All categories

3 years ago

In recording business transactions, evidence that an accounting transaction has taken place is obtained from

1 answer:

6 0

In recording business transactions, evidence that an accounting transaction has taken place is obtained from source documents. A source document is the first and origional way that transactions are entered for an accounting system. Everything in the source documents then gets transferred into a companies accounting system and stored for later use. The first and original documents are the source documents because they are the source of where the first transactions were recorded.

You might be interested in

What is the effect of a buyer’s failure to comply with the statute of limitations recognized by the Uniform Commercial Code for

lubasha [3.4K]

Answer:

The buyer has agreed to waive his warranty rights by agreeing the clause of waiving the warranty rights under the contract.

Explanation:

If the buyer and the seller agrees on the term that the risks and the rewards coming onwards would belong solely to the buyer and there will be no warranty claims acceptable related to this product. This is the limitation of the application of the Unifrom Commercial Code.

8 0

3 years ago

DJ Company, a manufacturer, uses the indirect method for preparing its statement of cash flows. The company has provided the fol

guajiro [1.7K]

Answer:

$304,000

Explanation:

Calculation to determine How much was DJ's net income

Net cash inflow from operating activities ($262,000)

Less Account spayable decrease ($26,000)

Less Prepaid asset increase ($20,000)

Add Depreciation expense $32,000

Add Accounts receivable decrease $26,000

Add Loss on sale of depreciable asset $21,000

Add Wages payable increase $15,000

Less Unearned revenue decrease $21,000

Add Patent amortization expense $15,000

Net income $304,000

Therefore DJ's net income is $304,000

4 0

3 years ago

Your total cash income is $80,000. You pay $8,000 in taxes and $60,000 in other expenses. Your savings ratio is

inessss [21]

$12,000 if i am correct

4 0

3 years ago

What is a subsidy wedge? the combined reduction in consumer surplus and producer surplus that results from a subsidy the amount

solmaris [256]

Answer:

the difference between the price that sellers receive and the price that buyers pay, resulting from a subsidy government cheese.

Explanation:

In Economics, subsidy can be defined as the amount of money or benefits such as tax reduction given by the government to sellers in order to sustain production and enable the buy to continuously purchase the product.

A subsidy wedge can be defined as the difference between the price that sellers receive and the price that buyers pay, resulting from a subsidy government cheese.

8 0

3 years ago

The first three steps to allocating manufacturing overhead are taken before the year begins and include all of the following exc

maks197457 [2]

Answer: D. Allocating some manufacturing overhead to each individual job

Explanation:

The first three steps to allocating manufacturing overhead are taken before the year begins does not involve allocating some manufacturing overhead to each individual job as this would affect the manufacturing process.

5 0

3 years ago