o pretend that you just started this job as a bookkeeper and want to give the impression that you know what you're doing.....but, to your horror, the debits and credits on the adjusted trial balance are not adding up.
Do you tell your boss or try to "fix it" on your own by changing a couple of numbers so it adds up, or do you just say nothing in hopes that next month will be better!
With these cases, I really want you to put yourself in these situations, maybe thinking about bosses you have worked with, and how you would deal with the situation. These are situations you are extremely likely to run into and the whole point of these cases is to prepare you to deal with them.
Answers
In this situation, it is best to address the issue and consult your boss for guidance rather than attempting to fix it on your own or ignoring the problem.
As a new bookkeeper, it's essential to establish trust and demonstrate professionalism in your work. If you find an issue with the adjusted trial balance, such as debits and credits not adding up, it's important to take the following steps:
1. Double-check your work: Before approaching your boss, ensure you have carefully reviewed your calculations and entries to confirm that the discrepancy is not due to a simple error on your part.
2. Identify the issue: If possible, pinpoint the specific transactions or accounts causing the imbalance. This will not only help you better understand the problem but will also demonstrate your analytical skills to your boss.
3. Consult your boss: Once you've double-checked your work and identified the issue, approach your boss with your findings. Explain the situation, the steps you've taken to locate the problem, and any ideas you may have for resolving it. Be open to their guidance and advice.
4. Collaborate on a solution: Work with your boss to address the issue and correct the trial balance. This may involve adjusting entries, reviewing previous records, or seeking help from more experienced colleagues. By taking responsibility and being proactive, you'll show your commitment to the job and your willingness to learn from mistakes.
Remember, honesty and professionalism are crucial in building a strong relationship with your boss and maintaining a good reputation within the company.
In the long run, addressing the issue and seeking guidance will be more beneficial than attempting to fix it on your own or ignoring it altogether.
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Related Questions
1. Buyers, sellers, and producers all have someone else they are competing with for economic benefits. This is known as:
O competition
O monopoly
O collusid
O cartels
Answers
Answer:monopoly
Explanation:
Tanya is a computer engineer she wants to serve the society by providing expert Computer Services at cheaper rate she opened her computer academy in a backward region for giving computer training to local people
identify the economic activity in which tanya is engaged by giving reason
Answers
The economic activity in which Tanya is engaged in is a business.
How to illustrate the information?It should be noted that from the information, it was stated that Tanya is a computer engineer and she wants to serve the society by providing expert computer services at cheaper rate.
This illustrates that she's into a service business as she provides service to the people.
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Which type of employee receives the most paid leave benefits?
O they all receive the same
full-time
O temporary
O part-time
Answers
Answer:
I think it's full-time
Answer:
Full time
Explanation:
Connie thinks that her salary and tax rate for next year will be lower than for this year. What step should she take to minimize her taxes in the current year? Select one: a. Accelerate receipt of income. b. Delay deductions. c. Practice tax evasion. d. Accelerate deductions. e. None of these will allow her to minimize her taxes.
Answers
Answer:
d. Accelerate deductions
Explanation:
Tax acceleration is a way that a taxpayer is able to hasten tax deduction.
Taxi is paid in the year that it was incurred instead of in the subsequent year.
This way tax expense that will be paid from the current year is reduced and tax income will increase.
In the given scenario where Connie thinks that her salary and tax rate for next year will be lower than for this year, the best way to minimise her tax expense starting this year is by tax acceleration
A class with 9 students went to local museum. Each student bought a general admission ticket for $10.Each special exhibit at the museum costs the same price, and 2 students bought 4 special exhibit tickets each, while 7 students bought 3 special exhibit tickets each. The total cost for the general admission tickets and the special exhibit tickets was $177.00. What is the cost, in dollars, of each special exhibit ticket?
Answers
Answer:
3
Explanation:
Total number of students = 9
Admision ticket cost = $10
Let cost of special exhibit ticket cost x
2 students ecah bought 4x
7 students each bought 3x
Admission. Cost + exhibit ticket cost = total cost
(10 * 9) + (2 * 4x) + (7 * 3x) = 177
90 + 8x + 21x = 177
29x = 177 - 90
29x = 87
x = $3
1: "How did Great Buy handle the return?" asks Sam.
"They promptly sent us two replacement monitors on October 10, as soon
as we returned the damaged ones," Monique replies. "And on October 28,
they sent us an invoice for the entire order. We paid them with a check that
same day."
Monique shows Sam the invoice from Great Buy, which reflects the two
replacement monitors that Berthold's received after returning the damaged
ones and asks him to process it for payment.
DESCRIPTION
Computer monitors (original order, $350 x 8)
Computer monitors (replacements, $350 x 2)
TOTAL:
AMOUNT
8 of 12
$2,800
$700
$3,500
What information would be recorded in the Accounts Payable ledger, which
had a previous balance of $2,800?
Answers
The resulting balance in the Accounts Payable ledger after these transactions would be a credit balance of $300 (i.e., $2,800 credit balance - $700 debit + $3,500 credit).
Why it is?
Based on the information provided, the following transactions would be recorded in the Accounts Payable ledger:
A credit entry for the original order of 8 computer monitors for $2,800, which was the previous balance in the ledger.
A debit entry for the two replacement monitors received on October 10, for a total of $700.
A credit entry for the payment made by Berthold's with a check on October 28, for the total amount due of $3,500.
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Machine has three speed settings, low medium fast the low setting produces 110 units with a 90% quality rating the medium setting produces 120 units with an 80% quality rating in the fast setting produces 140 units with a 70% quality rating if each unit sells for $20 what shutting makes the company the most money in sales win percentage not meeting quality standards cannot be sold
Answers
The low setting makes the company the most money in sales, with a total revenue of $1980
To determine which setting makes the company the most money, we need to calculate the total revenue generated by each setting while taking into account the quality rating. For the low setting, the company produces 110 units with a 90% quality rating, which means that 10% of the units are not sellable. So, the total number of sellable units is 110 x 0.9 = 99 units. The revenue generated from selling these units is 99 x $20 = $1980. For the medium setting, the company produces 120 units with an 80% quality rating, which means that 20% of the units are not sellable. So, the total number of sellable units is 120 x 0.8 = 96 units. The revenue generated from selling these units is 96 x $20 = $1920.
For the fast setting, the company produces 140 units with a 70% quality rating, which means that 30% of the units are not sellable. So, the total number of sellable units is 140 x 0.7 = 98 units. The revenue generated from selling these units is 98 x $20 = $1960.
Therefore, the low setting makes the company the most money in sales, with a total revenue of $1980
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answered
Sita and Zoya are two friends
belonging to Hindu and Muslim
religion. They start a
business of handicrafts together. They decide to
open the factory in rural area and give
employment opportunities to local residents.
a) Which form of business organisation have they
opted?
1 SEE ANSWER
Answers
They have chosen the partnership business structure:
Describe a partnership:In a partnership, parties who are referred to as business partners agree to work together to further their shared objectives. Individuals, companies, interest-based organizations, schools, governments, or combinations of these may be the partners in a partnership.
What is a partnership and what are its benefits?If there are less than 20 people involved and restricted liability is not required, think about forming a partnership. One benefit of a cooperation is that: Two or more heads are preferable to one. Your company is simple to launch and has modest startup expenses. The business has access to extra funding.
Briefing:In small- and medium-sized businesses, partnerships are a common type of company structure. One individual is unable to manage the growing scale of the company on their own. Therefore, a partnership between two or more people is formed to conduct business. The issue with sole proprietorships is beginning to be solved by this type of firm.
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2.which of the following statements best describes a keynesian approach to economics? a)aggregate demand is the most important driving force in the economy, but free-markets have no self-balancing mechanisms that lead to full-employment; therefore, government intervention is often necessary to stabilize an economy. b)politics determines economics, the nature of economics is conflictual, and the main actors are nation-states; therefore, the main goal of economic activity is the maximization of national interest. c)individual freedom to pursue interests/wealth in an open market free of government interference with the role of government to primarily protect property rights. d)resources flow from a periphery of poor and underdeveloped countries (global south) to a core of wealthy states (global north) enriching the latter at the expense of the former. poor countries are systemically locked into this unfavorable situation.
Answers
Option a is correct. The main economic driver is aggregate demand, but since free markets lack self-balancing mechanisms that lead to full employment, stabilising an economy frequently requires government intervention.
A macroeconomic theory known as Keynesian economics examines the total amount of spending in the economy and how it affects production, employment, and inflation. In an effort to comprehend the Great Depression, British economist John Maynard Keynes created it in the 1930s.
The fundamental tenet of Keynesian economics is that economic stabilisation may be achieved by government intervention. Keynes' theory was the first to clearly distinguish between the study of individual motivations and economic behaviour from those of broad aggregate variables and conceptions.
Keynes' theory led him to propose higher government spending and lower taxes as a way to boost demand and rescue the world economy from the Great Depression. Later, the term "Keynesian economics" was used to describe the idea that economic performance could be optimised and economic downturns might be avoided.
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Privacy concerns are one of the biggest reasons people don't purchase goods and services online.
true
false
Answers
As regards people not purchasing online because of privacy concerns, this statement is True.
Why are people skeptical of online sales?There is a general belief amongst many that purchasing goods online can violate one's privacy and security as regards using credit and debit card information to pay for goods.
As a result, people are always skeptical of buying things online but this hasn't stopped a lot of people.
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what is the name for the form of medical practice management under which personal property cannot be attached in litigation?
Answers
The time period you may be relating to is "Professional Corporation" or "Professional Association" (abbreviated as PC or PA). A professional company is a felony shape that lets certified specialists, such as physicians, dentists, and attorneys, function their practices as a separate felony entity.
One of the blessings of a professional employer is that it gives some safety against private legal responsibility for the expert's movements or debts. Generally, the private assets of the man or woman practitioners are protected against being seized to meet the agency's liabilities or judgments as a result of litigation.
However, it's miles important to notice that there are exceptions to this safety, which include cases of private malpractice or other wrongful movements.
It's well worth bringing up that the precise legal guidelines and guidelines governing expert corporations might also range by means of jurisdiction, so it is continually advisable to consult with a prison professional or professional for your unique area to apprehend the particular policies and protections relevant to medical exercise control.
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Match the job titles with career clusters executive secretary survey researcher Storage and distribution manager loan officer cargo and freight agent general manager
Answers
Answer:
Accountant - Finance
Survey Researcher - Science, Technology, Engineering and Mathematics
Loan Officer - Finance
Cargo and Freight Agent - Transportation, Distribution and Logistics
General Manager - Business Management and Administration
Executive Secretary - Business Management and Administration
Storage and Distribution Manager - Transportation Distribution and Logistics
Purchasing Agent - Manufacturing
Explanation: i took the test and got 100
Matching the job titles with career clusters are Executive Secretary in Business Management and Administration, Survey Researcher in Science, Technology, Engineering and Mathematics.
What are career clusters?Career Clusters provide students with a context for studying traditional academics and learning the skills specific to a career, and provide U.S. schools with a structure for organizing or restructuring curriculum offerings and focusing class make-up by a common theme such as interest.
In the U.S. Department of Education model, 17 Career Clusters link to 70+ more specific Career Pathways each having its knowledge and skills requirements. Within the 70+ career pathways, 1800 Career Specialties are defined. The structure has evolved and may vary by state. Matching more job titles with career clusters are Storage and Distribution Manager - Transportation Distribution and Logistics, Loan Officer Finance, and Cargo and Freight Agent - Transportation.
Further, Distribution and Logistics, General Manager - Business Management and Administration.
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Identify the tasks performed by workers in a Production career? Choose all that apply. cleaning and maithaining equipment and tools. managing budgets and costs. feeding materials into machines, and removing materials from machines. researching and comparing prices of products and services. checking and testing products or parts. designing and enforcing safety procedures to the environment.
Answers
Answer:
A. cleaning and maintaining equipment and tools, C. feeding materials into machines, and removing materials from machines, E. checking and testing products or parts
Explanation:
can i get brainliest?
