The two numbers are still wrong -49800 under retained earnings and -77200 under account payable even after taking out the negaiuve in front of it. Please provide a more accurate answer that is actuallyn the right answer
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The two numbers are still wrong -49800 under
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- Please provide the answers to the amounts not given.For the following items, provide the missing number.Retained Earnings, 1/1/16$ 575,603Net Income?Subtotal$ 498,667Dividends10,000Retained Earnings, 1/1/16$ 488,667Make sure your answer does not include a "$" (dollar sign) or "," (comma). It should be in the format of a basic number; such as "55000".at the end of the accounting period(sept 30th, T account after AJE), what is the balance of advances from customers? use accural accounting multiple choice: a) $0, b) $1000, c) $3000, d) $2000, e) none of the other alternatives are correctHow do I find the Revenue amount for the following problem? Please be clear and concise and avoid using tables or images etc if you can Revenue $? Dividends Declared $3000 Expenses $6000 RE 1/1 $8000 RE 12/31 $9000 My answer was $8000-but it was wrong.
- Which of the following accounts does not increase with a debit entry?A. Retained EarningsB. BuildingsC. Prepaid RentD. Electricity ExpenseI have two parts to this problem. This is dealing with a T-Account for "Expense" I need to know how do I tell which is the "normal" side where the balance increases, and if this can change sides based on Thesetransactions.These are on the left side of T-Account2/1/19 Beginning Balance $80,0002/15/19 Transaction A $20,0002/28/19 Transaction C $6,000On the Right side2/10/19 Transaction C $10,00Ending Balance???1-Which of the following is an Example of Partial Omission? a. Rent expense of RO 150 were entered in Rent account only b. Rent expense of RO 150 was entered as RO 510 in both the accounts c. Rent expense of RO 150 were not entered at tall d. Rent expense of RO 150 was entered as RO 1500 in both the accounts Clear my choice 2-Which of the following is an example of Error of Complete Omission? a. Salary of RO 200 was entered as RO 2000 in both the accounts b. Salary paid RO 200 was entered only in Salary account c. Salary of RO 200 was entered as RO 20000 in cash account d. Salary paid RO 200 was not entered in both the accounts Clear my choice 3-Which of the following is an example of Books of Prime entry? a. trial balance b. Cash disbursement journal c. purchase ledger d. sales ledger 4-Financial Statements prepared by the business by using Computerized accounting system is an example of a. Both input and output…
- 1. Two transactions are recorded incorrectly in a worksheet. The fi rst error is a transaction of $1000 which is entered fully twiceon the worksheet. The second error is a transaction of $500 recorded only on the assets side of the worksheet. What will bethe diff erence between the assets side of the worksheet and the liabilities + owners’ equity side of the worksheet?Select one:a.$500 b.$1500c.$2000d.$2500Which of the errors listed below would cause the unadjusted trial balance to be out of balance? Failure to record an adjusting entry Overstating a liability balance by P100 and expense balance by the same amount. Posting only the debit portion of a journal entry. Interest on a 60-6% note payable for P6,000 was recorded and posted as a debit to Interest Expense of P600 and a credit to Cash of P600,A. Discuss briefly how transactions are accounted for events after the reporting period.B. How do you make adjustments for a non-counter balancing error and does it affect the present financial statements?C. In case the books of accounts are not yet closed what financial statements account/accounts must be adjusted? Why?
- True or false: During the closing process, when we reset the balance of the revenue and expense accounts to zero, the overall amount credited (or debited) to retained earnings is equal to the company's net income (or loss) for the fiscal period. If your answer is “False”, then explain (in one sentence) why the statement is false.FIND RE 1/1 Please calculate the missing information in the following problem and provide the equation and explain how you came to the correct amount pleae. Revenues $63000Dividends $21000 Expenses $38000January 1 retained earnings balance UNKNOWNDecember 31 retained earnings balance $16000$16,000High company, your client, failed to record accrued salaries expense of 50,000 as of December 31, 2022Based on the foregoing, answer the following questions:1.) Which of the following accounts is(are) understated by 50,000 at the end of year 2022 as a result of the error? 2.) Which of the following accounts is(are) overstated by 50,000 at the end of year 2023 as a result of the error? 3.) What would be the adjusting entry if the error is discovered in year 2022? 4.) What would be the adjusting entry if the error is discovered in year 2023? 5.) What would be the adjusting entry if the error is discovered in year 2024?