For each of the following errors, considered individually, indicate whether the error would cause the trial balance totals to be unequal. if the error would cause the trial balance totals to be unequal, indicate whether the debit or credit total is higher and by how much. if the debit and credit totals would be equal, enter zero ("0") in the amount box. a. the payment of cash for the purchase of office equipment of $13,300 was debited to land for $13,300 and credited to cash for $13,300. by $ fill in the blank 2 . b. the payment of $2,460 on account was debited to accounts payable for for $180 and credited to cash for $2,460. by $ fill in the blank 4 . c. the receipt of cash on account of $2,400 was recorded as a debit to cash for $7,800 and a credit to accounts receivable for $2,400. by $ fill in the blank 6 .
Answers
For error a, the debit total is higher by $13,300. For error b, the debit total is higher by $2,280. And for error c, the debit and credit totals are equal.
a. Yes, the error in this case would cause the trial balance totals to be unequal. The debit total would be higher by $13,300, as land was incorrectly debited instead of office equipment.
b. Yes, the error in this case would cause the trial balance totals to be unequal. The debit total would be higher by $2,280 ($2,460 - $180), as accounts payable was incorrectly debited for $180 instead of $2,460.
c. No, the error in this case would not cause the trial balance totals to be unequal. The debit and credit totals would be equal as the debit to cash for $7,800 and the credit to accounts receivable for $2,400 would cancel each other out.
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Related Questions
What are some ways to make a higher education more affordable?
Answers
Answer:
Income Share Agreements
Three-year degree programs
Partnerships
Freezing Tuition
Tuition Reset
Community College
Explanation:
The total estimated cost of attending a public two-year college in Hasani’s home town last year was $2,265. The cost of attending the college is expected to increase 5% annually. Hasani plans to enter the college this year and attend for 2 years. Which is the best estimate for the total cost Hasani will pay for only his second year? $2,270.66 $2,275.00 $2,491.50 $2,497.16
Answers
Answer: Hi there! For this question, we will be compounding, because the cost of going of going to college goes up by 5% each year. The formula for compounding is P(1 + r)^t, where P = starting amount, r = rate, and t = time in years. First, let's add 5% (0.05) to 1. 1 + 0.05 is 1.05. We are talking about how much Hasani will have to pay in his second year. We will raise that number to the 2nd power. 1.05^2 is 1.1025. Now, we will multiply that number by2,265 to find the amount. When we multiply both numbers, we get 2,497.1625 or 2,497.16 when rounded to the nearest hundredth. There. Hasani will pay an estimated cost of $2,497.16. The answer is D.
Answer:
D
Explanation:
A business prepays four months' office rent. Which of the following accounts is debited? B) Unearned Rent A) Cash C) Rent Expense D) Prepaid Rent
Answers
Prepaid Rent is debited when a business prepays four months' office rent. Option D is correct choice.
When a business prepays rent for a certain period, the transaction is recorded as a debit to the Prepaid Rent account and a credit to the Cash account. This is because the business has paid in advance for the use of the office space, which is an asset, and it hasn't been used yet.
As the months go by, the Prepaid Rent account is gradually decreased with a corresponding increase in the Rent Expense account. At the end of the four-month period, the entire prepaid amount will have been expensed and the balance of the Prepaid Rent account will be zero. Option D is correct.
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What is an example of a digital asset?
O A. Cash
OB. A framed photograph
OC. Real estate
O D. Company reward points
Answers
An example of a digital asset is: B. A framed photograph.
What is digital assets?Digital assets can be defined as any item that are digitally kept in which the assets tend to add value to the owner of it.
Framed photography is considered a digital assets based on the fact that it is an image that tend to add value to the owner of it.
Some of the example of digital assets are:
LogosAnimationsDigital painting etcTherefore we can conclude that the correct option is B.
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Answer:
Company reward points
Explanation:
april has joined a team with members from the sales customers service and shipping and receiving departments which term best describes the team april joined
Answers
Answer:
A cross-functional team
Explanation:
A cross-functional team is composed of members with different skills, experiences, and backgrounds. In organizations, cross-functional teams will have members from various departments. The teams are formed to undertake projects that require input from different experts.
April has joined a cross-functional team. The team has members from many departments. Cross-functional are temporally and get dissolved when the project is complete.
a three-year bond with $1,000 face-value and 10% coupon rate is sold for $1,000 today. if one year later the market interest rate increases to 15%, then this bond will have a market price of next year. a. $956.52 b. $1092.97 c. $918.71 d. $1047.62
Answers
If one year later the market interest rate increases to 15%, then this bond will have a market price of $1092.97 of next year.
