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Mandarinka [93]
3 years ago
10

Assume instead that the equipment was disposed of in 2022 and the original error was discovered in 2023 after the 2022 financial

statements were issued. Prepare the correcting entry in 2023.
Business
1 answer:
Ganezh [65]3 years ago
7 0

Answer:

No journal entry is required

Explanation:

As if we assume that the disposal of equipment is done in the year 2022 but the original error was discovered in the year 2023 after issuing the 2022 financial statements

Based on the above information, the correct entry for the year 2023 is that no journal entry is required for this transaction and the same is to be considered

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An investment, which is worth 26,800 dollars and has an expected return of 4.28 percent, is expected to pay fixed annual cash fl
Dennis_Churaev [7]

Answer:

Present Value =  $22,663.69

Explanation:

<em>The present value of a sum expected in the future is the worth today given an opportunity cost interest rate. In another words ,it is amount receivable today that would make the investor to be indifferent between the amount receivable today and the future sum.</em>

The present value of a lump sum can be worked out as follows:

PV = FV × (1+r)^(-n)

PV - Present value - ?

FV - Future value - 26,800

r- Interest rate per period - 4.28%

n- number of periods- 4

PV = 26,800 × (1.0428)^(-4)=22,663.69

PV =  $22,663.69

7 0
3 years ago
Define ATS and describe its use.. Why would large companies<br> use an ATS ?
elena55 [62]

Answer:

An applicant tracking system (ATS) is a human resources software that acts as a database for job applicants.

7 0
1 year ago
At project initiation: Select one: a. Few cost reduction opportunities exist and the cost of each change is large b. Few cost re
algol [13]

Answer:D. Many cost reduction opportunities exist and cost of reduction is low

Explanation:

Since the project has not commence the firm has lots of options to choose from and since the practical works has not started it's cheaper to substitute one method for another.

8 0
3 years ago
Every decision you make in a computer program involves evaluating one or more _____ expression(s).
fenix001 [56]

Answer:

Boolean expression.

Explanation:

Boolean algebra provides the operations and the rules for working with the set {0, 1}. In computer science, a Boolean expression is an expression in a programing language that produces a Boolean value when evaluated i.e. one of true or false.

Each Boolean expression represents a Boolean function. The values of this function are obtained by substituting 0 and 1 for the variables in the expression.

Are used mostly with while loops, and conditional statements and can be contrasted with arithmetic expressions which are expressions that evaluated to a number.

These expressions are made up of the three logical operators (AND, OR, NOT), the relational operator (> >= < = = <>) and functions that return true or false.

4 0
3 years ago
Galactic Inc. is considering an investment in new equipment that will be used to manufacture a smartphone. The phone is expected
Stella [2.4K]

Answer:

24%

Explanation:

The computation of the average rate of return is shown below;

As we know that

The Average rate of return = Net income ÷ Average investment

where,

Net income is

= (Selling price per unit - totat cost per unit) × additional units sales

= ($212 - $200) × $4,500 units

= $54,000

And, the average investment is

= (cost price + equipment) ÷ 2

= ($418,500 + $31,500) ÷ 2

= $225,000

So, the average rate of return is

= $54,000 ÷ $225,000 × 100

= 24%

4 0
3 years ago
Read 2 more answers
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