Answer:
<u>a debit to Office Equipment and a credit to Utilities expense</u>
Explanation:
The correct journal entry should've been:
Office Equipment A/C Dr.
To Cash A/C
(Being purchase of telephone equipment recorded)
The wrong entry passed being,
Utilities Expenses A/C Dr.
To Cash A/C
Thus, the rectification/correcting entry should be:
Office Equipment A/C Dr.
To Utilities Expense A/C
(Being correcting entry recorded)
Telephone equipment is used for official purpose and thus an office expenditure. Expenses incurred are debited.
Similarly, Utilities Expenses was wrongly debited so crediting it cancels out the wrong effect.
Answer:
The correct answer is Business analysis.
Explanation:
Business analysis is the set of methods and techniques used to work as a link between the stackeholders, in order to understand the structure, policies and operations of an organization and recommend solutions that allow the organization to achieve its objectives (IIBA: International Institute of Business Analysis).
Business analysis involves understanding how organizations work to carry out their purposes, and defining the capabilities that an organization requires to provide products and services to external stakeholders. It includes the definition of the objectives of the organization, how those objectives are connected to specific objectives, which determine the lines of action that an organization has to take to achieve those goals and objectives, and define how the different organizational units and stakeholders inside and outside that organization interacts.
A business will employ seed capital to fund a specific project or activity. It is the capital raised to start working on a new product or business idea.
<h3>What kind of capital is invested in a business?</h3>
The money a company has on hand to cover both its ongoing expenses and potential future expansion is known as capital. Working capital, debt, equity, and trade capital are the four main types of financial resources.
<h3>What kind of business venture capital is that?</h3>
Venture Capital (VC) is a term used to describe funding given by investors to start-up or small businesses that have a high potential for growth. A venture capital fund is a type of private equity funded by institutional and private investors, including investment banks, insurance providers, and pension funds.
To know more about seed capital visit:-
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Answer: $42,000
Explanation:
Using a straight line Depreciation method means that the Equipment will be depreciated uniformly throughout it's life. i.e by the same amount.
Depreciation = (Cost - Residual Value) / Useful Life
= (483,000 - 63,000) / 10
= 420,000/10
= $42,000
The annual Depreciation amount for Year 1 - 3 is $42,000 and will be the same as long as the Equipment is in service.