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givi [52]
3 years ago
9

Your study partner is having trouble getting total debits to equal total credits in the trial balance. Trial Balance Accounts De

bit Credit Cash $ 7,300 Accounts Receivable $ 2,100 Equipment 10,400 Accounts Payable 3,900 Deferred Revenue 1,100 Common Stock 11,000 Retained Earnings 3,900 Dividends 600 Service Revenue 4,500 Salaries Expense 3,200 Utilities Expense 800 Total $ 36,400 $ 12,400 Prepare a corrected trial balance by placing each account balance in the correct debit or credit column.

Business
1 answer:
katovenus [111]3 years ago
5 0

Answer:

We have a total Debit and credit amount of $24,400

Explanation

Attached herewith is the adjusted trial balance of the company. In preparation of trial balance, we must consider na nature of the accounts to be recorded. All assets account with normal balances should be posted as debits. All Liabilities and equities accounts with normal balances should be posted on credit side. Revenue is on credit side and all expenses on the other hand is posted on debit side.

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3 years ago
The level of liquid assets that should be invested in marketable securities depends on several factors. This includes all except
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Answer:

c.

Explanation:

Based on the information provided within the question it can be said that the exception of the answers provided are seasonal cash requirements. This refers to the amount of cash you or the company needs to pay for unique expenses during a specific season. Which is not a factor when deciding what should be invested in marketable securities.

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3 years ago
Now that you have identified Verdure Wellness Club's target market, you need to turn your attention to the buyer decision proces
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Answer: The answer is True.

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1. Need recognition phase, where the buyer recognizes that they have a need to fill.

2. Information search phase, where the buyer seeks information on the best options to meet their needs.

3. Alternative evaluation phase, where a buyer evaluates the alternative enterprises that can best meet their needs.

4. The purchasing phase, where a buyer makes the decision to purchase the product or service of the best alternative, based on the evaluation in phase 3.

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4 0
3 years ago
If an employer chooses a per diem method of substantiation for travel expenses,
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If an employer chooses a per diem method of substantiation for travel expenses, the meals and incidental expenses method requires actual cost records to substantiate lodging expenses.

Option E

<u>Explanation: </u>

The price of the meal and the additional expenses while travelling away from home for work purposes is deducted from an employee or self-employed person. The expense deduction generally requires the costs to be substantiated.

There has been, however, an optional form that prohibits receipts for these taxpayers.

The IRS releases Diem levels for different parts of the United States (see Notification 2015-63 on the subject of irs.gov). For just the intent of measuring a meal and an accessory deduction, taxpayers may use such per diem rates and will be required to prove it.

If an employer wants a method of proof of travel expenses by Diem, the meal and by-product procedure requires real cost records in order to prove accommodation expenses.

7 0
3 years ago
On January 1, 2021, Calloway Company leased a machine to Zone Corporation. The lease qualifies as a sales-type lease. Calloway p
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Answer:

DR Interest receivable                                  26,400

CR Interest revenue                                                       26,400

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6 0
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