Answer:
The correction entries shall be as follows,
1. Service Revenue Dr. $ 920
Customer Account Cr. $ 920
2. Store Purchases Dr. $1,180
Accounts Payable Dr.$340
Supplies Account Cr. $ 1,520
Explanation:
1. The service revenue account was overstated and customer account understated. therefore by debiting service revenue and by crediting customer account, both have been restated at their actual position.
2. The accounts payable was overstated by $ 340 (1,180-1520).it is rectified by debiting with $ 340. Whereas the supplies account was wrongly debited therefore that impact of $1,520 reversed and actual store purchases debited with actual amount of $1,180
The formula for finding the net present value is -C0 + [C1 / (1 + r)] + [C1 / (1 + r)²] + [C1 / (1 + r)³].
<h3>What is the net present value?</h3>
The net present value is a capital budgeting method. Net present value is the present value of after-tax cash flows from an investment less the amount invested.
Only projects with a positive net present value should be accepted. A project with a negative net present value should not be chosen because it isn't profitable. When choosing between positive net present value projects, choose the project with the highest net present value first because it is the most profitable.
An advantage of the net present value method of capital budgeting is that it considers the times value of money. A disadvantage of net present value is that it is difficult to estimate the accurate discount rate.
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D. department
The vice president of marketing develops the department-level strategy.
What are the relative merits of three trade agreements and alliances? WTO governs international trade. NAFTA is with North America. EU is Europe's trading bloc.
Trade agreements are essentially pacts between various countries that allow of trade between them. The trade is constructed and based on setting up tax, tariff and treaty agreements that allow for the participants to have investments within the trade. Two or more countries participate on the terms of their trade agreements which allows them to trade with one another.
