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Strike441 [17]
3 years ago
5

Forecasts are the foundation of the planning process. There are many methods available but the trick is to find the one that fit

s the __________ and is adaptable to the available
Business
1 answer:
jeyben [28]3 years ago
3 0

Forecasts are the foundation of the planning process. There are many methods available but the trick is to find the one that fits the __need__ and is adaptable to the available _data__

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The accountant for Eva's Laundry prepared the following unadjusted and adjusted trial balances. Assume that all balances in the
amm1812

Answer:

See the errors identified below.

Explanation:

Note: The data in this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data.

The explanation of the answer is now given as follows:

The following errors can be identified in the accountant's adjusting entries:

1.The accountant debited the account receivable for $5,000 (i.e. $23,250 - $18,250 = $5,000) without crediting laundry revenue.

Therefore, we should have:

Correct amount of laundry revenue = Laundry revenue in trial balance + (Adjusted account receivable - Unadjusted account receivable) = $182,100 + ($23,250 - $18,250) = $187100

2. The accountant debited laundry suppliers expense instead of crediting laundry suppliers for $3,000.

3. The the accountant credited Prepaid insurance for $3,600 (i.e. $5,200 - $1,600 = $3,600). However, the insurance expense was debited for $600.

4. Instead of crediting accumulated depreciation, the laundry equipment for depreciation expense was erroneously credited by the accountant for $13,000.

5. A debit of $1,000 to wages expense was not made by the accountant.

<u>Additional Note:</u>

After correcting the errors identified above, the correct adjusted trial balance will look as the one in the attached photo.

5 0
2 years ago
Direct labor and overhead costs incurred to change raw materials into finished products are known as
san4es73 [151]

Answer:

conversion costs

Explanation:

5 0
2 years ago
For what reason do you think fitzgerald interrupted gatsby’s story for the visit from the horseback riders? why doesn’t gatsby u
WARRIOR [948]
Fitzgerald wanted his novel to be mysterious. He need not give out all the information because he wanted the readers to be suspenseful regarding the story. Gatsby doesn't understand how he isn't welcome because he's too naive for thinking he is important.
5 0
2 years ago
On December 31, 2020, the Bennett Company had 100,000 shares of common stock issued and outstanding. On July 1, 2021, the compan
matrenka [14]

Answer:

$5.31

Explanation:

Earnings per share = Earnings Attributable to Holders of Common Stock ÷ Weighted Average Number of Common Stocks Outstanding

<em>where,</em>

<u>Earnings Attributable to Holders of Common Stock is :</u>

Net Income                                                                       $650,000

Less Preference Stock dividend                                       ($71,000)

Earnings Attributable to Holders of Common Stock      $579,000

<em>and</em>

<u>Weighted Average Number of Common Stocks Outstanding :</u>

Common Stocks at Beginning outstanding                                  100,000

Stocks Sold at Weighted Average (18,000 / 2)                                9,000

Weighted Average Number of Common Stocks Outstanding    109,000

therefore,

Earnings per share = $579,000 ÷  109,000

                                = $5.31

The 2021 basic earnings per share is $5.31.

4 0
2 years ago
Jacob has built up a wide network of contacts, clients, and local business neighbors since moving to Central City five years ago
Nata [24]

Answer:

The answer is network.

Explanation:

Network is a way of interacting with others to exchange some information or establish social contacts. Since Jacob has built up a wide range of contacts, clients, and local business neighbors over the years as mentioned in the statement, he will generally leverage on the network he has developed with these individuals as he intend to move to another phase of his career.

7 0
3 years ago
Read 2 more answers
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