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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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2 years ago
When managers delegate work, three transfers occur. the three transfers are responsibility, authority, and _____?
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3 years ago
At the beginning of the month, you owned $8,000 of General Dynamics, $7,000 of Starbucks, and $5,000 of Nike. The monthly return
guajiro [1.7K]

Answer:

= $406.6

Explanation:

To calculate return of portfolio we first calculate weight of each asset

this can be done by finding total investment and then dividing each asset by total investment.

Total investment = 8000 + 7000 + 5000 = $20,000

General Dynamics     8000/20000 = 0.4 = W1

Starbucks                    7000/20000 = 0.35 = W2

Nike                             5000/20000 = 0.25 = W3

Now for portfolio return we can use the formula

P(r) = W1 * (Return on W1 asset) + W2 * (Return on W2 asset) + W3 * (Return on W3 asset)

So,

P(r) = 0.4 * (0.0680) + 0.35 * (-0.0152) + 0.25 * (-0.0062)

This gives us

Total Return % = 0.02033 or 2.033%

Simply multiply this cumulative weight to total portfolio worth

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Hope that helps.

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3 years ago
The decisions you make with your money is called what?
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3 years ago
Read 2 more answers
Let x be per capita income in thousands of dollars. Let y be the number of medical doctors per 10,000 residents. Six small citie
MAVERICK [17]

Answer:

The percentage of variation esplained by the model is given by the determination coefficient, on this case:

R^2 = 0.934^2 =0.872

And we have 87.2% of the variation explained by the linear model given.

\hat y = 5.756(8.5) -36.895=12.031

And we have 12.031 doctors per 10000 residents.

Explanation:

Assuming the following dataset:

x                 y

8.6           9.6

9.3           18.5

10.1          20.9

8.0           10.2

8.3           11.4

8.7            13.1

Assuming this question: "The data has a correlation coefficient of r = 0.934. Calculate the regression line for this  data. What percentage ofvariation is explained by the regression line? Predict the number of doctors per 10,000 residents in a town with a per capita income of $8500."

We want a linear model like this:

y = mx +b

Where m represent the slope and b the intercept for the linear model. And we cna find the slope and b with the following formulas:

m = \frac{n \sum xy - \sum x \sum y}{n \sum x^2 -(\sum x)^2}

b = \frac{\sum y}{n} -m \frac{\sum x}{n}

And from the dataset we have the following values:

n= 6, \sum x =53, \sum y = 83.7 , \sum xy = 755.89, \sum x^2 = 471.04

And replacing into the equation for m we got:

m =\frac{6(755.89) - (53)(83.7)}{6(471.04) -(53)^2}=5.756

And the intercept:

b = \frac{83.7}{6}-36.895 5.756 \frac{53}{6}=-36.895

And then the linear model is given by:

\hat y = 5.756 x -36.895

We can find the estimation replacing x = 8.5 into the linear model and we got:

\hat y = 5.756(8.5) -36.895=12.031

And we have 12.031 doctors per 10000 residents.

The percentage of variation esplained by the model is given by the determination coefficient, on this case:

R^2 = 0.934^2 =0.872

And we have 87.2% of the variation explained by the linear model given.

4 0
3 years ago
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