All categories

1 year ago

Accounts that keep a balance of each individual customer or supplier are called?

Business

1 answer:

Dafna11 [192]1 year ago

3 0

Accounts that keep a balance of each individual customer or supplier are called subsidiary accounts.

An accounts receivable subsidiary ledger is an accounting ledger that suggests the transaction and price history of every customer to whom the commercial enterprise extends credit score. The stability in every client account is periodically reconciled with the bills receivable balance inside the well-known ledger to make certain accuracy.

An income journal is a subsidiary ledger used to save distinct income transactions. Its most important reason is to put off a source of high-extent transactions from the general ledger, thereby streamlining the general ledger.

The income journal (also referred to as income book and sales day e book) is a special journal that is used to record all credit score income.

Learn more about accounts here: brainly.com/question/4656883

#SPJ4

You might be interested in

An entrepreneur takes a risk to create a new product or a better way to operate a business (true.false?)

saw5 [17]

That is true. Hope it helps :)

7 0

3 years ago

If the number of buyers of a good increases, the demand for the good will _____ and the demand for labor used to produce that go

Fiesta28 [93]

If the number of buyers of a good increases, the demand for the good will increase and the demand for labor used to produce that good will normal.

The logic behind the demand and supply model is straightforward. The volume of a specific commodity or service that consumers will be able and willing to buy over time at each price is shown by the demand curve.

The supply curve depicts the volume of goods that merchants will offer for sale over that period at various prices.

We should be able to determine a price where the quantity of items buyers are willing and able to buy equals the quantity of goods sellers are willing to offer for sale by combining the two curves.

To learn more about Demand And Supply Model here

brainly.com/question/12984251

#SPJ4

4 0

2 years ago

This year, Herb Partnership generated $740,000 ordinary business income. Herb has two equal partners: Savory LLC and Sweet Corp.

nekit [7.7K]

No equivalent fraction of the equation is instructions to follow and analyze the diagram below the complete 5509 50 507MLG equals 43.6%, MLI equals 46.4%, GH equals $35.81 calls equals style equation to the 4396 equals I’m

7 0

3 years ago

When the government provides free and reduced lunches to low-income students, it is addressing which type of market failure

Mkey [24]

A positive externality is when a good or service is produced and used in a way that benefits a party that is not directly involved in the market transaction.

<h3>What are the reasons for the Market Failure?</h3>

Externalities, public goods, market regulation, and a lack of knowledge are all possible causes of market failure. Market failures can be resolved through government involvement, such as new legislation, taxes, tariffs, subsidies, or trade restrictions.

The complete question is shown in the file attached below:

Thus, providing free and reduced lunches to low-income students by the government is a situation of positive externality where no directly involved in the market transaction.

Learn more about Market Failure here:

brainly.com/question/13123538

#SPJ1

7 0

2 years ago

Todrick Company is a merchandiser that reported the following information based on 1,000 units sold:

jenyasd209 [6]

Answer:

3. Sales Price 435 per unit

4. Variable cost $ 348 per unit

5. Contribution margin $ 87 per unit.

6. Contribution Format Income Statement

Explanation:

Todrick Company

Contribution Format Income Statement.

Sales $435,000

Beginning merchandise inventory $29,000

Purchases $290,000

Ending merchandise inventory $14,500

Direct Materials Used 304,500

Variable selling expense $ 21,750

Variable administrative expense $ ? 21750

Contribution margin $87,000

Fixed selling expense $ ? 43,500

Fixed administrative expense $17,400

Net operating income $26,100

Todrick Company

Traditional Format Income Statement.

Sales $435,000

Beginning merchandise inventory $29,000

Purchases $290,000

Ending merchandise inventory $14,500

Direct Materials Used 304,500

Gross Profit $ 130,500

Less Selling And Admin. Expenses.

Variable selling expense $ 21,750

Fixed selling expense $ ? 43,500

Variable administrative expense $ ? 21750

Fixed administrative expense $17,400

Net operating income $26,100

3. Sales Price Per unit = Total Sales/ Total Sales Units

= $435,000/1000= $ 435 per unit

4. Variable cost per unit= Total Variable Costs/ No of Units=

= 304,500 + 43,500/1000

= 348,000/1000= $ 348 per unit

5. Contribution margin per unit= Contribution Margin / No of Unit

= $87,000/1000= $ 87 per unit.

6. Contribution Format Income Statement is more useful as it changes with the number of units varied. Traditional may not show the change that accurately as fixed expenses do not change with the change in the number of units.And in contribution margin income statement the variable expenses are accounted for separately.

4 0

3 years ago