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seraphim [82]
3 years ago
7

On March 8, Monty Candy Company bought supplies on account from the Arcade Fire Company for $664. Monty Candy Company incorrectl

y debited Equipment for $600 and credited Accounts Payable for $600. The entries have been posted to the ledger. the correcting entry should be _________.
Business
1 answer:
GalinKa [24]3 years ago
3 0

Answer:

Correcting Entry

March 8         Dr.       Cr.

Supplies     $664

Equipment             $600

Account Payable   $64

Explanation:

Entry Should be

March 8         Dr.       Cr.

Supplies     $664

Account Payable  $664

Entry Recorded

March 8         Dr.       Cr.

Equipment  $600

Account Payable  $600

Firs error is amount recorded as $600 rather $664 and the second is account of equipment debited rather the account of Supplies Inventory.

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Jill Angel holds a $200,000 portfolio consisting of the following stocks. The portfolio's beta is 0.875.
ss7ja [257]

The options provided are incorrect. The correct answer is given below

Answer:

New Portfolio beta = 1.125

Explanation:

The portfolio beta is the function of the weighted average of the individual stock betas that form up the portfolio. The formula to calculate the beta of a portfolio is as follows,

Portfolio beta = wA * Beta of A + wB * Beta of B +  ....  +  wN * Beta of N

Where,

  • w represents the weight of each stock in the portfolio

New Portfolio beta = 50000/200000 * 0.8  +  50000/200000 * 1  +  

50000/200000 * 1.2  +  50000/200000 * 1.5

New Portfolio beta = 1.125

6 0
2 years ago
Campbell Soup is making significant inroads into Japan's $500 million soup market as time-pressed homemakers place a premium on
vodka [1.7K]

Answer:

The correct answer is "benefit segmentation"

Explanation:

The Benefit segmentation refers to the segment of cutomers classify by the perception of a specific good or service, in other words, it shows the benefits that a customer receives by segments.

This type of segmentation is utilized in the industry of cosmetics and clothing.

3 0
2 years ago
On March 1st, Kalka Company borrowed $5,000 in the form of a three-month note payable with an annual interest rate of 6 percent.
STatiana [176]

Answer:

Option (A) is correct.

Explanation:

Given that,

On March 1st,

Kalka Company borrowed = $5,000 for a three-month note payable

Annual interest rate = 6 percent

Period = one month

Interest expense accrued=5000\times0.06\times\frac{1}{12}

                                                 = 5000 × 0.06 × 0.083

                                                 = $24.9 or $25

As Kalka Company borrowed $5000 on March 1st and accrued interest expenses on March 31st is $25.

7 0
2 years ago
Jill scott is an accountant with cameron and associates, a law firm in downtown seattle. the firm maintains a checking account w
Nitella [24]
The drawee is a lawful and investment term used to define the party that has been focused by the depositor to pay a definite amount of money to the individual presenting the payment. A classic instance is if you are encashing a paycheck. The bank that cashes your check is the drawee, so in this case Southern Rock is the Bank is the drawee and the employer is the drawer.
6 0
2 years ago
Repair shops often use a deceptive practice known as bait and switch.<br> a. True <br> b. False
Kryger [21]

Answer:

Explanation:

true

3 0
2 years ago
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