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elixir [45]
3 years ago
12

A journal entry for a​ $210 payment to purchase office supplies was erroneously recorded as a debit to Office Supplies for​ $550

and a credit to Cash for​ $210. Which of the following statements correctly states the effect of the error on the trial​ balance?
A) The sum of the credits will exceed the sum of the debits by $310.

B) The sum of the debits will exceed the sum of the credits by $290.

C) The sum of the debits will exceed the sum of the credits by $310.

D) The sum of the debits will exceed the sum of the credits by $600.
Business
1 answer:
Ludmilka [50]3 years ago
3 0

Answer:

The sum of the debits will exceed the sum of the credits by $340. (None of the options given).

Explanation:

The right posting on the payment of $210 for the purchase office supplies would be;

Debit office supplies account $210

Credit Cash account $210

However since the debit to office supplies was $550 which is 340 (i.e $550 - $210) more than what the amount to have been posted is, it means that the sum of the debits will exceed the sum of the credits by $340.

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Answer:

$26,200

Explanation:

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We now determine the basis that Gredy takes for the share of Eadie stock

Basis = Original basis of qualified property + Current gain

Basis = $21,833 + $4,367

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Thus,  basis that Gredy takes for the share of Eadie stock is $26,200

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Which life insurance settlement option guarantees payments for the lifetime of the recipient, but also specifies a guaranteed pe
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Answer:

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8 0
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you have your first meeting with the main client contact next week. It is very important that the meeting is productive and goes
Evgesh-ka [11]

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2:The meeting should not take much time: The time take by the speaker to make the client understand the facts should be less and precise. It should take much time.

3: The facts and data should be crisp and clear: The data and analysis part should be made clear before presenting it to client  to avoid any confusion during the meeting.

4: Meeting  Etiquette should be followed properly: The ground level manners and etiquette must be followed during the meeting.

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3 years ago
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Answer:

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Answer:

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