User Account

All Pages

Decrease in accounts payable

Assignment Help Finance Basics
Reference no: EM131412514

At year-end, a trial balance showed total credits exceed total debits by $6,050. This difference could have been caused by:

A) The balance of $60,500 in Accounts Payable being entered in the trial balance as $6,050.

B) An error in the general journal where a $6,050 increase in Accounts Payable was recorded as a decrease in Accounts Payable.

C) A net income of $6,050.

D) The balance of $6,820 in the Office Equipment account being entered on the trial balance as a debit of $770.

E) An error in the general journal where a $6,050 increase in Accounts Receivable was recorded as an increase in Cash.

Reference no: EM131412514

Questions Cloud

Name two methods for implementation of a dmf : Name two methods for implementation of a DMF. Explain how these methods counteract the effects of frequency-selective multipath fading.
Is statement a premise or a conclusion- phone calls : In the following enthymemes, determine whether the missing statement is a premise or a conclusion.- Not all phone calls are welcome, but those from friends are.
Amount of credit sales during may : On April 30, Victor Services had an Accounts Receivable balance of $31,200. During the month of May, total credits to Accounts Receivable were $66,400 from customer payments. The May 31 Accounts Receivable balance was $25,000. What was the amount ..
Why do you think new patient codes : Why do you think new patient codes get higher reimbursement than established patient codes (for example a 99202 office visit codes reimburses higher than its counterpart 99212)?
Decrease in accounts payable : At year-end, a trial balance showed total credits exceed total debits by $6,050. This difference could have been caused by:
Draw the dmf for the discrete channel model : Give the block diagram of a discrete channel model for fading multipath channels and identify the tap gains of the model in terms of channel impulse response and front-end filtering at the transmitter and the receiver.
Amount of tuition revenue : On January 1, Eastern College received $1,270,000 from its students for the spring semester that it recorded in Unearned Tuition and Fees. The term spans four months beginning on January 2 and the college spreads the revenue evenly over the months..
Establish which one is the most effective substrate : Establish which one is the most effective substrate. You will need to prepare a reagent blank. Set up the incubation mixtures as follows, in labelled glass test tubes: 1.2mL Tris/HCl buffer, pH8.2.
Reply to at least two of you classmates posts : Reply to at least two of you classmates' posts by asking a probing question/s and provide reasoning/justification behind your question/s.which thus results in an increased ability to respond or react to changes in the environment" (2009). Therefore..

Reviews

Write a Review

Finance Basics Questions & Answers

  Cfo predicts that the firm’s operating expenses

Question 1 (Financial forecasting)Zapatera Enterprises is evaluating its financing requirements for the coming year. The firm has been in business for only 1 year, but its CFO predicts that the firm’s operating expenses, current assets, net fixed ass..

  Estimate orlando cost of equity in thailand

However, Orlando Co. is considering a stock offering in Thailand that is denominated in Thai baht and targeted at Thai investors. Estimate Orlando's cost of equity in Thailand that would result from issuing stock in Thailand.

  Calculate the total value of the synergy

ABC Corporation is planning launching a takeover bid for XYZ plc. The two companies are in the industry and have identical cost of equity capital, which is 12 percent after tax.

  What must the risk-free rate be

A stock has an expected return of 13.3 percent, its beta is 1.45, and the expected return on the market is 10.5 percent. What must the risk-free rate be?

  Explain how sharks ltd costs should be accounted

Explain how Sharks Ltd's costs (costs of direct mailings, purchased customer list and marketing costs) should be accounted for under AASB 138/IAS 38 Intangible Assets, giving reasons for your answers

  Your company is thinking about acquiring another

your company is thinking about acquiring another corporation. you have two choices the cost of each choice is 250000.

  What is the npv of this investment

They expect this equipment to produce cash flows of $814,322, $663,275, $637,250, $1,817,112, $1,292,960, and $1,225,000 over the next six years. If the appropriate discount rate is 15 percent, what is the NPV of this investment.

  Financial ratios are the principal tool of financial

financial ratios are the principal tool of financial analysis. ratios standardize the financial information of firms so

  What does a bullish approach mean

What does a "bullish approach" mean? Why does the data on options purchases indicate that traders were taking a bullish approach?

  What is the amount of cassadys deduction for transportation

cassady an employee of a law firm maintains an office at the principal business location of her firm. she frequently

  Depreciation and capital expenditures

Victoria Enterprises expects earnings before interest and taxes (EBIT ) next year of $1.2 million. Its depreciation and capital expenditures will both be $313,000 , and it expects its capital expenditures to always equal its depreciation. Its work..

  Determining the profitability index

Good Morning Food, Inc. is using the profitability index (PI) when evaluating projects. You have to find the PI for the company's project, assuming the company's cost of capital is 12.87 percent. The initial outlay for the project is $435,759. The..

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd