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1 year ago

Identifying the effects of a transaction

Business

1 answer:

Triss [41]1 year ago

5 0

Answer: All transactions are recorded in the books of accounts on the basis of the dual-aspect concept.

Explanation: A transaction is a completed agreement between a buyer and a seller to exchange goods, services, or financial assets in return for money. The term is also commonly used in corporate accounting. In business bookkeeping, this plain definition can get tricky.

Thus, every transaction affects at least two accounts in opposite directions. There can be no transactions in a business that affect only one account or have only one aspect because the double-entry system of accounting is followed while recording the transactions in the books of accounts. For example, if furniture is purchased for cash, the transaction will affect two accounts. i.e. Furniture A/c, as furniture is increased and Cash A/c as cash is decreased.

Each transaction has two effects on a balance sheet - one that increases an asset and one that decreases a liability. These two effects cancel each other out, so the balance sheet always remains in balance.

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dmitriy555 [2]

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3 years ago

Subordinated debentures Group of answer choices are the safest form of corporate bonds. are financial assets held in trust by a

navik [9.2K]

Answer:

have a lower claim on assets than simple debentures

Explanation:

Subordinated debenture have a lower claim on asset than simple debentures.

They are a form of debt or loan without any security and occupy the bottom in the scale of debt repayment.

Subordinated debentures represent an investment with higher risk due to lack of security or backing collateral, but as expected, they come with higher returns when compared to their unsubordinated counterparts.

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4 years ago

Hich occurs during digestion?

kicyunya [14]

Answer:

Digestion can be either chemical or physical - physical digestion occurs when you chew food in your mouth (mastication) or chemical when it is broken down in the stomach (via HCl), just to give a few examples. There are many examples of both chemical and physical digestion.

Explanation:

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3 years ago

On July 8, Ray Inc. sold 100 printers to Office Rental Company at $600 each and offered a 2% discount for payment within 10 days

krek1111 [17]

Answer:

B. Cash 58,800 Accounts Receivable 58,800

Explanation:

Sale of 100 printers to Office Rental Company at $600 each and offered a 2% discount for payment within 10 days

Is Recorded as

Trade Receivable $ 58,000 (debit)

Revenue $58,000 (credit)

Being Recognition of an Asset - Trade Receivable and Recognition of Revenue less sales discount

On payment of full payment transaction is recorded as

Cash $ 58,000 (debit)

Trade Receivable $58,000 (credit)

Being De-recognition of Asset - Trade Receivable and Recognition of Revenue

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4 years ago

When the policies of a non-profit organization and the beliefs or policies of a donor do not match or are contrasting, it leads

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When the policies of a non profit organization and the beliefs or policies of a donor do not match or are contrasting, it leads to a conflict.

There are a variety of policies that non profit organizations must follow in order to remain operational. These policies include financial policies, fundraising policies, and policies regarding the distribution of resources for a non profit.

Non profit organizations must be careful to adhere to these policies, as any deviations could jeopardize their tax-exempt status. Additionally, non profit organizations must be transparent in their policies and procedures, as this is essential to maintaining the public's trust and support.

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2 years ago