it should be noted that all accounting systems should be;
- record and summarize financial effects of transactions.
- follow the accounting cycle.
- combine beginning balances with the activity during the accounting cycle to yield the ending balances for each account
<h3>What is an accounting systems?</h3>
An accounting system can be regarded as accounting processes that posses some integrated procedures .
Therefore, accounting systems helps in recording business transactions.
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Answer:
raw materials inventory 58,500 debit
accoutns payable 58,500 credit
Explanation:
Required prepare general journal entries to record the following for 2016. a. purchased materials on account, $58,500.
The raw materials inventory will increase for 58,500 which is the amount purchased. As the materials are an asset, we will debited.
We will also use an account to represent the debt we have with our providor.
We have an "account to pay" --> account payable
As this is a debt, we have a liability. Thus we credit to increase it-
A firm's unwillingness to alter how things are currently done <u>organic specialization insubordination inertia</u>
<h3>What is
inertia?</h3>
When an object experiences inertia, it keeps moving in the same direction or at the same pace until another force changes it. Inertia, as used in Newton's first law of motion, is correctly understood as a shorthand for "the principle of inertia."
Newton presents his first law of motion after a few further definitions. Newton's Latin is directly translated into the word "perseveres" in this sentence. Modern textbooks frequently use less obnoxious words like "to b" or "to remain." The present application results from several modifications made by Euler, d'Alembert, and Newton to the original mechanics (as stated in the Principia).
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A customer service representative loses his job because his company adopted a new software that does most of his job automatically. This is an example of technological unemployment.
<h3>What is technological unemployment?</h3>
This are happen when an individual losses her Job due to the use of technology.
The new technology now handles the works and the service of the individual is no longer require.
Therefore, A customer service representative loses his job because his company adopted a new software that does most of his job automatically. This is an example of technological unemployment.
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