A $130 credit to Supplies was credited to Fees Earned by mistake. By what amounts are the accounts under- or overstated as a result of this error?
A. Supplies, overstated $260; Fees Earned, understated $130.
B. Supplies, understated $130; Fees Earned, overstated $130.
C. Supplies, understated $260; Fees Earned, overstated $130.
D. Supplies, overstated $130; Fees Earned, understated $130.
E. Supplies, overstated $130; Fees Earned, overstated $130.
Answer: E
You might also like to view...
Which cornerstone of the public relations practice becomes especially valuable in a crisis?
A) going off the record for a few journalists B) limiting the damage of the crisis C) spinning a positive story D) gaining third-party endorsement
Joanne rents a single-family house for one year starting September 1 . If the house burns down, the common law requires:
a. payment of rent only prior to the destruction. b. payment to be suspended until the house is repaired. c. payments to terminate. d. payment to continue for the entire year.
HoneyBee Foods, Inc, in Illinois, and Jelly Roll Pastries, in Kentucky consent to have their dispute resolved in arbitration according to the law of Illinois. This is a ground for a court to
a. compel arbitration. b. review the merits of the dispute. c. review the sufficiency of the evidence. d. set aside any award.
Because of advertising campaigns, with which of the following did children have equal familiarity?
a. Mickey Mouse and Joe Camel b. Mickey Mouse and the Kool Penguin c. Mickey Mouse and the Marlboro Man d. None of the above