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3 years ago

The return of merchandise was recorded as a debit to accounts payable and a credit to purchases. This error would cause

Business

1 answer:

elena-s [515]3 years ago

4 0

Answer:

D. None of the above

Explanation:

Proper double entry bookkeeping requires that there must always be an offsetting debit and credit for all entries made into the general ledger. To record accounts payable, the accountant credits accounts payable when the bill or invoice is received. The debit offset for this entry is typically to an expense account for the good or service that was purchased on credit. The debit could also be to an asset account if the item purchased was a capitalizable asset. When the bill is paid, the accountant debits accounts payable to decrease the liability balance. The offsetting credit is made to the cash account, which also decreases the cash balance.

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Which decision-making perspective assumes that consumers diligently gather information about purchases, carefully compare variou

Studentka2010 [4]

Answer:

The correct answer is rational decision making perspective.

Explanation:

The "rational model" or "absolute rationality" of decision-making consists of five phases:

Define the objective
Gather information
Identify the possible options
Evaluate alternatives
Experience the effects

However, making a decision is not just an exercise in rationality, an orderly and effective execution of a sequence of actions. In the practice of organizations, taking into account the importance of risks and limitations (resources, time, available information, etc.) within which the decision must be made, it is often not possible or convenient to explore all alternatives and evaluate all the consequences analytically. We can rely on the experience and judgment of the decision makers, who renounce to pursue an optimal solution for a simply satisfactory one. We speak in this case, using an expression created by Herbet Simon, of "limited rationality."

Obviously, in the practice of decision-making processes, there is always the possibility that we should return to an earlier stage or even that the process does not reach the end (that is, choose not to decide). In addition, in an organizational context there are always social actors that guide their actions according to strategies aimed at maintaining or developing their power of decision and influence. Therefore it is questionable that adherence to the rational model is always the best way to make decisions.

5 0

3 years ago

Hilton hotels' use of customer information software to identify the most profitable customers to direct its services to is an ex

Ksju [112]

Find its target market.......

8 0

3 years ago

Whats the distance between -6,-5 and 2,0

Shkiper50 [21]

The answer to the question

3 0

3 years ago

Applying the direct write-off method to account for uncollectibles Shawna Valley is an attorney in Los Angeles. Valley uses the

Trava [24]

Answer:

The question is:

a. Journalize Valley's written off of the uncollectible receivables

b. What is the Account Receivables of Valley at May 31st 2018.

-----------

The answer is:

31 May 2018

Dr Bad Debt expenses 1,100

Cr Account Receivables 1,100

( to written off of the uncollectible receivables)

The balance of Account Receivables as at 31 May 2018: $24,900

Explanation:

a. Because direct written-off method is applied, the uncollectible amount is only recorded when it incurred rather than when it is foreseen. Bad debt expenses is debited and an offsetting credit is recorded straight into Account Receivables account ( instead of Provision for Uncollectible account).

b. The balance at end of May is calculated as:

Ending balance of April + Credit sales in May - Collection of credit sales in May - Uncollectibale amount recorded in May = 19,000 + 22,000 - 15,000 - 1,100 = $24,900.

5 0

3 years ago

When a company bills a customer for $700 for services rendered, the journal entry to record this transaction will include a $700

ExtremeBDS [4]

When there's a service rendered, the Company will not debit its service revenue, instead Account Receivable if on account or Cash if paid in cash is debited. Journal entry to record the transaction is as follows:

If on Account:
Debit: Account Receivable $700.00
Credit: Sales Revenue $700.00
<span>To record revenue for the service rendered
</span>
If Paid in Cash:
Debit: Cash $700.00
Credit: Sales Revenue $700.00
To record revenue for the service rendered

8 0

3 years ago