subject
Business, 11.06.2021 16:30 01222002

Entries to Correct Errors The following errors took place in journalizing and posting transactions: Insurance of $20,000 paid for the current year was recorded as a debit to Insurance Expense and a credit to Prepaid Insurance. Dividends of $17,000 were recorded as a debit to Wages Expense and a credit to Cash. Journalize the entries to correct the errors. If an amount box does not require an entry, leave it blank.

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 06:30
Selected data for stick’s design are given as of december 31, year 1 and year 2 (rounded to the nearest hundredth). year 2 year 1 net credit sales $25,000 $30,000 cost of goods sold 16,000 18,000 net income 2,000 2,800 cash 5,000 900 accounts receivable 3,000 2,000 inventory 2,000 3,600 current liabilities 6,000 5,000 compute the following: 1. current ratio for year 2 2. acid-test ratio for year 2 3. accounts receivable turnover for year 2 4. average collection period for year 2 5. inventory turnover for year 2
Answers: 2
question
Business, 22.06.2019 11:30
You've arrived at the pecan shellers conference—your first networking opportunity. naturally, you're feeling nervous, but to avoid seeming insecure or uncertain, you've decided to a. speak a little louder than you would normally. b. talk on your cell phone as you walk around. c. hold an empowered image of yourself in your mind. d. square your shoulders before entering the room.
Answers: 2
question
Business, 22.06.2019 16:40
An electronics store is running a promotion where for every video game purchased, the customer receives a coupon upon checkout to purchase a second game at a 50% discount. the coupons expire in one year. the store normally recognized a gross profit margin of 40% of the selling price on video games. how would the store account for a purchase using the discount coupon?
Answers: 3
question
Business, 22.06.2019 20:10
As the inventor of hypertension medication, onesure pharmaceuticals (osp) inc. was able to reap the benefits of economies of scale due to a large consumer demand for the drug. even when competitors later developed similar drugs after the expiry of osp's patents, regular users did not want to switch because they were concerned about possible side effects. which of the following benefits does this scenario best illustrate? a. first-mover advantages b. social benefits c. network externalities d. fringe benefits
Answers: 3
You know the right answer?
Entries to Correct Errors The following errors took place in journalizing and posting transactions:...
Questions
question
English, 04.03.2021 21:10
question
SAT, 04.03.2021 21:10
question
Mathematics, 04.03.2021 21:10
question
Mathematics, 04.03.2021 21:10
question
Mathematics, 04.03.2021 21:10
question
Mathematics, 04.03.2021 21:10
Questions on the website: 13722367