Answer:
a. To increase Land - Debit
b. To decrease Cash - Credit
c. To increase Fees Earned (Revenues) - Credit
d. To increase Office Expense - Debit
e. To decrease Unearned Revenue - Debit
f. To decrease Prepaid Rent - Credit
g. To increase Notes Payable - Credit
h. To decrease Accounts Receivable - Credit
i. To increase Common Stock - Credit
j. To increase Store Equipment - Debit
Explanation:
Debit gives details of spending, sum owed , amount to balance which is usually recorded to the left side of an account entry book while credit gives the details of income, amount earned or made on sale, spending cut and revenue and is usually placed to the right hand column of an account entry.
Answer:
Option A Risks affecting the business operations and potential outcomes of an organization's activities.
Explanation:
The reason is that the business risk are those risks that has potential to increase the cost of the company or decrease the revenue of the organization. So here the misstatement will not increase the cost of the organization and the only risk that increase the cost or decrease the revenues is the poor performance of the organization's activities and operations. So the right option which doesn't talks about misstatements is option A.
Answer:
Alpha Moose Transporters's retained earnings breakpoint is B. $1,655,556
Explanation:
Addition to retained earnings = $745,000
Weight of equity = 45%
Retained earnings breakeven = $745,000 / 45%
= $1,655,556.
Retained earnings breakeven is $1,655,556.
Answer:
600 Units
Explanation:
Given:
Opening balance of inventory = 0 units
Ending balance of the month = 800 units
Finished units during the month = 1,200 units
Completed work in progress = 75% = 0.75
Ending work in process inventory = ?
Computation of ending work in process inventory:
Ending work in process inventory = Ending balance of the month × Completed work in progress
= 800 × 0.75
= 600 units