The term" request interest rate" refers to the effective interest rate on a fixed- rate profit obligation that the state has issued to fund a loan made under this section, or, if the department of administration determines that there has been a significant change in interest rates since the fixed- rate profit obligation was issued, the effective interest rate that the department of administration has determined.
Bonds are fixed- income securities that reflect loans from investors to borrowers( generally commercial or governmental). A bond can be compared to an agreement outlining the terms of the loan and the associated payments between the lender and borrower. Companies, cosmopolises, countries, and autonomous governments use bonds to finance operations and enterprise. Bondholders are the issuer's debtors or creditors.
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Imagine that you’re a dental hygienist. While cleaning a client's teeth you ask what flavor toothpaste to use and they say "orange," but you accidentally use cinnamon. The next day the client writes a bad review online, saying you didn't listen to them. Bad reviews are bad for your business. You need to figure out a way to communicate an apology to the client. How will you reach out and what will you say?
Answers
Answer: try finding your client online
Explanation:
most often than not, a person with become angry when not getting their way, so try to explain the you client that you are human, and that we all make mistakes
In the bcg matrix, ________ are characterized by high share and low growth and are the key sources of internal cash generation for a firm.
Answers
In the bcg matrix, cash cows are characterized by high share and low growth and are the key sources of internal cash generation for a firm.
What is the bcg matrix?This is the term that is used to refer to the way that the products of a business is analyzed. The reason why this is done is so that it would be able to aid in the strategic planning of the business. It helps in the assessment of the current state of the product line that the business owns.
Hence we can conclude that In the bcg matrix, cash cows are characterized by high share and low growth and are the key sources of internal cash generation for a firm.
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1. Fixed costs remains unchanged in amount when the volume of activity varies from period to period within a relevant range. 2. The margin of safety can be expressed in units of product, in dollars, or as a percent of sales. 3. Product costs can be classified as as three types: direct materials, direct labor, or overhead.
4. Selling and administrative expenses are normally product costs. 5. When materials are used as indirect materials, their cost is credited to the Factory Overhead account. 6. Contribution margin is the amount of sales that exceeds total variable costs. 7. Breakeven point is the point at which the company occur a loss not a gain 8. A sunk cost has already been incurred and cannot be avoided or changed, so it is irrelevant to decision making. 9. Job order production systems would be appropriate for companies that produce custom homes, specialized equipment, and special computer systems. 10. Job order costing is applicable to manufacturing firms only and not service firms. (True or false)
Answers
TRUE: Once the volume of activity fluctuates from period to period inside one pertinent range, fixed expenditures stay constant in amount.
Explain about the Fixed costs?Costs that are fixed are those that don't change based on volume.
You use this report to help the team understand your specific project.Rent and leasing charges, salary, energy prices, insurance, plus loan repayments are a few examples of fixed costs. The majority most fixed costs are outlays that are more time-dependent than they are production- or sales-related.Be cautious when including fixed expenditures because you must cover them regardless of the amount that you sell.When a corporation has a big fixed cost component, it needs to create a lot of sales to have enough contribution margin to cover the fixed cost. Yet, once that sales threshold is reached, this type of business typically has a low variable cost per unit and can provide astronomical profits far above breakeven point.To know more Fixed costs, here
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The correct question is-
Fixed costs remains unchanged in amount when the volume of activity varies from period to period within a relevant range. (TRUE/FALSE)
The post-closing trial balance helps to verify that: (Select all that apply.) Multiple select question. we prepared and posted closing entries correctly the accounts are ready for next period's transactions the company was profitable during the current period we prepared and posted adjusting entries correctly
Answers
It can be deduced that the post-closing trial balance is important as it verifies that:
we prepared and posted closing entries correctly.the accounts are ready for next period's transactions.What is a trial balance?A trial balance simply means the bookkeeping where the balance of all the ledgers are compiled.
The post-closing trial balance is important as it verifies that we prepared and posted closing entries correctly and that the accounts are ready for next period's transactions.
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When Tyler, a veteran, started his business, he knew he had to keep costs to a minimum and he worried about taxes. He planned to build and distribute safety goggles for construction workers and military personnel. He realized most of his business would not be through walk-in customers but rather large orders from companies. He chose to locate in a government-subsidized area called a(n) __________, where he would receive tax breaks and other government support.