The task that is performed by the worker in the production department is cleaning and maintaining equipment and tools, feeding material into machines, removing materials from machines and checking and testing products or parts.
What is the production career?Production personnel, in particular, are in charge of creating the final products. The labor of the production uses different types of equipment and parts of the machinery to allocate them in a systematic way. Others may work on a conveyor belt line, where each employee is responsible for their duty.
Thus, maintaining equipment, feeding materials to machinery and testing and checking parts are the right option
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A Purchase Order usually does not include:
A. Selling price.
B. Quantity ordered.
C. Purchaser name.
D. Purchase price
Answers
A Purchase Order usually does not include the Purchase price. Thus, option D is appropriate.
A purchase order is a formal legal document that a buyer uses to place an order with a supplier. The items, quantities, prices, as well as credit terms for purchase from the supplier, are all specified in a buy order. When a seller accepts a purchase order, it turns into a contract that must be followed.
A purchase order, commonly referred to as a PO, is a legal document that a buyer issues to a seller describing the kinds, quantities, and prices of products or services that are required. It is used to control the purchase of services and products from independent suppliers.
Thus, option D is correct.
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Use an Excel built-in function to calculate prices in column G based on the following two determinants: The price of the full service is based on two main determinants: (1) the type of bed by destination, and, (2) whether the customer is requesting expedited shipping. You were tasked to analyze the income distribution among the different bed types and destinations. For expedited shipping, the price of the bed increases by 25%.
Answers
Excel built-in function called "IF". Here's an example of how you can apply this function:
Assuming column E represents the bed type and column F represents the shipping type (0 for regular, 1 for expedited), and you want to calculate the price in column G, you can use the following formula: In cell G2, enter the following formula:
=IF(F2=1, E2*1.25, E2)
This formula checks if the shipping type in cell F2 is 1 (indicating expedited shipping). If it is, it multiplies the bed price in cell E2 by 1.25 (adding a 25% increase), otherwise, it uses the bed price as is. After entering the formula in cell G2, you can drag the formula down to apply it to the remaining cells in column G. The prices in column G will be calculated based on the bed type and shipping type, with expedited shipping prices being 25% higher.
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It is not necessary, when rejecting a job candidate, to worry about how the rejection is worded, as it will have minimal, if any, impact on the organization. True False
Answers
Pelis de terror/misterio que recomienden?¿'¿?¿??¡?¡'¡'¿'¡
Answers
Answer:
Una buena película de terror que podría recomendarte es Halloween, en su versión estrenada en 2018. Básicamente, trata de un asesino serial psicópata, que no tiene otro objetivo en la vida que el de asesinar gente sin motivo alguno.
Los protagonistas son una familia que vive en los Estados Unidos, cuya abuela ya se ha enfrentado previamente al asesino, quien luego de escapar del centro psiquiátrico en el que estaba recluido regresa a la ciudad donde vive esta familia, con el objetivo de vengarse de ellos.
Which occurrence is an emerging trend in International agricultural marketing? A the percentage of agricultural trade is decreasing В. the percentage of agricultural trade is increasing C.agricultural markets around the world are shrinking D. developing nations have moved from net importers to net exporters E. developed nations have stopped trading in agriculture
Answers
Answer:
answer is b
Explanation:
Answer:
the answer is b
Explanation:
i got it right on edmentum
what is the value of product portfolio?
Answers
Answer:
Product portfolio analysis can provide nuanced views on a stock type, company growth prospects, profit margin drivers, income contributions, market leadership, and operational risk. This is essential for investors conducting equity research by investors or analysts supporting internal corporate financial planning.
What do economists call the inverse relationship between price and quantity demanded?
Answers
The inverse relationship between price and quantity demanded is called The Law of Demand.
The law of demand tells us that higher prices lead to lower quantity demanded and lower prices lead to higher quantity demanded. It shows the inverse relationship.
Economists use the term demand to tell what is the amount of goods and services the consumer is willing to buy. The demand for any product basically depends on needs and wants. The amount paid by the buyer for particular goods and services is known as the price. An increase in the price of goods always has an impact on the demand for that good i.e. it reduces the quantity demanded. This is known as the inverse relationship between price and quantity demanded.
The law of demand also assumes that the other variables that affect demand will be held constant. Moreover, there is a difference between demand and quantity demanded. When economists are talking about quantity demanded they mean only a certain point on the demand curve.
Therefore, the inverse relationship between price and quantity demanded is called the Law of Demand.
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Please help I'm about to fail my class and i will be grounded for life, 100 pts for it! its financial literacy
Part One–Research
Imagine you bought 100 shares of stock three years ago and are selling it today. Select a company and research its stock prices. You can start with websites like Nasdaq and Fidelity. Determine the stock's price three years ago, or the purchase price, and its price today, or the selling price.
Part Two–Determine the Real Return
Calculate the real return of your stock investment using the following information:
Purchase price of 100 shares of stock
Selling price of 100 shares of stock
10% tax rate
3% inflation rate
2% administrative fee on the selling price of the stock
Part Three–Evaluate
Analyze your research and calculations, and answer the following questions:
What company did you select to buy stock in? Why did you select the company?
Consider the real return of the stock investment. Do you consider it a wise investment? Why or why not?
Answers
1. I imagine buying 100 shares of Amazon.com Inc. on January 3, 2020, when the stock price was $93.75, investing $9,375.
Today, October 31, 2022, the stock price of Amazon.com Inc. is $102.44.
2. The real return on my investment in Amazon.com Inc was a net loss of 7.12% or $667.60.
3. The company I selected to buy its stock three years ago was Amazon.com Inc.
4. I decided on Amazon.com Inc., hoping to earn spectacular returns since it is a multinational technology company.
5. When I consider the actual return on the stock investment in Amazon.com Inc., I think it was an unwise investment.
6. The investment returned a negative real value because I realized less than I initially invested; I actually lost about $667.60 overall.
What is the stock investment?Stock investment is the purchase of shares for an ownership interest in a publicly-listed company.
The investor makes the investment with the hope that the investee will grow and perform well over some period, enabling the investor to earn some real returns (in the form of dividends and capital appreciation).
Purchase of 100 shares Jan. 3, 2020 = $9,375 (100 x $93.75)
Sales of 100 shares Oct. 31, 2022 = $10,244 (100 x $102.44)
Tax (10%) = $1,024.40 ($10,244 x 10%)
Inflation (3%) = $307.32 ($10,244 x 3%)
Administration fee on sales (2%) = $204.88 ($10,244 x 2%)
Real Returns in dollars = $8,707.40 ($10,244 - $1,024.40 - $307.32 - $204.88)
Loss on returns = $667.60 ($8,707.40 - $9,375)
Loss percentage = 7.12% ($667.60/$9,375 x 100)
Unfortunately, Amazon.com Inc. did not pay any dividends during the period of my investment, and I really lost funds to taxes, inflation, and administration fees when I sold it.
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list your personal interest
Answers
Answer:
my interest is to reach conqueror in pubg mobile
3. parent owns 80% of sub. during 2014, parent sold goods with a 40% gross profit to sub. sub sold all these goods in 2014. for 2014 consolidated financial statements, how should the summation of parent and sub income statement items be adjusted? a. sales and cost of goods sold (cogs) should be reduced by the intercompany sales. b. sales and cost of goods sold (cogs) should be reduced by 80% of the intercompany sales. c. net income should be reduced by 80% of the gross profit on intercompany sales. d. no adjustment is necessary.
Answers
Intercompany transactions take place when items are sold from the parent to the sub since the parent owns 80% of the subsidiary. The Correct option is A
The parent in this instance made a 40% gross profit on the commodities it sold to the sub. Since the sub sold every item in 2014, the intercompany sales in the consolidated financial statements should be deleted to prevent double-counting of income and expenses.
As a result, intercompany sales—the volume of goods sold from the parent to the subsidiary—should be subtracted from both sales and cost of goods sold (cogs). The elimination of intercompany sales and expenses will result in a consolidation of the financial statements that accurately reflect the economic activity of the consolidated firm, so there is no need to alter net income.
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Walmart's same store sales have been declining and those of rivals Family Dollar and Amazon have been increasing. What explains this recent change?
a. Walmart was too aggressive with its low-cost position and lost customers who wanted more upscale products.
b. Walmart changed its strategy to focused dirrerentation.
c. Amazon and Family Dollar changed their strategies to attract more upscale customers.
d. Walmart changed its strategy to attract more upscale customers.
Answers
The recent change in declining same store sales at Walmart can be attributed to Walmart's aggressive low-cost position, which may have led to the loss of customers seeking more upscale products. Option a is correct.
The decline in same store sales at Walmart can be explained by option a. Walmart's emphasis on its low-cost position might have caused them to lose customers who desired more upscale products, which were being offered by competitors like Family Dollar and Amazon. Walmart's focus on providing affordable products may have attracted a specific customer segment seeking low prices but failed to cater to the needs of customers looking for higher-end or premium products. As a result, these customers may have shifted their purchasing behavior to competitors who could offer a wider range of products, including more upscale options. Option a is correct.
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what's the language spoken in Egypt?
Answers
Answer:
Modern Standard Arabic
Explanation:
Answer:
Arabic thats the language of egypt because most them are Islamic
What are three of the most common workplace accidents and two ways to prevent each of type of accident?
Answers
Answer:
1)slips,trips and falls
2)Fire and explosions
3)over exertion and muscle strains
Explanation:
To prevent slips and falls keep walking surfaces clean and free of clutter , cleaning all spills immediatelyTo prevent fire and explosions wear proper personal protective equipment and maintain chemical safety data sheets for all chemicalsTo prevent over exertion and muscle strains ensure employees are receiving frequent breaks and use safe lifting techniques:Most common workplace accidents
The 10 Most Common Workplace Accidents
Motor Vehicle Accidents. People who drive as part of their jobs are exposed to negligent drivers, inclement weather and faulty automotive equipment. ...
Slip and Falls. ...
Falls from Heights. ...
Electrocution. ...
Overexertion. ...
Struck by Objects. ...
Struck Against. ...
Entanglement.
Explanation:
A whole supermarket shelf of snack food bags is marked, "Frito-Lay." This is an example of a(n)
brand.
a. co brand
b. individual
c private
d. wholesale
e. family
Answers
Match the following
Answers
Answer:
2,3,1,5,4,6
Explanation:
numbers go in box
titusville delivery sold a delivery truck for cash of $10,200. if the original cost of truck was $39,600 and a loss of $8,400 was recognized on the sale, the accumulated depreciation at the date of sale must have been question 19 options: $24,920. $14,560. $3,360. $21,000.
Answers
The accumulated depreciation at the date of sale must have been $21,000.
Calculate accumulated depreciationTo find the accumulated depreciation, we can use the following formula:
Original Cost - Accumulated Depreciation = Book Value
We know the original cost of the truck was $39,600 and the loss recognized on the sale was $8,400.
We can use this information to find the book value of the truck at the time of sale:
Book Value = Sale Price - Loss Recognized
Book Value = $10,200 - $8,400
Book Value = $1,800
Now we can plug this value back into the original formula to find the accumulated depreciation:
$39,600 - Accumulated Depreciation = $1,800
Accumulated Depreciation = $39,600 - $1,800
Accumulated Depreciation = $37,800
So, the accumulated depreciation at the date of sale must have been $21,000. Option $21,000 is the correct answer.
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Kerr Company's account balances at December 31 for Accounts Receivable and Allowance for Doubtful Accounts were $2,100,000 and $20,000 (Cr.), respectively. An aging of accounts receivable indicated that $170,000 are expected to become uncollectible. The amount of the adjusting entry for bad debts at December 31 is
Answers
Answer:
$150,000
Explanation:
Calculation to determine what The amount of the adjusting entry for bad debts at December 31 is
Using this formula
Bad debts=Accounts receivable-Allowance for Doubtful Accounts
Let plug in the formula
Bad debts=$170,000-$20,000
Bad debts=$150,000
Therefore The amount of the adjusting entry for bad debts at December 31 is $150,000