Blog

When an accountant makes a mistake while entering a transaction, the result is that the balances in some accounts are wrong. Accountants say that these accounts have been “misstated.” Imagine a Monopoly company called Shoe Co. uses HAM accounting. On 3/01, it lands on the “Chance” square and is required to pay $50 of cash to the bank because of the chance card. This is considered a miscellaneous expense. However, imagine that, rather than making all the necessary entries to record a $50 miscellaneous expense, Shoe Co. makes a mistake and makes all the necessary entries to record this as a $50 miscellaneous revenue in its journal and HAM. Which accounts on the list below will be immediately misstated on 3/01 in the HAM because of this accounting error?

For the event described below, make the appropriate entries in journal entry format to record its effects on the firm.  On 7/02 you “mortgaged” a property and received $100 cash. Another way to describe this transaction is that you took out a mortgage loan. The loan’s interest rate is 12% per year including the month during which the loan was initiated and the month during which the loan is terminated. Interest is payable to the bank at the time the loan principal is repaid. At year end on 12/02, the loan is still outstanding and you have made no payments to the lender. Make the appropriate adjusting entry to deal with your mortgage loan at 12/02 in journal entry format. Date Account(s) you debit (left aligned and listed first)     Account(s) you credit      (indented and listed last) Debit Credit 12/02(adjusting) [dacct1]      [cacct1] [debit1]  [credit1] Notes on answer format: In the portion of the journal entry listing accounts: Identify accounts using the official account abbreviations (use the official account abbreviations which you can review by looking at the images at the bottom of this question. Pay attention to capitalizations!). In the portion of the journal entry listing dollar amounts:  In some cases, the dollar amount will be filled in for you. When you fill in a dollar amount, do not use any spaces, commas, or symbols.  If there is a place for an answer but you think it should be left blank, enter the number 0.

For the event described below, make the appropriate entries in journal entry format to record its effects on the firm.  On 3/01 you pay a $200 rent payment with cash. Date Account(s) you debit (left aligned and listed first)       Account(s) you credit        (indented and listed last) Debit Credit 3/01 [dacct1]        [cacct1] 200 200 Notes on answer format: In the portion of the journal entry listing accounts: Identify accounts using the official account abbreviations (use the official account abbreviations which you can review by looking at the images at the bottom of this question. Pay attention to capitalizations!). In the portion of the journal entry listing dollar amounts:  In some cases, the dollar amount will be filled in for you. When you fill in a dollar amount, do not use any spaces, commas, or symbols.  If there is a place for an answer but you think it should be left blank, enter the number 0.

The Spartans devoted most of their resources to maintaining a military state because they faced the constant threat of rebellion from oppressed agricultural workers.

Çatal Hüyük is significant because it

The Peloponnesian War 

Which of the following statements about the political philosophy of Legalism is most accurate?  

According to the beliefs of the Aryan people and the Upanishads, what happens to the soul after death?

The most prominent theory about the decline of the Indus Valley societies points to 

Despite their superior numbers, this battle was a surprising defeat for the mighty Persians.