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pochemuha
2 years ago
11

The ___________ is a statement for the daily business transactions. it includes the list of checks and balances for the office f

or a specific date of service.
Business
1 answer:
Leto [7]2 years ago
8 0

The Date sheet is a statement for daily business transactions. it includes the list of checks and balances for the office for a specific date of service.

A business transaction is an economic event involving a third party that is documented in the accounting system of a company.

Such a transaction needs to have a monetary value. Business transactions include, for example:

In a specific diary, such as a purchasing journal or sales journal, high-volume commercial transactions may be documented.

These journals are used to record business transactions, which are then regularly compiled and submitted to the general ledger.

Transactions with a lower volume are submitted straight to the general ledger. The financial accounts of the company eventually include a summary of these transactions.

A source document must always be used to back up a business transaction. A purchase order, for instance, might be used to facilitate the purchase of items from a supplier and the payment of wages to an employee.

Learn more about business transactions here

brainly.com/question/19959208

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Three documents required by Department of Trade and Industry when registering a private company
Alex Ar [27]
Identification
Incorporation document
Memorandum of Incorporation
4 0
3 years ago
As of December 31, 20X14, Eliot Corp. has net income per books of $100,000, which includes municipal bond interest of $4,000, a
muminat

Answer:

Option (e) is correct.

Explanation:

Taxable Income:

= Net income per book - municipal bond interest + deduction for business meals + deduction for a net capital loss + deduction for federal income taxes

= $100,000 - $4,000 + 50% of $5,000 + $5,000 + $22,000

= $125,500

Eliot Corp.'s current earnings and profits (Current E&P) for 2014:

= Taxable Income + municipal bond interest - deduction for federal income taxes - deduction for a net capital loss

= $125,500 + $4,000 - $22,000 - $5,000

= $102,500

5 0
3 years ago
Tommy bought 35 shares of stock at $45.75 per share. He received dividends of $82.45 during the year. At the end of the year, hi
gogolik [260]

Answer:

10.57%

Explanation:

Return on investment is a profitability measure of gains realized from an investment. It is a ratio that shows how a business uses its resources to generate profits. Return on investment compares the net income against the initial investment.

ROI = Net Income / Cost of Investment

For Tommy,

The initial investment is 35 x $45.75 =$1,601.25

The gains from the investments

Dividends of $82.45

Gains in share value = 35 x ($48. 75 -$45.43)

35 x 2.48 =$86.8

Net gains will be $82.45 + $86.8= $169.25

ROI = $169.25/$1601.25

ROI =0.10569  X 100

=10.57%

5 0
3 years ago
The U.S. Congressional Budget Office has projected the debt-to-GDP ratio to increase dramatically in the future. One of the majo
Viefleur [7K]

Answer:

C.  projected increasing health care costs for the aging population.

Explanation:

If the debt to GDP ration increases, it means that the country will owe more money compared to capacity of creating wealth. A common problem for several developed countries is that the proportion or retired people has increased compared to the total active labor force. This means that the number of people working or searching of jobs relative to the number of retired people has decreased. Even though retired people tend to have more accumulated wealth, their living expenses are also much higher. What makes this situation a problem is that retired people only have passive income, they do not have earned income. And generally speaking, passive income grows at a much lower rate that earned income.

This is why many developed countries started to implement immigration policies focusing on highly trained and educated applicants that can replace their native workforce.

8 0
3 years ago
1. Purchased computers for $20,000 from Data Equipment on account. Select an effect 2. Paid $3,000 cash for May rent on storage
nata0808 [166]

Answer:

The question is not complete.

Here is the complete question:

Keystone Computer Timeshare Company entered into the following transactions during May 2017.

Describe the effect of each transaction on assets, liabilities, and stockholders' equity.

1. Purchased computers for $20,000 from Data Equipment on account. Select an effect

2. Paid $3,000 cash for May rent on storage space. Select an effect

3. Received $15,000 cash from customers for contracts billed in April. Select an effect

4. Performed computer services for Ryan Construction Company for $2,700 cash. Select an effect

5. Paid Midland Power Co. $11,000 cash for energy usage in May. Select an effect

6. Stockholders invested an additional $32,000 in the business. Select an effect

7. Paid Data Equipment for the computers purchased in (1) above.

Select an effect

8. Incurred advertising expense for May of $840 on account.

Here is the answer:

Transaction   Effect on asset, liabilities and equity

  1                  Increase in asset(computer account) by $20,000

                     and increase in liabilities  (account payable) by

                      $20,000

 2                  Decrease in asset(cash account) by $3,000 and

                     decrease in equity (rent expense account) by

                      $3,000

 3.                 Increase in asset (cash account) by $15,000 and decrease in

                      asset (account receivable) by $15,000. Net effect is zero.

 4.                 Increase in asset (cash account) by $2,700 and increase in

                     equity (service revenue account) by $2,700

 5.                 Decrease in asset (cash account) by $11,000 and decrease in

                     equity (Energy expense account) by $11,000

 6.                 Increase in asset (cash account) by $32,000 and increase in

                     equity (common stock account) by $32,000

 7.                 Decrease in asset (cash account) by $20,000 and decrease in

                    liabilities (account payable) by $20,000

8.                 Increase in liabilities (accrued advertising expense) by $840

                    decrease in equity (advertising expense account) by $840

Explanation:

Assets are economic resources of the firm in which future economic benefits are expected to flow to the entity. Liabilities are the entity`s financial obligation to those who are not the owners of the business. Equity is the residual value after deducting am entity`s assets from its liabilities.

With this background, business transactions and events are recorded either as increase or decrease in asset, liabilities and equity.

6 0
2 years ago
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