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3 years ago

Select the items below which must be adjusted to the book balance: ________

Business

1 answer:

Alona [7]3 years ago

6 0

Answer:

b. Book Error

e. Interest earned on the Checking account

f. Collections of Accounts receivable by the bank.

Explanation:

Items which must be adjusted to the book balance as this question is concerned are Book Error, Interest earned on the Checking account & Collections of Accounts receivable by the bank.

These above items require adjustment in book balance to compute the adjusted book balance.

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DS Unlimited has the following transactions during August. August 6 Purchases 78 handheld game devices on account from GameGirl,

borishaifa [10]

Answer:

August 6

DR Inventory $18,720

CR Accounts Payable $18,720

(To record purchase of goods for sale)

= 76 devices * $240

= $18,720

August 7

DR Inventory $440

CR Cash $440

(To record shipping costs of Inventory)

August 10

DR Accounts Payable $1,920

CR Inventory $1,920

(To record Purchase returns)

August 14

DR Accounts Payable $16,800

CR Inventory $168

CR Cash $16,632

(To record payment of purchases)

Working

Accounts Payable = Purchases - Returns

= 18,720 - 1,920

= $16,800

Inventory

Goods were purchased terms 1/10 meaning a 1% discount is goods paid for in 10 days.

= 1% * 16,800

= $168

August 23

DR Accounts Receivable $15,080

CR Sales Revenue $15,080

(To record sales of goods on account)

Sales Revenue = 58 devices * 260

= $15,080

August 23

DR Cost of Goods Sold $14,145.37

CR Inventory $14,145.37

(To record cost of Goods sold)

4 0

3 years ago

You graduated from college two years ago and began working at Hampstead Electronics. You have received good performance evaluati

Dmitry_Shevchenko [17]

Answer: (A) Equity

Explanation:

The equity is the term which refers to the financial equity difference between liabilities value to the assets value. It basically helps in understand the investment process properly and also define the worth of the business in terms of assets.

According to the given question, the equity is one of the type of theory that help[s in understanding the given unfair situation. It helps in managing all the technical skills and evaluating the given situation properly by using the systematic approach.

Therefore, Option (A) is correct answer.

8 0

3 years ago

the workers in the united states,canada,the netherlands ,germany,and japan are the highest paid and most productive workers in t

kkurt [141]

It is because they do hard stuff and the economy is good.

8 0

3 years ago

When the regulator sets a price that a firm cannot exceed over the next few years, the regulator is enforcing:?

Likurg_2 [28]

This is a price cap regulation. Because the firm cannot go over a certain price, the price is said to be capped. Regulations like this prevent firms from overcharging their customers, and promote good business ethics. It may slow the growth of the firm, but the cost comes at the benefit of the customer.

7 0

3 years ago

In late April, the Acme Construction Co. submitted a $1,200,000 progress billing on a construction contract.On May 2, the bill w

patriot [66]

Construction expenditures should be debited when D. The bill is approved for payment.

Explanation:

In the above scenario, Acme Construction Co. submitted bill amount of $1,200,000 on a construction contract. The payment of the bill was approved on May 2. According to the contract, 10% was subject to retention.

This construction expenditure is debited when the bill is approved for payment. Contract includes all the details regarding payment and terms and conditions between the companies or parties.

Once the bill submitted by company is approved, then the retention amount will be automatically debited.

8 0

3 years ago