Journal entries paid commission Rs 30000

Sammy has included a total row to help make sure that his paycheck can be divided to make deposits into these 4 accounts. If the

SIZIF [17.4K]

He had split it into 4 sections an devided by the full amount of the check

3 0

3 years ago

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For accounting errors, which of the below sentences is true?

Monica [59]

Answer:

The correct option is C

Explanation:

Accounting error is the type of error in the accounting which was not done intentionally but when spotted, the error need to be fixed immediately. And when there is no immediate solution for the error, an investigation is conducted in order to find out who caused the error.

The statement which is true is that they represent the fraud which usually result in the legal action to be taken.

7 0

3 years ago

A robot manufacturing company in Southeast Asia undertakes a government project to produce multi-utility robots. It requires a s

eimsori [14]

Answer: a. Computer-aided manufacturing

Explanation: A computer-aided manufacturing would help the robot manufacturing company in this regard since it can provide the required software to control the machine tools and processes needed in the manufacture of the multi-utility robots.

Computer-aided manufacturing (CAM) is defined as the use of software and computer-controlled machinery to automate a manufacturing process and is composed entirely of software that tells a machine how to make a product through the generation of toolpaths; a machinery that can turn raw material into a finished product and a post processing unit that converts toolpaths into machine languages. Computer-aided manufacturing thus provides high–speed machine tool paths that greatly minimize cycle times, reduce tool and machine wear and general improvement in quality and accuracy of cutting.

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3 years ago

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Emilio and lara have two children who are enrolled full-time at their state college, wyatt, who is a freshman and deidra, who is

amid [387]

According to The American opportunity tax credit (AOTC) Each student could get a maximum annual credit of $2,500 per eligible student.
So, maximum education credit that emilio and lara can take on their return collectively is:
$ 2,500 x 2 = $ 5,000

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3 years ago

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Elliptical Consulting is a consulting firm owned and operated by Jayson Neese. The following end-of-period spreadsheet was prepa

skad [1K]

Answer and Explanation:

The Preparation of income statement, retained earnings statement, and balance sheet is prepared below:-

Elliptical Consulting

Income statement

For the Year Ended June 30, 2016

Particulars Amount

Revenue

Fees earned $60,000

Less:

Expenses

Salary expense $32,375

Supplies expense $2,100

Depreciation expense $1,500

Miscellaneous expense $2,000

Total expense $37,975

Net income $22,025

Elliptical Consulting

Retained earning

For the Year Ended June 30, 2016

Particulars Amount

Opening balance $52,200

Add:Net income for the year $22,025

Total $74,225

Less: Dividends $2,000

Closing balance of retained

earnings $72,225

Elliptical Consulting

Balance Sheet

For the Year Ended June 30, 2016

Particulars Amount

Assets

Cash $27,000

Accounts receivable $53,500

Supplies $900

Total current assets $81,400

Property plant and equipment

Office Equipment $30,500

Less:Accumulated

Depreciation $6,000 $24,500

Total Assets $105,900

Liabilities & Stockholder's Equity

Accounts payable $3,300

Salaries payable $375

Total liabilities $3,675

Stockholder's Equity

Common Stock $30,000

Retained earnings $72,225

total stockholders Equity $102,225

Total liabilities and Stockholder's

Equity $105,900

8 0

3 years ago

Journal entries paid commission Rs 30000​

Journal entries paid commission Rs 30000