Answer:
<u>Journal 1</u>
Debit : Prepaid Expense $37,600
Credit : Cash $18,800
Credit : Insurance Expense $18,800
<u>Journal 2</u>
Debit : Dividends $18,000
Credit : Wages $18,000
Explanation:
Journal 1
The first error has to be corrected by debiting the Prepaid Expenses by twice the amount paid to cancel the effect of a credit entry made to that account. Cash is credited to show the correct credit entry that was supposed to be made. Insurance expense is credited to cancel the debit entry made to this account in error.
Journal 2
The error made is called error of principle. This is were the transaction is recorded in the wrong class of accounts. Simply, Debit the Dividends and credit the Wages Account to record and reverse the error out of the Wages Account into the Dividends Account.
Answer:
I think is the first one I'm not sure but I think is that one.
Answer:
Ethical behavior includes honesty, integrity, fairness and a variety of other positive traits. Those who have others' interests in mind when they make decisions are displaying ethical behavior. In the workplace, there might be a standard for ethics set throughout the company.
Explanation:
Answer:
Supply side is the view point of the Firms or the Businesses.
Explanation:
As the law of demand deals with the consumers side, the law of supply deals with the suppliers or the firms/businesses.
this tries to explain the factors that affect the supply, such as the prices of the substitutes and complements, the price of a commodity itself, taxes, government subsidies, technological influences, etc...
in this question, the 1st option, consumer is wrong. However, in certain situations, Government can be acted as a "supplier" (if there is a government monopoly on the supply of a good or a service", and government is a heavy influencer of supply through the implementaion of taxes and subsidies!
Answer:
D: $259,000
Explanation:
The computation of the paying amount which borrower can pay for a property is shown below:
= Mortgage loan amount for borrow ÷ loan-to-value ratio
= $220,000 ÷ 85%
= $258,823.53
= $259,000 round off
We simply divide the mortgage loan by the loan to value ratio so that paying amount could arrive which borrower can pay for a property.