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Mkey [24]
3 years ago
5

Marigold Company discovered the following errors made in January 2022.

Business
1 answer:
lys-0071 [83]3 years ago
4 0

Answer:

A. Reversals entry

1. Dr Cash 900

Cr Equipment 900

Correct entry

Dr Wages and salaries 900

Cr Cash 900

B.

2. Dr Cash 5850

Dr Service revenue 650

Cr Account payable $6,500

3. Dr Accounts payable 360

Cr Equipment 360

Explanation:

A. To Correct the errors by reversing the incorrect entry and Preparation of the correct entry.

Reversals entry

1. Dr Cash 900

Cr Equipment 900

Correct entry

Dr Wages and salaries 900

Cr Cash 900

B. To Correct the errors without reversing the incorrect entry

2. Dr Cash 5850

($6500-650)

Dr Service revenue 650

Cr Account payable $6,500

3. Dr Accounts payable 360

(510-150)

Cr Equipment 360

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How are delivery drivers able to meet the delivery timelines selected by customers when purchasing products?.
Sliva [168]

Delivery drivers are able to meet the delivery timelines selected by customers when purchasing products by using : A GPS to avoid traffic delays.

<h3>What is product delivery?</h3>

Product delivery refers to the process of moving goods and services from one place to another. This process entails getting the goods produced either to a place where they will be sold or to final consumers.

The use of GPS enable us delivery drivers avoid traffic delays by informing them ahead where there are traffic.

Hence, delivery drivers are able to meet the delivery timelines selected by customers when purchasing products by using a GPS to avoid traffic delays.

Learn more about delivery here : brainly.com/question/24553900

5 0
2 years ago
n rural areas electrical power is often sold by ____________ that take advantage of the government's policy to sell them electri
Dmitriy789 [7]

Answer:

Cooperatives

Explanation:

Cooperatives are people-centered enterprises owned, controlled, and run by and for their members to realize their common economic, social, and cultural needs and aspirations.

4 0
2 years ago
A retail company sells products such as agricultural produce and consumer products. The company procures materials from farmers
mojhsa [17]

Answer:

Inbound logistics

Explanation:

Inbound logistics is the process of obtaining raw materials, and other goods and services, to the firm, while outbound logistics is the process of delivering the final goods and services from the firm to the customers.

In this case, the retail company is engaging in inbound logistics because it is procuring the raw materials from local farmers. Once these materials reach the firm, it can transform them into the agricultural produce and consumer produce that it sells.

5 0
3 years ago
A company reports the following beginning inventory and purchases for the month of January. On January 26, the company sells 350
Triss [41]

Answer:

Ending inventory= $494

Explanation:

Giving the following information:

On January 26, the company sells 350 units. 150 units remain in ending inventory on January 31.

January 1: 320 units for $3.00

January 9: 80 units for $3.20

January 25: 100 units for $3.34

Ending inventory= 100*3.34 + 50*3.2= $494

6 0
3 years ago
Suppose the fixed interest rate on a loan is​ 5.75% and the rate of inflation is expected to be​ 4.25%. The real interest rate i
Alex

Answer:

Lenders loose and borrowers gain

Explanation:

Whenever inflation increases the value of money falls and technically erodes interest rates (hence real interest rate falls although nominal rate stays the same)

In the scenario, if the inflation rate rises to 5.5%, then the real interest rate falls further from 1.5% to (5.75% - 5.5%) 0.25%, demonstrating that the lender is loosing further.

Contrarily, the borrower will technically be paying lesser interest to the lender because he will be paying lesser money in value to the lender both in terms of interest and principal

8 0
3 years ago
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