The bookkeeper of Peri made the following mistakes: Discount allowed $3,840 was credited to discounts received...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
The bookkeeper of Peri made the following mistakes: Discount allowed $3,840 was credited to discounts received account. Discount received $2,960 was debited to discounts allowed account. Discounts were otherwise correctly recorded. Which one of the following journal entries will correct the errors? A B C Discount allowed Discount received Suspense account Discount allowed Discount received uspense account Discount allowed Discount received Dr $ 7,680 880 880 6,800 JA 5,920 1,760 1,760 6,800 The bookkeeper of Peri made the following mistakes: Discount allowed $3,840 was credited to discounts received account. Discount received $2,960 was debited to discounts allowed account. Discounts were otherwise correctly recorded. Which one of the following journal entries will correct the errors? A B C Discount allowed Discount received Suspense account Discount allowed Discount received uspense account Discount allowed Discount received Dr $ 7,680 880 880 6,800 JA 5,920 1,760 1,760 6,800
Expert Answer:
Answer rating: 100% (QA)
Answer Account Title and explanation Discount Allowed Discount Received ... View the full answer
Related Book For
Posted Date:
Students also viewed these economics questions
-
Your manager asks you to explore whether or not a Program Management Office (PMO) would help bring more predictability and control to your firm. While many projects have been very successful and...
-
A study was based on the records of 6789 patients in 369 hospitals in which the patients hearts stopped because of conditions that could have been reversed by an electrical shock from a...
-
A study was based on the records of 6789 patients in 369 hospitals in which the patients hearts stopped because of conditions that could have been reversed by an electrical shock from a...
-
The Fisher Apparel Company balance sheet for the year ended 2006 is as follows: a. What is Fisher's investment in current assets? b. Determine Fisher's working capital investment. c. Determine...
-
The National Highway Traffic Safety Administration has studied the use of rear-seat auto-mobile lap and shoulder seat belts. The number of lives potentially saved with the use of lap and shoulder...
-
Which pays a fixed amount and only provides benefits when the insured is hospitalized? A. Hospital indemnity. B. Managed care plan. C. Point of service. D. Surgical indemnity.
-
True or false: If we fail to reject the null hypothesis H0: 1 = 0, we can conclude that there is no linear relationship between the explanatory variable and the outcome variable.
-
The performance of gas turbine engines may be improved by increasing the tolerance of the turbine blades to hot gases emerging from the combustor. One approach to achieving high operating...
-
6. (5 points) The following summary statistics and scatterplot are for n=51 U.S. states plus the District of Columbia where x = population in millions, and y = total K/12 schools. Use the summary...
-
. With the information generated from the following table derivate from the Bureau of Economic Analysis (https://apps.bea.gov/iTable/index_nipa.cfm), please do the regression analysis, with the...
-
Consider N classical harmonic oscillators with coordinates and momenta {qi, p;}, and subject to the Hamiltonian N - 2 Pi [ + 2m 2 H(qi,pi) = mwq (a ) Calculate the entropy S as function of the total...
-
Consider growth diagnostics. Constraint categories are the boxes from which no further arrows emanate. Can you think of a fundamental constraint not included in the ten end boxes? (That is, an...
-
A survey of 200 students yields the following data: (a) What is the probability of drawing at random a student who owns both a computer and a TV? (b) What is the probability of drawing at random a...
-
A survey at Metropolitan College shows that among 750 economics majors, every student has taken at least one course in either economics or statistics. We also know that: 450 students have taken...
-
Calculate the probability for scores less than 600. SAT scores for Fiesta University SAT 750-800 700-750 650-700 600-650 550-600 500-550 450-500 <450 Number of students 40 60 100 250 375 575 400 100
-
Suppose you have three populations containing two members each. Suppose the means and the variances of the three populations are the same. Are the numerical values of the members of the first...
-
The following data (in thousands of dollars) have been taken from the accounting records of Rexman Corporation for the just completed year. Raw materials inventory, beginning $160 Raw materials...
-
Read Case Study Google: Dont Be Evil Unless and answer the following: Given its mission of providing information to the world, should Google censor searches in China?
-
Here are the durations (in seconds) of wood roller coaster rides in Ohio: a. Construct a boxplot. b. What is Q3? What does it mean in this situation? c. What is the IQR? What does it mean in this...
-
Is the statement true for g(x) = 3x? a. g(2 + 5) = g(2) g(5) b. g(4 + 6) = g(4) g(6) c. g(2 + 4) = g(2) g(4) d. g(x + y) = g(x) g(y)
-
Sketch the graph of the inequality x < -3. Also describe the inequality in words and in interval notation.
-
Use the Eppley Employment Services data in exercise 8-7 to compute Eppley's: a. Net income b. Total liabilities c. Total assets Exercise 8-7 The financial statements of Eppley Employment Services...
-
Karen Knox Exports, Inc., is a public company located in Clancy, New Mexico. The Knox family still owns a third of the outstanding voting shares. Knox is the only company with reliable sources for...
-
Gleneagles Corporation earned net income of \(\$ 70,000\) during the year ended December 31, 2020. On December 15 , Gleneagles had declared the annual cash dividend on its \(\$ 0.50\) preferred...
Study smarter with the SolutionInn App