Answers
Tyler chose to locate his business in an area which government offer subsized tax rate and tax break in other favor job creation called an enterprise zone.
Areas which are specially offered subsidized rate of taxes in other encourage economic development of such geographical area are called enterprise zone.
In other ensure that companies locate their offices in this zones, government offers support and gives other enticing offers in other to promote job creation in such environment.
Therefore, government - subsidized rates are enjoyed in enterprise zones.
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juul claimed that their product helped people __________, even though there was no independent research to back that up.
Answers
JUUL claimed their product helped people quit smoking, but there was no independent research to support this.
What is the best manner to stop smoking?
“The best way to quit smoking is with a combination of medication and counseling," said Maher Karam Hage, M.D., medical director of MD Anderson's Tobacco Treatment Program. "Both are helpful. But using both doubles her chances of using one or the other."
What happens to your body when you quit smoking?
About three days after quitting, most people experience irritability, irritability, severe headaches, and cravings while their bodies readjust. In just one month, a person's lung function begins to improve. As the lungs heal and vital capacity improves, ex-smokers may notice less coughing and shortness of breath.
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The government is concerned that the high inflation rate is threatening the sustainability of recent economic growth. What is the best way for the government to reduce the inflation rate?
Answers
Answer:
both raising taxes and reducing government spending, reduce the amount of money in the economy and reduce inflationary pressure on prices
Explanation:
Inflation is a situation where prices of goods and services become high. It can be caused by increased sand where consumers are willing to spend more on goods, or by an increase in production cost forcing suppliers to increase price.
The government can take various measures to control price increase during an inflation.
If money supply is reduced by less government spending and increased tax, there will be less tendency for price to increase.
Consumers will not be able to buy at the high price so suppliers are forced to reduce their prices
John borrowed $6,000,000 for a period of 15 years.is interest rate is 8%. How much interest will John pay in all?
Answers
Based on the information given the amount of interest that John pay in all is his $7,200,000.
Interest:Using this formula
Interest=Amount borrowed×Number of years×Interest rate
Where:
Amount borrowed=$6,000,000
Number of years=15 years
Interest rate=8%
Let plug in the formula
Interest=$6,000,000×15×8%
Interest=$7,200,000
Inconclusion the amount of interest that John pay in all is his $7,200,000.
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the channel with the highest cost per exposure is usually display advertisingT/F
Answers
False. The channel with the highest cost per exposure is not necessarily display advertising. The cost per exposure can vary across different advertising channels depending on factors such as the target audience, reach, effectiveness, and demand for the specific channel.
Display advertising refers to graphical or visual advertisements that appear on websites, apps, or other digital platforms. While display advertising can sometimes have a high cost per exposure, it is not always the case. Other advertising channels such as television, radio, print media, or even certain digital advertising methods like search engine marketing or influencer marketing can also have varying costs per exposure. The cost per exposure of an advertising channel is influenced by factors like the size of the audience reached, the level of competition, the quality of the ad placement, and the effectiveness in generating desired outcomes. It is important for advertisers to consider multiple factors, including the cost per exposure, when deciding which advertising channels to utilize in their marketing campaigns.
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A message sent by an HR manager asking all employees to submit details about overtime done in the previous quarter is an example of routine request
Answers
Answer:
D) information or action
Explanation:
These are the options for the question
A) settlements to claims
B) recommendations
C) adjustments
D) information or action
E) references
Routine request can be regarded as a request for information, which is been contained in case files, indices,schedules as well as dockets that doesn't look for impounded as well as confidential and sealed information.
When sending a routine email
that give recognizion for a job that is well done, the following should be included;
✓rationale that state work important of the work.
✓closing statement which encourages continued excellence.
✓specific descriptionthat explain purpose of the message.
It should be noted that message sent by an HR manager asking all employees to submit details about overtime done in the previous quarter is an example of routine request information or action
State the various purposes that an environmental impact statement must serve.
Answers
Answer:
An environmental impact statement, under United States environmental law, is a document required by the 1969 National Environmental Policy Act to protect the environment.
Therefore, the main purpose of an environmental impact statement is to make sure that the policies in the Act is implemented.
It also lists out the various endangered species in the area on either private or government territories and how best to preserve them from extinction.
