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Question - Prepare the correcting entries for the following errors made in journalising and posting,
(1) A credit posting of $525 to accounts Receivable was omitted.
(2) A debit posting of $750 for supplies was debited to equipment.
(3) A collection from a customer of $100 in payment of it's account owed was journalised and posted as debit to cash $100 and a credit to service revenue $100.
(4) A debit posting of $415 to accounts payable was made twice.
(5) A cash purchase of equipment for $250 was journalised and posted as a debit to equipment $250 and a credit to accounts payable $25
(6) A debit of $625 to advertising payable was posted as a credit to advertising payable $652.
Prepare a flexible manufacturing budget for the relevant range value using 15,000 unit increments. (List variable costs before fixed costs.)
What is the accounting equation? What are the four basic financial statements? Describe the statement of cash flows, and explain why it is important
FINM4000 - Finance - Kaplan Business School - How has Apple share price preformed over the last three years relative to the market? Based on your research
Jetson Co. sold 20,000 units of its only product and incurred a $50,000 loss (ignoring taxes) for the current year as shown here.
An explanation of a threat to internal validity and threat to external validity in quantitative research. Explain a strategy to mitigate each of these threats.
a business received an offer from an exporter for 20000 units of product at 15 per unit. the acceptance of the offer
Explain the use of a quantity schedule. Who gives us the information regarding the percentage of units completed in a department
The ledger of Molina Company at the end of the current year shows Accounts Receivable $86,000; Credit Sales $780,000; and Sales Returns and Allowances $40,000.
At the end of the year, overhead applied was $35,000,000. Actual overhead was $34,200,000. Closing over/under applied overhead into cost of goods sold would cause net income to increase/decrease by?
During the year Winston purchased new plant at a cost of $200 000. Make Statement of cash flows for the year ended 31 December 2019
Early in 2014, Labrador changed depreciation methods for its plant assets from the double declining-balance to the straight-line method. The affected assets were purchased at the beginning of 2012 for $200,000, had no residual value, and had us..
Why the knowledge of audit risk is so important for auditors? Give specific statement as to whether each component is subject to the control of the auditor
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