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Norma-Jean [14]
3 years ago
13

Errors in Trial Balance

Business
1 answer:
elena-14-01-66 [18.8K]3 years ago
7 0

Answer:

DEBIT SIDE $1,450,000

CREDIT SIDE $1,450,000

Explanation:

Preparation of a corrected unadjusted trial balance.

DEBIT SIDE

Cash $42,900

Accounts Receivable $123,500

Prepaid Insurance $27,000

Equipment $300,000

Dividends $5,000

Salary Expense $660,000

Advertising Expense $275,000

Miscellaneous Expense: $16,600

TOTAL $1,450,000

CREDIT SIDE

Accounts Payable $52,000

Salaries Payable $4,800

Common Stock $40,000

Retained Earnings $137,200

Service Revenue $1,216,000

TOTAL $1,450,000

Therefore the corrected unadjusted trial balance will have a debit and credit balance of $1,450,000

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Korolek [52]

Georgia was contacted by the CEO to research if adding a new data center makes sense for the organization from an economic and operational stand point. Georgia agreed to perform "Feasibility Study".

<h3>What is Feasibility Study?</h3>

A feasibility study is an analysis that determines the chance of successfully completing a project by taking into account all pertinent economic, technical, legal, and scheduling issues.

The purpose of feasible study is-

  • An initial investigation of a prospective project or endeavour to assess its merits and viability is known as a feasibility study.
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There are four main elements that go into a feasibility study-

  1. Technical feasibility: The process of finding out how you're going to manufacture your good or service to see if it's feasible for your business is called technical feasibility.
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8 0
2 years ago
On September 1, Boylan Office Supply had an inventory of 30 calculators at a cost of $18 each. The company uses a perpetual inve
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Answer:

Sept 6.   DR Inventory (80 * 20)                                  1,600  

                    CR Accounts Payable                                             $1,600

Sept 9.    DR Inventory                                                    80

                    CR Cash                                                                   80

Sept 10.  DR Accounts Payable                                     63

                    CR Inventory                                                            63

Sept 12.  DR Accounts Receivable (26 * 31)                806

                     CR Sales Revenue                                                806

               DR Cost of Goods Sold  (21 * 26)                 546

                     CR Inventory                                                         546

Sept 14.    DR Sales Returns and Allowances                 31

                     CR Accounts Receivable                                        31

                 DR Inventory                                                  21

                      CR Cost of Goods Sold                                         21

Sept. 20    DR Accounts Receivable (30 * 32)             960

                        CR Sales Revenue                                              960

                  DR Cost of Goods Sold (30 * 21)               630

                        CR Inventory                                                        630

3 0
4 years ago
A __________ processing system is the basic business system that serves the operational level (analysts) and assists in making s
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Answer:

operating? ndnd

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If interest rates are declining, which of the following would be expected? (A) Discount bonds will appreciate more than premium
KengaRu [80]

Answer:

option A

Explanation:

The correct answer is option A.

When interest rates are declining , prices of the bond rise, but in this case the discount bonds will appreciate more than the premium bonds.

When interest rates fall  it becomes very easier to borrow money and causing many companies to issue new bonds so that they can invest in new ventures.

A premium bond is a bond trading above its face value.

A bond issued at a discount has its market price below the face value.

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4 years ago
All of the following are characteristics of Weberian bureaucracy except:
azamat

Answer:

b. management is the same as the ownership of the organization.

Explanation:

Weberian bureaucracy is the term used for the bureaucracy concept introduced by Max Weber, the famous sociologist and economists. He clearly stated that for any kind of administration the basic need is to maintain some standard characteristics:

Which included hierarchy as basics, therefore, it clearly distinguished the management and ownership and both are on different hierarchy.

Therefore, the correct option is:

b. management is the same as the ownership of the organization.

6 0
3 years ago
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