Section numbers with their corresponding page numbers
Answer:
The correct answer is letter "A": concurrent .
Explanation:
Concurrent control is adopted to regulate ongoing activities in an organization so that they can meet the company's standards. This type of control is chosen to ensure that the output will have the results expected. It implies measuring the quality of the processes at a certain point in time to determine to continue with them or not.
I would say false because 'personal' is in the name. Your work doesn't really need to know the exact details (might depend on the business tho).
Answer:
Prepare a single-step income statement for the year ended December 31, 2020
Explanation:
SUNLAND CORPORATION
Inconme statement
For the year endend December 2020
Revenue
Net Sales 2.425.800
Interes Revenue 38.200
Total Revenue 2.464.000
Expenses
Cost Of goods 1.458.200
Administrative expenses 212.600
Selling xpenses 282.000
Interes expense 46.400
Tax rate 139.440
Expenses 2.138.640
Net income 325.360
Shares issued 70210
Earning p/share 4,63
Answer:
A. Reversals entry
1. Dr Cash 900
Cr Equipment 900
Correct entry
Dr Wages and salaries 900
Cr Cash 900
B.
2. Dr Cash 5850
Dr Service revenue 650
Cr Account payable $6,500
3. Dr Accounts payable 360
Cr Equipment 360
Explanation:
A. To Correct the errors by reversing the incorrect entry and Preparation of the correct entry.
Reversals entry
1. Dr Cash 900
Cr Equipment 900
Correct entry
Dr Wages and salaries 900
Cr Cash 900
B. To Correct the errors without reversing the incorrect entry
2. Dr Cash 5850
($6500-650)
Dr Service revenue 650
Cr Account payable $6,500
3. Dr Accounts payable 360
(510-150)
Cr Equipment 360
