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3 years ago

Given the following list of accounts with normal balances, what are the trial balance totals of the debits and credits?

Business

1 answer:

Alexeev081 [22]3 years ago

7 0

Please see attached image to see the given data.

The trial balance totals of the debits and credits are $2,250 debit, $2,250 credit.

<span>$1000 (cash) + $500 (Equipment) + $750 (Salaries Expense) = $2,250 Debit

$350 (Accounts Payable) + $900 (Capital) + $1000 (Service Fees) = $2,250 Credit</span>

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Which system supports business processes end to end? group of answer choices management system accounting system enterprise syst

aev [14]

Enterprise System supports business processes end to end? group of answer choices management system accounting system enterprise system functional structure document system.

Enterprise system basically helps in taking care of all the operations as well as processes of the organisation.

What is Enterprise system?

These are said to be known as the software packages used by the organisations which helps them in controlling as well as managing the complex processes as well as operations of the enterprise.
This system leads to better performance, better accuracy as well improvement in coordination, planning, etc.
It also helps in having easier access as well as coordination in the management systems and also leads to enhanced reports of the organisation.
The three basic types of enterprise system include:
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2 years ago

The manager of the marketing team has thoughtfully selected team members with their strengths in mind to play roles based on the

hodyreva [135]

Answer:

The correct option is advisor.

Explanation:

In business, advisors can be described as persons who evaluate circumstances and suggest options as what could be done during different circumstances. These options are suggested for the benefit of the company and to lead it towards success. An advisor usually evaluates the business plan for a company.

In the above-mentioned scenario, Andy is entitled to evaluate particular situations and provide better options, hence she is playing the role of an advisor.

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3 years ago

Read 2 more answers

Supply-side policies have proven that smaller government makes the economy more efficient. Select one: True False

scoundrel [369]

Answer:

The given statement is "False".

Explanation:

Supply-side policies include those strategies that increase the economic ability of an enterprise as well as the ability to manufacture. To increase supply-side efficiency, there are also many specific steps that somehow an authority may undertake.
Any strategy that increases the economic capacity of a nation's infrastructure and therefore its ability to transfer should be under the supply-side legal framework.

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3 years ago

KTZ manufactures and distributes cutting edge hockey equipment. It has decided to streamline some of its operations so that it w

Nady [450]

Answer:

Consider the following explanations and calculations

Explanation:

part 1

a) KTZ sold an office building for $85,000 in cash. It originally bought the office building seven

years ago for $59,000 and has taken $14,000 in depreciation.-

Ans- Bookvalue on date of sale= $59000- $ 14000= $ 45000

Profit on sale of office building= $85000- $45000= $40000

As per section 1231, out of profit of $40,000, amount of $14000, i.e till the amount of depreciation will be an ordinary income and $26000 (40000-14000) will be considered capital income.

KTZ sold another machine for $6,200. It originally purchased this machine six months ago for

$9,000 and has claimed $1,230 in depreciation expense against the asset.

Ans- As the asset was held for less than one year, the provision of section 1230 will not apply. Thus, the loss will be treated as ordinary loss. The amount of ordinary loss =cost-depreciation-salesprice=9000-1230-6200= $1570

KTZ sold some of its inventory for $5,000 cash. This inventory had a basis of $8,000

Ans-Section 1230 will not be applied to inventories. Thus ordinary profit of $3000 (8000-3000) will be considered.

KTZ held stock in XYZ Corp., which had a value of $19,000 at the beginning of the year. That

same stock had a value of $25,230 at the end of the year.

Ans- Stock is treated as lower of market value or cost, hence no treatment, willl be shown at $19000

KTZ sold a machine that it used to make computerized dies for $26,300 cash. It originally bought

the machine for $16,200 three years ago and has taken $4,000 depreciation

Ans- Bookvalue of computer- 16200-4000= $12,200

Profit= 26300- 12200= $14100

As per section 1231, out of profit of $14,100, amount of $4000, i.e till the amount of depreciation will be an ordinary income and $10100 (14100-4000) will be considered capital income.

part 2

Net section 1231 gain=26,000 + 10100= $ $36100

Ordinary gain= 14000+3000+4000= $21000

Ordinary loss= $ 1570

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3 years ago

Gwen inherited 100 shares of supershoes stock when her mother died on october 21, 2015; the fair market value of the stock was $

Dafna1 [17]

Answer: Gwen should report a $3,000 long-term capital gain in her income tax return.

In this question the price paid by Gwen’s mother for the shares is irrelevant because of her death.

The stock’s fair market value ($20) when Gwen inherited the shares (21st October 2015) is Gwen stepped up value.

Gwen’s gain from selling the shares is:

$Gain / (Loss) = (Selling Price per share - Stepped up value per share) * Number of shares$

$Gain = (50 - 20) *100$

$Gain = $3,000$

Gwen inherited the shares on (21st October 2015) and held the shares until (3rd july 2017), so she held the shares for more than one year after inheriting it. So, she will report a long-term capital gain on her income tax return.

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3 years ago