A $150 debit to office equipment was entered into the account as a $150 credit. This error caused the trial balance to be out of balance by <u>300</u>.
A trial balance is a list of all the general ledger bills contained in the ledger of a business. This listing will incorporate the call of every nominal ledger account and the fee of that nominal ledger stability. Every nominal ledger account will preserve either debit stability or credit stability.
A trial balance includes a listing of all popular ledger account totals. each account needs to include an account quantity, a description of the account, and its very last debit/credit score balance. Further, it ought to nation the final date of the accounting length for which the record is created.
The cause of a trial balance is to make sure that every entry made into an employer's well-known ledger is properly balanced. A trial balance lists the finishing stability in each popular ledger account. The total dollar amount of the debits and credits in each accounting access are purported to match.
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Answer:
C. It allows people to buy, sell, and trade goods efficiently
Answer:
See explanation section
Explanation:
See the image to get the appropriate answer
Answer:
Option D: $21,800 Unfavorable
Explanation:
Direct Material Price Variance = Actual Cost of Direct Materials Purchased – Actual Quantity of Direct Materials Purchased at Standard Price
If,
Actual Cost of Direct Materials Purchased > Actual Quantity of Direct Materials Purchased at Standard Price = Unfavorable Variance
Actual Cost of Direct Materials Purchased < Actual Quantity of Direct Materials Purchased at Standard Price = Favorable Variance
Working
Direct Material Price Variance = $249,000 – (142,000 Kg × $1.6 per Kg)
Direct Material Price Variance = $249,000 – $227,000
Direct Material Price Variance = $21,800
As per decision rule stated above, Parallel Enterprises has an Unfavorable Direct Material Price Variance of $21,800
Answer:
The current values for BEp and margin of safety before the proposed changes are:
BEP units: 7,800
in dollars: $ 358,800
Margin of safety:
2,200 units or $ 101,200 of sales
Explanation:
The break even pont is the level of salesthat makes the operating income equal to zero. the margin of safety is the amount above this level at curernt sales.
Contribution per unit: $23
Fixed Cost $179,400
179,400 / 23 = 7,800
In dollars: 7,800 units x $46 each = $ 358,800
Margin of safety:
10,000 - 7,800 = 2,200
in dollars 460,000 - 358,800 = 101,200