Answer: Puedes escribir en español?
Explanation: No hablo ingles
Answer:
Journal Entries on May 3:
a. Debit Prepaid Insurance $16,000
Credit Insurance Expense $16,000
To reverse the error.
Debit Insurance Expense $16,000
Credit Cash Account $16,000
To correct the error.
b. Debit Drawings $9,600
Credit Wages Expense $9,600
To correct the error.
Explanation:
a) Data:
1. Insurance expense credited to Prepaid Insurance, instead of Cash account = $16,000
2. Drawings by Brian Phillips, the owner of the business recorded as Wages Expense.
b) The journal can also be used to correct errors in posting transactions. The process can involve first reversing the error and then correcting it, as done with case (a). This will involve using two entries. It can also involve simply involve correcting the error without reversion, as done with case (b).
Answer:
The answer is: C) Bondholders have a senior claim on assets and income relative to stockholders.
Explanation:
A stock is a share in the ownership of a corporation, while a bond is a form of debt that the corporation issued promising to repay it at some point in the future (maturity date).
If the corporation goes bankrupt, bondholders have higher priority to claim any residual assets. Bondholders are paid interest regularly while stockholders may or may not receive dividend payments.
Hello There!
Hospice care is expensive because it is labor - intensive.
Hope This Helps You!
Good Luck :)
- Hannah ❤
Answer: TRUE
Explanation:Financial statements are compiled reports of an organisation's Financial inflow and outflow during a given period.of time, it can for a period of one year. Financial statements are sometimes done for the purpose of Auditing, for the purpose of controlling the inflow and outflow of funds.
Financial statements should note disclosures on long term liabilities,
information on authorization of new debt issues, sale of previously authorized issues, and retirement and refunding of debt during the year.