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prohojiy [21]
2 years ago
9

Read each transaction and identify the appropriate journal that it should be recorded in ;1. Owner withdrew supplies 2. Sale mad

e on account 3. Payment to vendor on account 4. Payment received from customer on account 5. Purchases on account 6. Adjusting journal entry for supplies used 7. Owner withdrew cash 8. Company borrows money from bank 9. Record monthly depreciation 10. Close revenue accounts at month end All answer would be 1 Cash disbursement journal 2cash receipts journal 3 general journal 4 purchase journal 5 sales journal
Business
1 answer:
IRISSAK [1]2 years ago
6 0

The journal entries are given below:

1.

Drawings Debit

Supplies/Inventory Credit    

2.

Accounts Receivable Debit

Sales Credit

3.

Accounts Payable Debit

Cash Credit

<h3>What is Inventory?</h3>

An inventory is the current asset of a company that the company sells to earn profits, this inventory is also called as stock and supplies sometimes. The inventory is presented in the financial statements in the Statement of financial position under the current asset's head.

4.

Cash Debit

Accounts Receivable Credit

5.

Purchases Debit

Account Payable Credit

6.

Work in process Debit

Supplies Credit

7.

Drawings Debit

Cash Credit

8.

Cash Debit

Loan Payable Credit

9.

Depreciation Expense Debit

Accumulated Depreciation Credit

10.

Revenue Debit

Income Statement Credit

Learn more about Inventory at brainly.com/question/27256758

#SPJ1

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True or False: Used items like used clothing, electronics, and furniture are included in the computation for GDP because buyers
aliina [53]

Answer:

False

Used item clothings aren't included in GDP.

The GDP includes only items produced in a given year. The items would have been included in the year they were produced and adding them to GDP again would be double counting

Explanation:

Gross domestic product is the sum of final goods and services produced in an economy within a given period which is usually a year.

GDP calculated using the expenditure approach = Consumption spending + Investment spending by businesses + Government Spending + Net Export

I hope my answer helps you

4 0
4 years ago
A firm that engages in foreign direct investment (fdi) in other countries is called a(n):_________
Arada [10]

A firm that engages in foreign direct investment (fdi) in other countries is called an international business.

<h3><u>What is foreign direct investments?</u></h3>
  • An entity based in another nation makes an investment in the form of controlling ownership in a company in another country. This investment is known as a foreign direct investment (FDI).
  • Thus, the idea of direct control sets it apart from a foreign portfolio investment.
  • The investment can be done "inorganically" by purchasing a company in the target country or "organically" by expanding the operations of an already-existing business in that nation.
  • The origin of the investment has no bearing on whether it qualifies as an FDI.

In general, "mergers and acquisitions, building new facilities, reinvesting earnings obtained from overseas operations, and intra company loans" are considered to be foreign direct investments.

Know more about foreign direct investments with the help of the given link:

brainly.com/question/27540611

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4 0
1 year ago
An inexperienced accountant for Blue Spruce Corp. showed the following in the income statement: income before income taxes $436,
blsea [12.9K]

Answer:

                       Blue Spruce Corp.

      Statement of Comprehensive Income

Income before income taxes                 $436,000  

Less: Income Tax                                   <u>$139,520</u>

($436,000 * 32%)

Net Income                                              $296,480

Other comprehensive income (loss):

Unrealized gain on available-for-sale     <u>$58,140</u>

securities, net of tax ($85500*68%)  

Total Comprehensive Income                <u>$354,620</u>

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The break even level of sales is <span>$1400</span> +$13*n
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B. GDP takes inflation into account.
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