1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
scoray [572]
3 years ago
9

The accourtant for Mega Stores, Inc, should have recorded the following correct entry Jan 15 Notes Receivable 243 Equipment 243h

e misunderstood the transaction and recorded an incorrect entry, Which of the following w rong entries pertaining to this transaction could have been detected as erroneous when using a trial balance? A) Jan 15 Equipment 243 Notes Receivable 243B) Jan 15 Notes Payable 243 Cash 243C) Jan 15 Notes Receivable 243 Equipment 234 D) Jan 15 Notes Receivable 234 Equipment 234
Business
1 answer:
notsponge [240]3 years ago
4 0

Answer:

C) Jan 15 Notes Receivable 243 Equipment 234

Explanation:

The trial balance is a summary of all the balances of the various transactions used by an entity. It is expected that the credits should equal the debits in a trial balance as the saying goes, "for every credit, there must be a corresponding debit"

A review of the options given shows that option C) Jan 15 Notes Receivable 243 Equipment 234 would show an error detectible by a trial balance as the credit does not correspond to the debit.

You might be interested in
Baldwin Corp. ended the year carrying $21,580,000 worth of inventory. Had they sold their entire inventory at their current pric
IceJOKER [234]

Explanation:

The given question cannot be answered as little information is provided.  However it shall be an amount if $21,580,000. For, complete analysis we need to understand  the current prices and various other variable costs. We know that the contribution margin is the Sale Price (SP) minus the Variable Cost (VC). It is the number of sales per unit that will be available to service fixed expenses and to generate the profit.

Therefore, to determine a more detailed answers more inputs are needed.  

8 0
2 years ago
: Typically required on ________ loans when the down payment is less than ______% and loan-to-value ratio is in excess of ____%.
BARSIC [14]

Answer:

Mortgage, 20%, 80%

Explanation:

Typically required on Mortgage loans when the down payment is less than 20% and loan-to-value ratio is in excess of 80%. Loans with higher LTVs don't conform to Fannie Mae/Freddie Mac guidelines, so a lender may require PMI to offset the risk.

3 0
3 years ago
hich of these is the definition of client business risk? a. Risks affecting the business operations and potential outcomes of an
Leno4ka [110]

Answer:

Option A Risks affecting the business operations and potential outcomes of an organization's activities.

Explanation:

The reason is that the business risk are those risks that has potential to increase the cost of the company or decrease the revenue of the organization. So here the misstatement will not increase the cost of the organization and the only risk that increase the cost or decrease the revenues is the poor performance of the organization's activities and operations. So the right option which doesn't talks about misstatements is option A.

6 0
3 years ago
During January, Luxury Cruise Lines incurs employee salaries of $1.2 million. Withholdings in January are $91,800 for the employ
Zarrin [17]

Answer: Please see below for answer

Explanation:

Journal for employee salary and withholdings

Particulars                           Debit                  Credit

Salaries Expense               $1, 200,000

FICA tax Payable                                              $91,800

Federal Income Tax Withholding Payable      $180,000

State Income Tax Withholding Payable           $75,000

Health Insurance Payable                                  $12,000

Salaries Payable                                               $841,200

Journal to record employer provided fringe benefits for January

Particulars                                  Debit                                  Credit

Salaries expense(fringe benefits)$ 36,000

Accounts payable to blue cross shield                           $36,000

Journal to record employer payroll taxes

Particulars                           Debit                     Credit

Payroll Tax Expense              $166, 200

FICA tax Payable                                                       $91,800

unemployment tax payable                                        $74,400

6 0
3 years ago
Kogler Corporation's relevant range of activity is 7,000 units to 11,000 units. When it produces and sells 9,000 units, its aver
blsea [12.9K]

Answer:

$12.45

Explanation:

Calculation to determine what the contribution margin per unit sold is closest to:

First step is to calculate the Variable cost per unit using this formula

Variable cost per unit = Direct materials per unit + Direct labor per unit + Variable manufacturing overhead per unit + Sales commissions per unit + Variable administrative expense per unit

Let plug in the formula

Variable cost per unit = $5.15 + $5.30 + $1.95 + $0.60 + $0.55

Variable cost per unit = $13.55

Now let determine the Contribution margin per unit using this formula

Contribution margin per unit = Selling price per unit - Variable cost per unit

Let plug in the formula

Contribution margin per unit = $26.00 - $13.55

Contribution margin per unit = $12.45

Therefore the contribution margin per unit sold is closest to:$12.45

4 0
2 years ago
Other questions:
  • Lease A does not contain a bargain purchase option, but the lease term is equal to 90% of the estimated economic life of the lea
    10·1 answer
  • Firefly Inc. sold land for $225,000 cash. The land had been purchased five years earlier for $275,000. The loss on the sale was
    14·1 answer
  • Which of the following statements is/are true regarding a simulation model? It makes decision-making easier. It explicitly incor
    11·1 answer
  • Robert bought 10 shares of Apex Company for $18 each and later sold all of them at $17 each. This transaction resulted in what t
    14·2 answers
  • Jacob Long, the controller of Arvada Corporation, is trying to prepare a sales budget for the coming year. The income statements
    6·1 answer
  • After identifying and performing the preliminary classification of an organization’s information assets, the analysis phase move
    14·1 answer
  • Hushovd Iron Works has collected the following data for its Thunderbolt line of​ products: Direct materials standard 15 pounds p
    7·1 answer
  • When is it better to file married filing separately?
    14·1 answer
  • On January 1, 2018, ABC purchased a commercial truck for $48,000 and uses the straight-line depreciation method. The truck has a
    14·1 answer
  • Which examples demonstrate tasks commonly performed in Construction jobs? Check all that apply.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!