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lilavasa [31]
3 years ago
9

Which of the following errors, each considered individually, would cause the trial balance to be out of balance? A payment of $1

48 to a creditor was posted as a debit to Accounts Payable and a debit of $148 to Cash. A payment of $59 for supplies was posted as a debit of $95 to Supplies and a credit of $95 to Cash. Cash of $530 received from a customer on account was posted as a debit of $350 to Cash and as a credit of $350 to Accounts Payable. A transaction was not posted.
Business
1 answer:
alukav5142 [94]3 years ago
8 0

Answer:

A payment of $148 to a creditor was posted as a debit to Accounts Payable and a debit of $148 to Cash.

Explanation:

Even if the others are wrong, they by themselves wouldn´t cause the trial balance to be out of balance, because in the end they have similar of the same amount of money in debit and credit, the only one that would make the trial balance to be out of balance would be A payment of $148 to a creditor was posted as a debit to Accounts Payable and a debit of $148 to Cash.  because as you can see it has both transactions in the debit side, and when doing trail balances for every debit there is always a credit with the same amount.

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Marta_Voda [28]

Answer: $38,410,000

Explanation:

When recording investments in fixed assets, it is best to use the market value at the time.

The market value of the land will therefore be the relevant cost here.

Initial investment in fixed assets = Market value of land + Cost to build plant + Cost of grading

= 7,700,000 + 29,300,000 + 1,410,000

= $38,410,000

8 0
3 years ago
A landowner owned a large piece of property containing an inn and a bakery. She entered into a contract to sell the property to
pickupchik [31]

Answer:

The most likely result at trial is that the landowner's claim for specific performance will be successful, and she will be awarded the entire price of contract.

Explanation:

When there isn't a statute, the buyer bears the risk of loss when property subject to a contract for sale is destroyed without fault of any party prior to the date specified for closing. Unless the contract specifies otherwise, the buyer must pay the contract price even if the property is damaged by fire.

The inn was burned down in this case after the landowner and the buyer signed a contract for the sale of the property, but before the closing date. The contract appears to be silent on the risk of loss, and no appropriate statute exists. As a result of the common law rule, the buyer bears the risk of loss. Therefore, the landowner has the right to particular execution of the contract, which implies that the entire stipulated contract price must be paid by the buyer.

Regardless of the property's drop in worth owing to the fire, the $1 million contract price must be paid by the buyer because he bears the risk of loss.

Therefore, the most likely result at trial is that the landowner's claim for specific performance will be successful, and she will be awarded the entire price of contract.

6 0
2 years ago
Which of these careers interest you? Check all that apply and why.
Rudiy27

Explanation:

a advertising manager is basically a person who advertises different businesses on their companies for money

3 0
2 years ago
Read 2 more answers
You are considering investing $1,000 in a T-bill that pays 0.05 and a risky portfolio, P, constructed with 2 risky securities, X
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Answer:

% in T bills = 18.92%, % in P = 81.08%

Explanation:

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Let % money in T bills be x

0.11 = 0.05*x + 0.124*(1-x)

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x = 18.92%

Hence, % in T bills = 18.92%, % in P = 81.08%

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