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2 years ago

Which of the following items is not a reason for difference between bank ledger account and the

Business

1 answer:

Fudgin [204]2 years ago

4 0

Answer:

Explanation:

Dishonored cheque

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Wagner Enterprises and Stone Services both disposed of an old asset. When completing the journal entry, Wagner Enterprises inclu

In-s [12.5K]

Answer:

Wagner Enterprises and Stone Services

Disposal of old asset:

It could be that Stone Services exchanged its old asset with a new one with a company. In that situation, the debit goes to New Equipment, while the credit is to the old Equipment. Another reason could be that Stone Services sold the old asset on account. In this situation, the debit goes to the Accounts Receivable account, while the old asset is credited accordingly.

Explanation:

When a company disposes of an old asset, it credits the asset account and transfers the amount to the Sale of Asset account. The same is done for the accumulated depreciation, in reverse. When cash is realized from the disposal, the Sale of Asset account is credited, while Cash account is debited. Then, the difference in the Sale of Asset account will be a gain or a loss, depending on the net book value and the cash realized from the sale.

3 0

2 years ago

Sosa Diet Supplements had earnings after taxes of $1,170,000 in 20X1 with 347,000 shares of stock outstanding. On January 1, 20X

Sphinxa [80]

Answer:

A. $3.37

B. $3.41

Explanation:

A.Computation for earnings per share for the year 20X1

20X1 Earnings per share= $1,170,000/347,000

20X1 Earnings per share= $3.37

Therefore earnings per share for the year 20X1 will be $3.37

B. Computation for earnings per share for the year 20X2.

First step is to calculate the Earnings available to common stockholders

Earnings available to common stockholders = $1,170,000x (1+.31 )

Earnings available to common stockholders = $1,170,000x 1.31

Earnings available to common stockholders = = $1,532,700

Second step is to calculate the Common shares outstanding

Common shares outstanding = 347,000 + 103,000

Common shares outstanding = 450,000

Now let calculate the earnings per share for the year 20X2

20X2 Earnings per share=$1,532,700/450,000

20X2 Earnings per share = $3.41

Therefore earnings per share for the year 20X2 will be $3.41

8 0

2 years ago

Job 543 started on june 1 and finished on july 15. Total cost on july 1 was $10,800, and the costs added in july were $164,300

Snowcat [4.5K]

Answer:

$175,100

Explanation:

Job 523 started on June 1 and ended on July 15

The total cost on July 15 was 10,800

The cost added in July was 164,300

Therefore the debit to cost of goods sold can be calculated as follows.

= 10,800 + 164,300

= 175,100

Hence the debit to cost of goods sold is $175,100

4 0

2 years ago

I'm selling candy and need tips.

krok68 [10]

I would love to help you! I will talk to you in a PM. Talk to you then : )

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2 years ago

What is a trade-off?

mojhsa [17]

The best answer is:
C) a choice that must be made due to scarcity.
A tradeoff occurs when you must choose between two or more things, selecting the best option given the constraints. Choosing what to spend your allowance on, for example, is involves a trade-off that you must make due to the scarcity of your allowance money (you don't have unlimited money). D is a tempting answer, but it does not define trade-off as well as C.

3 0

2 years ago