Find the new debit and credit totals for the trial balance

Assignment Help Accounting Basics
Reference no: EM132860755

Question - A trial balance has debit and credit of P240,000. The purchase of P4,000 of office supplies on account was omitted from the original journal entries. After the recording and posting of this transaction, find the new debit and credit totals for the trial balance?

Reference no: EM132860755

Questions Cloud

International trade has been great boon for many countries : International trade has been a great boon for many countries and, in general, has been more beneficial for the world than not.
Allocate the total joint costs to products : There were no inventories on hand January 1, 2020, and there was no Wizon on hand on December 31, 2020. Allocate the total joint costs to products
Determining the trucking charges : The following assignments include determining the trucking charges associated with each shipment using the conversions
How planned to leverage cloud computing : Discuss the challenges the organization had that limited their profitability and/or competitiveness and how they planned to leverage Cloud Computing
Find the new debit and credit totals for the trial balance : The purchase of P4,000 of office supplies on account was omitted from the original journal entries. Find the new debit and credit totals for the trial balance
Define what technological paradigm shift : Define what a Technological Paradigm Shift is and provide a specific example.
The case of the missing reservation : Mark, Donna, and their children, along with another family, traditionally attended Easter brunch at a large downtown hotel.
Will things get better or more complicated as times goes on : Will things get better or more complicated as times goes on? Explain. What are some methods to assimilate new generations into the workforce to think
Hedging tools to mitigate foreign exchange exposure : If you ran an international firm that was starting a new venture in France, how would you use hedging tools to mitigate foreign exchange exposure

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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!

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