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4 years ago

APEX : Which of the following would appear in the Debits column of a bank statement for a checking account?

Business

2 answers:

Fantom [35]4 years ago

6 0

Answer:

An online bill payment isn't an option for my apex test.

The second answer is ATM Withdrawal.

Explanation:

I'm doing Apex right now.

Deffense [45]4 years ago

3 0

Answer: an online bill payment

Explanation:

I’m doing apex and it shows that the correct answer is an online bill payment

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Beginning inventory $ 34,000 Inventory purchases (on account) 164,000 Freight charges on purchases (paid in cash) 19,000 Invento

sukhopar [10]

Answer:

Journal entries - Perpetual inventory system

Inventory purchases (on account) 164,000

Inventory $ 164000(debit)

Trade Payables $ 164000 (credit)

Freight charges on purchases (paid in cash) 19,000

Freight Charges $ 19000 (debit)

Bank $19000 (credit)

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Inventory $19000 (debit)

Freight Charges $ 19000 (credit)

Inventory returned to suppliers (for credit) 21,000

Trade Payable $ 21000 (debit)

Inventory $21000(credit)

Sales (on account) 259,000,

Trade Receivables $ 259000 (debit)

Revenue $259000(credit)

Cost of inventory sold 157,000

Cost of Sales $157000 (debit)

Inventory $157000 (credit)

Journal entries - Periodic inventory system

Inventory purchases (on account) 164,000

Inventory $ 164000(debit)

Trade Payables $ 164000 (credit)

Freight charges on purchases (paid in cash) 19,000

Freight Charges $ 19000 (debit)

Bank $19000 (credit)

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Inventory $19000 (debit)

Freight Charges $ 19000 (credit)

Inventory returned to suppliers (for credit) 21,000

Trade Payable $ 21000 (debit)

Inventory $21000(credit)

Sales (on account) 259,000,

Trade Receivables $ 259000 (debit)

Revenue $259000(credit)

Cost of inventory sold 157,000

Cost of Sales $157000 (debit)

Inventory $157000 (credit)

Explanation:

Inventory purchases (on account) 164,000

Recognise an Asset - Inventory and a liability - Account payable

Freight charges on purchases (paid in cash) 19,000

Recognise an expense - Freight Charges and de-recognise asset - Bank

*****Freight Charges forms part of cost of Inventory (IAS 2) therefore write off freight cost to Inventory Account****

Derecognise expense- Freight and recognise an asset - Inventory

Inventory returned to suppliers (for credit) 21,000

De-recognise Asset - Inventory and De-recognise Liability - Account Payable

Sales (on account) 259,000,

Recognise Asset - Trade Receivable and Recognise Revenue

Cost of inventory sold 157,000

Recognise expense - Cost of Sale in Profit and Loss and De-recognise Asset- Inventory

6 0

3 years ago

f the unemployment rate is 8 percent, this means: a. 8 percent of the population is unemployed. b. 8 percent of the population o

hodyreva [135]

Answer:

c. 8 percent of the labor force is unemployed.

Explanation:

The Unemployment Rate measures the percentage of the total labor force that is unemployed while actively seeking employment during the previous month. If the unemployment rate is 8 percent, this means 8 percent of the labor force is unemployed. That also means, out of all the people actively seeking employment during the previous month, 8 percent are still unemployed or jobless.

3 0

3 years ago

An office management firm has developed a system for efficiently organizing small medical and dental practices both through prop

Olegator [25]

Answer:

The answer is option C. achieve economies of scope.

Explanation:

An Economies of scope is a proportionate saving gained by producing two or more distinct goods, when the cost of doing so is less than that of producing each separately.

Based on the scenario portrayed in the question, the office management firm is hoping to achieve economies of scope.

6 0

3 years ago

Read 2 more answers

Kevin Abt noticed that people were cooking meals in their homes less often but wanted to avoid the hassle of going out to eat. T

masha68 [24]

Answer:

Opportunity.

Explanation:

There was an opportunity presented when Kevin noticed that people do not want to cook at home but also they do not want to go through the hassle of going out to buy food. A need was identified and the solution was the Takeout Taxi initiative that delivers restaurant-prepared food to customers.

Costumers that did not want to cook at home and did not want to go out were now satisfied by this service.

5 0

3 years ago

Read 2 more answers

What is one drawback shared by both monopolies and oligopolies?

garik1379 [7]

Answer:A.They can harm consumers by fixing prices.

3 0

3 years ago