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GuDViN [60]
3 years ago
10

For each situation listed below, indicate the effect on the debit and credit column of the trial balance.a. Journal entry for sa

le on account was posted for $3,000 rather than $300. b. Cash balance was entered in credit column. Total column wasn't added correctly. c. Debits should have totaled $50,000 but accountant calculated $55,000. d. Revenue account balance entered in debit column rather than the credit column. d. Accounts Payable balance was entered in wrong column. Account had normal balance.
Business
1 answer:
Ray Of Light [21]3 years ago
5 0

Answer and Explanation:

The indication of the following transactions are as follows in the trail balance

Particulars          Debit                   Credit

a.                     Overstated            Overstated

b.                     Understated          Overstated

c,                     Overstated             No effect

d.                    Overstated            Understated

e.                    Overstated            Understated      

These are the effects for each of the given transaction

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Bill Wessels has reviewed the strategic plan from corporate headquarters and is considering how to develop an annual business pl
LekaFEV [45]

Answer:

Bill is probably a(n)

SBU manager.

Explanation:

Bill Wessels, as a strategic business unit (SBU) manager, is responsible for strategic planning, profitability, and performance of his business unit.  The  SBU is a separate identifiable business unit in an entity with other SBUs. It has a manager, who is largely autonomous in pursuing the business mission of the unit.  It manages and accounts for its resource utilization separately from other units.  Its performance is evaulated based on set criteria.

5 0
2 years ago
Assume that the hourly price for the services of tarot card readers has risen and sales of these services have also risen. One c
Mars2501 [29]

Answer:

D the demand for tarot card readers has increased.

Explanation:

At constant supply, price of goods or services tend to increase as demand increases. In this case, the demand for the services has increased, meaning that demand for tarot card reading has increased relative to the supply of the service. This has resulted in an increase in price of the service.

8 0
3 years ago
Randy’s Pizza delivers pizzas to dormitories and apartments near a major state university. The company's annual fixed costs are
riadik2000 [5.3K]

Answer:

a. 8,200 pizzas

b. 17,400 pizzas

c. $17,100

Explanation:

The computation is shown below:

a. For break even point

= (Fixed expenses ) ÷ (Contribution margin per unit)  

where,  

Contribution margin per unit = Selling price per unit - Variable expense per unit

= $9 - $5

= $4

So, the break even point is

= $32,800 ÷ $4

= 8,200 pizzas

b. For target profit

The break even point is

= (Fixed expenses + target profit) ÷ (Contribution margin per unit)  

= ($32,800 + $36,800) ÷ $4

= 17,400 pizzas

c. And, the margin of safety in dollars is

= (Total sales - break even sales) × selling price per unit

= (10,100 pizzas - 8,200 pizzas) × $9

= $17,100

5 0
3 years ago
Barney builds custom wooden birdhouses. he can make 150 birdhouses per month and sell them for $50 each. his average total cost
musickatia [10]

Answer:

125 birdhouses per month

Explanation:

Barney=150 birdhouses

Total product=150 birdhouses

If Barney hires Fred

Fred =125 birdhouses

Total product=150+125

=275 birdhouses

Marginal product can be defined as a change in output as a result of a change in variable inputs

It can be calculated as follows

Marginal product=change in total product/change in variable inputs

=275-150/1

=125/1

=125 birdhouses per month

4 0
3 years ago
Match each item with the appropriate description.
DanielleElmas [232]

Answer:

Matching items with the appropriate descriptions:

A. Includes both financial and non-financial information for all areas of the business.

ERP

B. Uses accounting information for external reporting.

General Ledger System

C. Is a subset of the non-financial integrated accounting system.

Managerial Accounting

D. Includes the accounting part of the integrated information system.

General Ledger System

E. Uses accounting information for internal reporting.  

Managerial Accounting

Explanation:

- General Ledger System.  This system is where the financial accounting records of debit and credit are kept and summarized.

- ERP: "Enterprise Resource Planning” is the consolidated system for gathering and organizing business data, both financial and non-financial.

- Managerial Accounting: This is where internal accounting data are gathered and analyzed.

8 0
3 years ago
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