1) Suppose you have a team of two workers: one is a baker and one is a chef. Explain why the kitchen can produce more meals in a given period of time if each worker specializes in what they do best than if each worker tries to do everything from appetizer to dessert. 2) A consultant works for $200 per hour. She likes to eat vegetables, but is not very good at growing them. Why does it make more economic sense for her to spend her time at the consulting job and shop for her vegetables? 3) What would be another example of a "system" in the real world that could serve as a metaphor for micro and macroeconomics? 4) Why do you think that most modern countries’ economies are a mix of command and market types? 5) What are the similarities between a consumer’s budget constraint a
Answers
What should you keep in mind when examining an income statement?
a) GAAP
b) Cash versus non-cash items
c) Asset composition
d) Time and costs
Answers
You should keep in mind when examining an income statement are a) GAAP, b) Cash versus non-cash items, and d) Time and costs.
When analyzing an income statement, it's crucial to consider the time period it covers, the expenses related to making money, the make-up of the assets that generate income, the distinctions between cash and non-cash items, and the generally accepted accounting principles (GAAP) that were used to prepare the statement.
The income statement's extraordinary items should also be taken into account, and any modifications to the accounting principles utilized to compile the statement should be noted.
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Match the following.
1. the system responsible for carrying blood through the body; the blood carries important nutrients, oxygen, and waste
2. an organism that can only be seen under a microscope; it cannot be seen with the human eye
3. an instrument used to magnify objects
4. critical element needed for cellular respiration; the brain cannot survive without oxygen
circulatory system
microorganism
oxygen
microscope
Answers
Answer:
1. Circulatory system
2.Microorganism
3. Microscope
4. Oxygen
Fill in the blanks: 1. The situation when law of demand is not applicable is known as it's............ 2. When price of one good affects to the demand for other good, this situation is known as ............... 3. Demand is the effective desire backed by.....................And .....................
Answers
Answer:
1. The situation when law of demand is not applicable is known as it's EXCEPTION.
2. When price of one good affects to the demand for other good, this situation is known as CROSS ELASTICITY OF DEMAND
3. Demand is the effective desire backed by the ABILITY and WILLINGNESS to buy the product.
Explanation:
Demand is a term that is born out of the human desires , wants or needs.
Demand can be defined or referred to as the amount a consumer is able and willing to pay in other to purchase goods and services that they desire or want.
The Law of demand states that the Quantity of goods and services demanded is inversely proportional to the prices of these goods and services. This means when the prices of goods increase, the quantity demanded decreases and when the prices of goods decreases ,the quantity of goods and services demanded increases.
Elasticity of Demand can be defined as the responses or effects of changes in price of goods and services on changes in the quantity demanded.
We have 4 types of Elasticity of Demand
a) Price Elasticity of Demand: This is when the quantity of goods and services demanded is affected by the change in price.
b) Price Elasticity of Supply: This is when the quantity of goods and services supplied is affected by the change in price.
c) Cross Elasticity of Demand: This is when the price of one good affects to the quantity demanded for other good,
d) Income Elasticity of Demand: This when the quantity of goods and services demanded is affected by the changes in the income of the consumer.
There are situations whereby the law of demand is not applicable and this is referred to as it's exceptions. Those situations are:
a) The type of goods and services.
b) When changes in the price of the goods and services is expected by consumers.
c) Changes that occurs in fashion or styles of a particular product ( This is when a product goes out of fashion or the style becomes outdated)
Who spent more than $50 million of his own money to run against Rick Perry in 2002 and lost?
Answers
The person who spent more than $50 million of his own money to run against Rick Perry in the 2002 Texas gubernatorial race and lost was Tony Sanchez.
Despite his significant spending, Sanchez was ultimately defeated by Rick Perry, who won the election with 58% of the vote. Perry went on to serve as Texas governor for 14 years, making him the longest-serving governor in the state's history.The 2002 Texas gubernatorial race between Sanchez and Perry was one of the most expensive gubernatorial races in U.S. history at the time, and it highlighted the growing role of money in American politics.
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PROBLEM: The Chicago Cubs play their home games at Wrigley Field, located in the Lakeview neighborhood of Chicago. A recent New York Times study concluded that the probability that a randomly selected Lakeview resident is a Cubs fan is 0.44.
(a) Interpret this probability as a long-run relative frequency.
Answers
Answer:
If a large Number of Lakeview residents are questioned, about 44% of them will be Club fans.
Explanation:
Reporting the probability outcome of a singular observation are usually reported as stated above, that the probability of a random sample of Lakeview resident being a club fan is 0.44%. However from a long run relative frequency approach, it requires just more Than one random sample but a large number of samples being evaluated over time.
Hence to expresa as a long run relative frequency, it could be stated as ; report gathered from many Lakeview residents, about 44% of them are Club fans.
