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4 years ago

What is financial accounting with example

Business

1 answer:

miskamm [114]4 years ago

7 0

Answer:

Financial accounting refers to recording and organizing these transactions into categories in order to prepare financial statements. All financial statements must be recorded in accordance with GAAP ( generally accepted accounting principles). Examples of financial statements include : income statement and balance sheet.

example:

sold a motor vehicle for $10000 and received cash

under non-current assets - motor vehicle decreases by 10000

under current assets - cash increases by 10000

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The independent variable in the Situational school of leadership is: a. Maturity of the followers b. Clarity of the task c. Time

zlopas [31]

Answer:

Maturity of the followers, clarity of the task, organizational support of the leader

Explanation:

Situational leadership takes into account the situational factors that are attached to the task of the leader. This type of leadership style does not take a one size fits all approach or a universal style of leadership, and therefore pays attention to factors such as relationship with members of the team, type of task etc. The above are factors that determine leadership style. Time horizon is not one of them. Another factor not included in the options is the relationship of the team or group members with the leader.

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3 years ago

Purchasing, sales, and merchandising are all related careers. What do they have<br> in common?

podryga [215]

Explanation:

They all have a cycle, and have something to do with money. The merchandisers promote the items, people sell them , and purchasers buy them. Simple.

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3 years ago

Read 2 more answers

Inventory items with a cost of $3090 were excluded from ending inventory. These goods were in transit from Flores company to Bar

Dovator [93]

Answer:

the journal entry to record this adjustment would be:

December 31, 202x, adjustment to merchandise inventory

Dr Accounts payable 3,090

Cr Merchandise inventory 3,090

When goods are purchased FOB destination, the title of the goods passes only after the goods have been delivered to the buyer. Also, freight costs should be paid by the seller. When goods are purchased FOB shipping point, the title of the goods passes after the goods leave the seller's dock, they are considered property of the buyer even if they haven't arrived yet. Freight costs are generally paid by the buyer.

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3 years ago

Please subscribe to me on you tube the channel is : Kallen Buzzard it would mean bunches!! God Bless Everyone!!!

Olenka [21]

Answer:

1+1==0000000000

Explanation:

ok i did

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3 years ago

On January 1, 20X1, Jennifer purchases common stock of Gamma Corporation for $100,000. During the year, Gamma Corporation stock

mars1129 [50]

Answer:

Explanation:

Return on investment (ROI) is a very popular and simple profitability ratio used by financial and business analyst to test the profitability or otherwise of an investment. It is always calculated by dividing the net income by the Cost of Investment, expressed as a percentage.

ROI = (Net Income / Cost of Investment) x 100%

Net Income = Capital gain + dividend received

Capital gain = Sales of stock - Cost of stock

= $104,000 - $100,000 = $4,000

Dividend = $3,000

Net Income = $4,000 + $3,000 = $7,000

Cost of Investment = $100,000

ROI = ($7,000 / $100,000) x 100%

ROI = (0.07) x 100%

ROI = 7%

Therefore, the return on investment of the Gamma stock is 7%.

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3 years ago