Answer:
This journal entry is incorrectly recorded making the company's net income decrease in its income statement, retained earnings are decreased in its retained earnings statement, and its assets (receivable account) and the equity of its shareholders both decrease in your balance sheet
Explanation:
The right Journal entry is:
D Account receivable 15000
C Revenue 15000
It is to be noted that the following question below is about a Trial Balance. This is a type of reconciliation book in Financial Accounting.
<h3>What is a Trial Balance?</h3>
Please, note that the original worksheet is not attached, hence the general answer.
This, in financial accounting, refers to the statements or records of all credits and debits in a double-entry accounting book which includes all errors or disagreements between figures and accounts.
Usually, all debit and credit columns sums must and should be equal to show that the account has been balanced.
See the link below about Trial Balance:
brainly.com/question/24914390
Answer:
The total opportunity cost of investing in the business is explained below:
Explanation:
Opportunity cost is also known as alternative cost, the cost incurred from giving up one benefit for an alternative. Kelly withdrew 1000$ from his account, which was giving him a 3% profit annually, and the total opportunity cost of withdrawing 1000$ is 30$ annually. Similarly, he withdrew another 2000$ at 7% interest rate that is 140$which he has to pay annually.
30$ + 140$ =170$
The total annual opportunity cost is 170$
Answer:
The correct answer is 4.05%.
Explanation:
According to the scenario, the given data are as follows:
Spot rate = $1.73
Expected spot rate after 1 year = $1.66
So, we can calculate the depreciation percentage by using the following formula:
Expected Depreciation = (Expected spot rate after 1 year - Spot rate) / Spot rate
So, by putting the value
= ($1.66 – $1.73) / $1.73
= - $0.07 / $1.73
= - 4.05%
Hence, the depreciation percentage is 4.05%.