"Production and marketing are like the scissor's blade, one is no good without the other." Justify this statement with suitable example
Answers
Answer:
Explanation:
The given statement is absolutely correct. As both blades of scissor is equally important to cut a piece of cloth similarly production and marketing both are dependent on each other to work efficiently.
Before the production of any item, pre-marketing is done to ensure the sale is followed by production, and to enhance the sale post- marketing is planned.
For eg : an XYZ product is manufactured, but the company doesn't have the marketing skills there will be no sale. So if the production is at peak but the company doesn't market it. so all the production woulkd be useless because marketing increase sale as well as ensure the margin.
Hence, production is incomplete without marketing and vice versa
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how do you find marginal cost? for 50 points
Answers
Marginal cost= change in total cost/change in quantity
John has $10,000 in debt with discover, $4,000 in debt with chase, $9,000 in debt with citi bank, and $3,000 in debt with wells fargo, giving him a total debt of $26,000. what percentage of john's total debt is with discover
Answers
The percentage of John's debts with discover is \(38.46%\), by using percentage calculation.
Given,
John's total debt:
$10,000 with discover$4,000 with chase $9,000 with Citi bank$3,000 with wells FargoTotal debt of John is $26,000, to calculate his Percentage of debt with discover, we need to add all the debts and then calculate how much percentage is 10,000 of 26000.
Calculation is as follows:
\(10000/26000*100=38.46\)
Hence, The percentage of John's debts with discover is \(38.46%\)\(%\), by using percentage calculation.
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so whos gonna help me with my family and consumer science finals :/
Answers
The socially optimal quantity of pollution is:_________.
a. the amount of pollution society would choose if the marginal social cost of pollution were zero.
b. the amount of pollution society would choose if all costs and benefits were fully accounted for. zero.
c. the amount of pollution society would choose if the marginal social benefit of pollution were zero.
Answers
Based on standard practices, the socially optimal quantity of pollution is "the quantity whose marginal social cost equals the marginal social benefit."
What is the socially optimal quantity?The socially optimal quantity is the term used to describe output quantity that reveals equilibrium between the costs and benefits of social conditions.
Therefore when the quantity of pollution whose marginal social cost equals the marginal social benefit occurs, this is a socially optimal quantity of pollution.
Hence, in this case, it is concluded that the correct answer is the quantity whose marginal social cost equals the marginal social benefit.
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If the equilibrium price for tickets to a a Bruno Mars concert is $150 each and he sells them for $100, a. Does he create a market surplus or shortage? Shortage Surplus Neither a shortage nor surplus b. Suppose scalpers buy 10,000 tickets and resell them for $150 each. How much profit do the scalpers earn?
Answers
Bruno Mars is selling his tickets at a price of $100 while the equilibrium price for tickets to a Bruno Mars concert is $150 each. This means that Bruno Mars is selling the tickets at a lower price than the equilibrium price.
So, there would be a shortage of tickets because people would demand more tickets at $100 than the supply. As a result, the demand for tickets would increase but the supply would not be enough to fulfill that demand. b. Suppose scalpers buy 10,000 tickets and resell them for $150 each. How much profit do the scalpers earn? If scalpers buy 10,000 tickets and resell them at $150 each, their total revenue would be $150 x 10,000 = $1,500,000. If scalpers initially bought each ticket for $100, then their total cost would be $100 x 10,000 = $1,000,000. Therefore, the profit scalpers earn would be the difference between the total revenue and the total cost. Hence, the profit scalpers would earn would be $1,500,000 - $1,000,000 = $500,000.
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English
v
Jayci
Sontext section for
According to O*NET, what are common work contexts
for Chefs and Head Cooks? Check all that apply.
toward the top, and
-d the bottom.
o spend time keeping or regaining balance
importance of being exact or accurate
exposed to high places
o spend time standing
responsibility for outcomes and results
responsible for others' health and safety
Answers
Answer:
● Check the freshness of food and ingredients.
● Supervise and coordinate activities of cooks and other
food preparation workers.
● Develop recipes and determine how to present dishes.
● Plan menus and ensure the quality of meals.
Explanation:
summer camps, fitness and recreational sports centers, nursing care facilities, nature parks, and other settings.
Answer:
According to O*NET, what are common work contexts for Chefs and Head Cooks? Check all that apply.
-importance of being exact or accurate
-spend time standing
-responsibility for outcomes and results
-responsible for others’ health and safety
Explanation: