Use the following to answer questions 1?9:Indicate how each event affects the elements of the financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts.Increase = I Decrease = D No Effect = NA(Note that "No Effect" means that the event does not effect that element of the financial statements or that the event causes an increase in that element is offset by a decrease in that same element.) During the process of preparing the bank reconciliation, an employee for Heath Company discovered that Check #4261 for $65, used to pay an account payable, was recorded in the company books as $56.AssetsLiabilitiesStk. EquityRevenuesExpensesNet IncomeStmt of Cash Flows???????
What will be an ideal response?
(D) (D) (NA) (NA) (NA) (NA) (D)
An error made by the depositor requires an adjustment to the book balance to arrive at the true cash balance. The correction of this error will decrease assets (cash) and liabilities (accounts payable). It does not affect stockholders' equity or net income It is reported as a cash outflow for operating activities on the statement of cash flows.
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Which of the following best supports a market-penetration strategy for Champion?
A) Production costs increase as sales volume increases. B) It is very difficult for competitors to enter the market. C) The cost of producing a smaller volume is negligible. D) The quality of the products supports high initial prices. E) The market for the products is highly price sensitive.
Xuxa was a Brazilian media superstar of the 1980s and 1990s. As one of the country's most celebrated entertainers, she enjoyed a popularity that at times seemed like idolatry. What did Xuxa's physical characteristics suggest about racial ideals in Brazil?
Multiple Choice: Problems New Business is just being formed by 10 investors, each of whom will own 10% of the business. The firm is expected to earn $500,000 before taxes each year. The corporate tax rate is 34% and the personal tax rate for the firm's investors is 35%. The firm does not need to retain any earnings, so all of its after-tax income will be paid out as dividends to its investors. The investors will have to pay personal taxes on whatever they receive. How much additional spendable income will each investor have if the business is organized as a partnership rather than as a corporation?
A. $11,050 B. $12,266 C. $10,056 D. $9,282 E. $11,713
Manufacturers are required to report on any products intended for sale if the products have proved to be hazardous.?
Indicate whether the statement is true or false