Answer:
Letter b is correct. Misappropriate the incoming check related to returned goods and deposit the check in a bank account other than the company's.
Explanation:
A pay-and-return scheme is a scheme where an employee intentionally defrays a payment amount from a vendor, increasing that expense and reimbursing the excess amount of that payment. It can also be performed on a dual payment scheme to a vendor, and after the employee reports the error to the vendor and gets a check back, he can refund the amount.
Answer:
d. $4,000 credit to common stock
Explanation:
The journal entry is shown below:
Since the company issued 400 shares for $10 per share
So, the journal entry is
Cash Dr $4,000
To common stock $4,000
(Being the issuance of the common stock is recorded)
here the cash is debited as it increased the assets and credited the common stock as it also increased the equity account
The justification for a company initially recording prepaid rent in either an income statement or balance sheet account is that a<u>t the end of each year, the</u><u> account balances </u><u>are revised so that they accurately represent the c</u><u>urrent situation.</u>
This is further explained below.
<h3>What is
an income statement?</h3>
Generally, When a business first records its prepaid rent, it should do so in either an account on its income statement or one on its balance sheet.
The reason for this is because, at the end of each year, the balances of these accounts should be revised so that they more accurately reflect the situation at the moment.
In conclusion, An income statement, also known as a profit and loss account, is one of the financial statements that a business maintains.
It details the revenues and costs that the firm incurred during a certain time period. It describes the process through which the revenues are converted into the company's income or profit after taxes.
Read more about income statements,
brainly.com/question/28035395
#SPJ1
<u></u>
Answer:
The expected value of the investment is $3,100
Explanation:
In order to calculate the expected value of the investment we would have to make the following calculation:
The expected value is the summation of the (event * probability of happening that event).
Therefore, The expected value of the investment = ($5,000*0.20) + ($3,000* 0.50) + ($,2000* 0.30)
The expected value of the investment = $1,000 + $1,500 + 600
The expected value of the investment= $3,100
The expected value of the investment is $3,100
Answer:
$604,035
Explanation:
The computation of the direct materials purchases budget is shown below:-
Total Wax Required 490,625 Pounds
(785,000 × 10 ÷ 16)
Add: Ending Inventory 125,00 Pounds
Total Units Available 503125 Pounds
Less: Beginning Inventory 16,000 Pounds
Total Pounds to be Purchased 487,125 Pounds
Unit Price $1.24 per Pounds
Total Direct Materials Purchased $604,035
(487,125 × $1.24)
