1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
marta [7]
2 years ago
7

As the full-time bookkeeper, your job is to make any corrections to the general ledger accounts. Each correction needs the reaso

n for the change and the effect on each account, whether it is an increase or decrease. For the third time this month, a co-worker has recorded a cash receipt twice and wants you to record a correcting entry that will reverse the mistakes. The correcting entry will record a credit to the Cash account and a debit to the Sales account. Your co-worker has offered to buy you dinner for fixing this mistake.
Required:
What should you investigate before making a decision about the correcting entry?
Business
1 answer:
igomit [66]2 years ago
3 0

Answer: See explanation

Explanation:

Based on the information given, we are informed that the co-worker has recorded a cash receipt twice and wants the full time bookkeeper to record a correcting entry that will reverse the mistakes.

Before making a decision about the correcting entry, it is necessary to check the entry and cross check the balances for sales and cash. One has to also check the receipts and every other necessary details in order to make sure that the transaction is genuine and not fraudulent.

After the through check, if the person is sure and confident that everything is okay, then the correcting entry can be made.

You might be interested in
Leiff goes online to buy a new video game. He finds a site that currently has a promotion of 15% off on all orders over $50. Lei
rjkz [21]

Answer:

......................

Explanation:

4 0
3 years ago
Read 2 more answers
During September at Renfro Corporation, $65,000 of raw materials were requisitioned from the storeroom for use in production. Th
horrorfan [7]

Based on the amount of raw materials requisitioned, the journal entry to debit the Manufacturing Overhead would be $4,000.

<h3>What amount would be debited to manufacturing overhead?</h3>

The manufacturing overhead is for expenses that are not directly involved in the manufacturing process.

This is why it is the indirect material amount of $4,000 that will be debited to the manufacturing overhead account.

Find out more on manufacturing overheads at brainly.com/question/13312583.

#SPJ12

7 0
1 year ago
Hawaiian food would be an example of what type of cuisine?
iragen [17]
Nouvelle cuisine



Hope it helps


Pls mark as brainlist
8 0
2 years ago
Suppose you've just inherited $10,000 from a relative. you're trying to decide whether to put the $10,000 in a non-interest-bear
NeTakaya
Since the purpose is put the money aside that anytime you can get it and spend it on anything you want to buy, the best answer from the choices is  "HOLD IT AS A MONEY". 

You can choice U.S treasury fund because only after 10 years you can get the money with fixed interest.
6 0
2 years ago
A dividend is _____.
guajiro [1.7K]
I think it is C.Money a company shares with stockholders.
8 0
3 years ago
Read 2 more answers
Other questions:
  • An oligopoly exists when a firm offers a product that has no close substitutes, making the firm the sole source of supply.
    11·1 answer
  • Hey how do you earn money? If you even do.
    15·2 answers
  • Altira Corporation provides the following information related to its merchandise inventory during the month of August 2021:
    9·1 answer
  • A stock just paid an annual dividend of $2.8. The dividend is expected to grow by 10% per year for the next 4 years. The growth
    11·1 answer
  • Stephanie Johns is a member in a store that is a nonprofit organization that buys grocery items in bulk. The savings on these bu
    9·1 answer
  • ABC Company produces Product X, Product Y, and Product Z. All three products require processing on specialized finishing machine
    12·1 answer
  • Janice’s firm is entering a new market and she plans to set prices to take sales away from the established market leader even th
    10·1 answer
  • Uchimura Corporation has two divisions: the AFE Division and the GBI Division. The corporation's net operating income is $12,300
    14·1 answer
  • What is the risk you are taking when investing in bonds? How can you minimize this risk?
    12·1 answer
  • Describe 'the market place' ​
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!