1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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

You might be interested in
If an investor buys enough stocks, he or she can, through diversification, eliminate all of the market risk inherent in owning s
dimulka [17.4K]

Answer:

The given statement is True.

If an investor buys enough stocks, he or she can, through diversification, eliminate all of the market risk inherent in owning stocks, but as a general rule it will not be possible to eliminate all market risk.

5 0
2 years ago
Define securitization.​
Harman [31]
The word secure is a protected sounding word so it’s the process of securing something from a business to protecting something from terrorist BASICALLY protecting‍♂️
8 0
2 years ago
On September 1, 2021, Custom Shirts Inc. "entered into a lease agreement appropriately classified as an operating lease". The le
Savatey [412]

Answer: Please refer to the explanation section

Explanation:

The question is not clear in terms of when is the financial year end, we only its 2021. We will assume the financial year started in January 2021 and ended December 2021

Operational Lease is an agreement where the lessor (owner of the asset)  allows the lessee (user of the asset) to only use the asset without the transfer of ownership. Ownership of the asset is not transferred to the lessee/ user of the asset. lease Payments/ Rental payments are considered as expenses and are recognize in the income statement.

Custom Shirts Inc entered into a Lease agreement on the 1st of September 2021. assuming the financial year ends on December 2021, the expense Recognized in the Income statement for the year ended December 2021 will

$ 24000 x 4 months/12 months =$ 8000

8 0
2 years ago
With an ATM checking account, you are typically charged a fee if you use teller services (walk-in or drive-through).
romanna [79]

<u>Answer: </u>

With an ATM checking account, you are typically charged a fee if you use teller services is a false statement.

<u>Explanation: </u>

  • The ATM facility has been rolled out in order to dispense convenience to the users of cashless transactions or of withdrawing cash whenever need.
  • This service is not charged as long as there are not any extra facilities demanded like that of international transactions.
  • Charging a fee for using an ATM would decrease the number of its users drastically.
5 0
2 years ago
Diversity initiatives do NOT include
MrRa [10]

Answer:

D. At-will employment

Explanation:

Don't be fooled! At-will employment actually refers to two things:

at-will termination, meaning an employer can fire you for any reason (other than illegal)

and at-will quitting, meaning the employee can quit at any time, for any reason.

An example of this would be a boss firing an employee for wearing a gray shirt to work, which is the boss's least favorite color. It's messed up, but under at-will employment, it can be done. Moments later, another employee leaves without warning or notice, and under the same rule, it can be done.

In contrast with the other options, D has nothing to do with diversity.

8 0
2 years ago
Other questions:
  • A purposeful systematic process for collecting information on the important work related aspects of a job is called job descript
    9·1 answer
  • How does an organization specify the aspects of performance that are relevant to the organization? select one:
    12·1 answer
  • A 13-year bond of a firm in severe financial distress has a coupon rate of 10% and sells for $930. The firm is currently renegot
    5·1 answer
  • You have been called in as a consultant for the purpose of advising what sales volume quotas for Brand A mouth wash should be es
    7·1 answer
  • if average demand for invenrory item is 200 units per day lead time is three days and safety stock is 1-- units the reorder poin
    9·1 answer
  • Jack has a ticket to see Bo Bice for which he paid $30 yesterday. He takes an unpaid day off from work to get ready for the conc
    8·1 answer
  • A salesperson shows his broker an offer for one of his listings that has a good faith deposit in the form of a promissory note.
    7·1 answer
  • Because of the identity equation that relates to net exports, the in U.S. net exports is matched by in U.S. net capital outflow.
    15·1 answer
  • A campus deli serves 200 customers over its busy lunch period from 11:00 a.m. to 1:00 p.m. A quick count of the number of custom
    7·1 answer
  • Demand per hour for gasoline at a local station is normally distributed with a mean of 875 gallons and std deviation of 55 gallo
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!