need attention.

In the given instance where the Vandelay Industries' VP of support wants an automated way to notify the support team when an unresolved case has been open for over six hours, escalation rules can be used to alert support managers.

6 0
3 years ago
Brahma Supply Company uses a periodic inventory system. During September, the following transactions and events occurred.
Temka [501]

Answer:

Date         Account titles & Explanation          Debit     Credit

Sep 04     Purchases (70 backpacks*$50)    $3,500

                        Accounts payable                                    $3,500

Sep 06     Accounts payable                           $300

                         Purchase return and allowances            $300

Sept 09   Accounts receivable                        $1,260

               (15 backpacks*$84)

                          Sales                                                         $1,260

Sept 13    Accounts payable                              $3,200

               (64 backpacks*$50)

                       Purchase discount (3,200*2%)                  $64

                        Cash (3,200*98%)                                      $3,136

4 0
3 years ago
If you get a personal loan, and the bank asks for something to guarantee the loan, the bank is asking for what?
Licemer1 [7]
The answer will be =Down payment
8 0
4 years ago
Read 2 more answers
When a consumer has evaluated alternatives in the purchase decision process and selected one, he still must determine from whom
hammer [34]

Answer:

The correct answer is when to buy.

Explanation:

When a consumer has checked all the alternatives and has made the purchase decision of what to buy, he still needs to decide from whom to buy and at what time or when to buy. This is because the price of assets or goods keeps changing with the passage of time. The change in price depends on market situations at that time.

There are a number of factors that affect the price level in the market. For instance,

  1. Income level
  2. Business cycle
  3. Interest rates

Changes in these factors cause a change in the price of goods and services and other assets.

3 0
3 years ago
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