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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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Sun-Jun is the executive general manager of a U.S.-based multinational corporation. Marisol is a manager in a similar position b
Norma-Jean [14]

Answer: A. choosing an appropriate mode for entering a particular foreign country

Explanation:

The options to the question are:

A. choosing an appropriate mode for entering a particular foreign country

B. developing a business strategy

C. marketing a product or service

D. adhering to labor and environmental standards

E. maintaining healthy relations with the U.S. government.

From the question, we are told that Sun-Jun is the executive general manager of a U.S.-based multinational corporation while Marisol is a manager in a similar position but works for an American company that operates only in the U.S. and does not engage in international business.

Since Marisol's company does not engage in international business, while Sun-Jun works in a multinational corporation, this means that the business function will be most typically exclusive to Sun-Jun will be choosing an appropriate mode for entering a particular foreign country.

4 0
3 years ago
Grouper Corp. retires its $640000 face value bonds at 105 on January 1, following the payment of annual interest. The carrying v
AleksAgata [21]

Answer:

Explanation:

The journal entry is shown below:

Bonds payable A/c Dr $640,000

Premium on bonds payable A/c Dr $23,970

Loss on bonds redemption A/c $8,030

         To Cash A/c $672,000                     ($640,000 × 1.05)

(Being the redemption of bond is recorded and the remaining balance is debited to the Loss on bonds redemption account)

The Premium on bonds payable is computed below:

= Carrying value of the bonds - face value of the bond

= $663,970 - $640,000

= $23,970

4 0
3 years ago
On November 1, 2018, Aviation Training Corp. borrows $46,000 cash from Community Savings and Loan. Aviation Training signs a thr
satela [25.4K]

Answer and Explanation:

The journal entries are shown below:

1.  Cash $46,000

              To Note payable $46,000

(Being the issuance of the note is recorded)

2.  Interest expense ($46,000 × 6% × 2 months ÷ 12 months) $460

            To interest payable $460

(Being the interest expense is recorded)

3. Note payable $46,000

   Interest payable $460

   Interest expense ($46,000 × 6% × 1 months ÷ 12 months ) $230

              To cash $46,690

(Being the repayment of the note is recorded)

6 0
3 years ago
An insurance company monitors customer complaints. There are several possible problem categories including wrong bill sent, char
Taya2010 [7]

Answer:

Pareto Diagram

Explanation:

I think your question is missed of key information, allow me to add in and hope it will fit the original one.  

Please have a look at the attached photo.  

My answer:

The Pareto chart, named after Vilfredo Pareto, is a type of chart that consists of columns and lines in which the independent values are represented by lower-order columns and values. The cumulative sum is represented by a straight line.

The vertical vertical axis is used to measure the frequency of occurrence, but it can also be replaced to measure costs or a different unit of calculation depending on the purpose. The vertical vertical axis is used to measure the cumulative percentage of the total number of occurrences, the total cost or the sum of a unit of measurement depending on the purpose. Because values are arranged in descending order, the cumulative function will be a concave function

The purpose of the Pareto chart is to find out in a group of causes (often there are many), which are the most important causes.

So Pareto Diagram is the best determiner that each problem contributes to customer complaints.

Hope it will find you well.

3 0
3 years ago
A stock has an average expected return of 10.1 percent for the next year. The beta of the stock is 1.45. The T-Bill rate is 5.5%
Aleksandr [31]

Answer:

The right solution is "4.55%".

Explanation:

Given that,

Expected return,

= 10.1%

Risk-free rate,

= 3.5%

Beta,

= 1.45

Now,

The market risk premium will be:

⇒ Expected \ return=Risk-free \ rate+Beta\times (Market \ risk \ premium)

⇒ Market \ risk \ premium=\frac{Expected \ return-Risk -free \ rate}{Beta}

By putting the values, we get

⇒                                      =\frac{10.1-3.5}{1.45}

⇒                                      =\frac{6.6}{1.45}

⇒                                      =4.55 (%)

3 0
3 years ago
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