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Y_Kistochka [10]
3 years ago
11

Question 9 On September 28, 2017, Out to Get You, Corp. sold inventory, originally costing $6,900, for $7,500 on credit. The acc

ountant for Out to Get You, Corp. forgot to record all entries related to this transaction. What is the effect of not recording these entries?
Business
1 answer:
Margaret [11]3 years ago
8 0

Answer:

The Cost of Goods Sold will be understated by $6,900 and the Sales Revenue will be understated by $2,500.

Explanation:

The sale of goods on credit will affect the Cost of sales and the Sales Revenue. The Cost of Goods Sold will be understated by $6,900 and the Sales Revenue will be understated by $2,500.

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Unemployment rate = (Unemployed/Labor force)*100

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Labor force = number of unemployed + number of employed

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When homemakers are included in the labor force as employed then the unemployment rate would go down, labor force would increase and so the labor force participation rate would increase.

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Answer:

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2 years ago
A(n) ____ is a set of guidelines for helping a firm make ethical decisions:
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A code of conduct is a set of guidelines for helping a firm make ethical decisions. It <span>states the principles and expectations governing the behavior of individuals and organizations in the conduct of internal auditing. Hope this answers the question.</span>
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3 years ago
GavelCo Insurance sells an insurance policy to Barry in the state of Colorado. GavelCo violates a Colorado state statute when do
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Answer:

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