Is a financial metric that indicates how efficient a business is at managing its operations. It is a ratio that indicates the performance of a company's sales based on the efficiency of its production proces
Answer:
Sep 11
Dr Cash 590.00
Cr Sales 590.00
Dec 31
Dr Warranty expense 59.00
Cr Estimated warranty liability 59.00
July 24
Dr Estimated warranty liability 41.00
Cr Repair parts inventory 41.00
Explanation:
Home Store Journal entry
Sep 11
Dr Cash 590.00
Cr Sales 590.00
Dec 31
Dr Warranty expense (590*10%) 59.00
Cr Estimated warranty liability 59.00
July 24
Dr Estimated warranty liability 41.00
Cr Repair parts inventory 41.00
Answer:
No, the project will not bring in enough benefit to cover the costs.
Explanation:
In a project or business enterprise there is a need to do a cost-revenue analysis with the aim of maximising profit.
If the revenue generated by a project is more than the cost, then it is viable and profitable.
However if the revenue is less than cost then the project will not be sustainable.
In the given scenario the clean up project is estimated to cost the tax payers an additional $15,000.
The city will have an estimated revenue of $12,000 from the highway being cleaned.
As the revenue is less than the cost it is better to discontinue the project.
Answer:
ASSETS = LIABILITIES + EQUITY
75,000 = + 75,000
(1,500) = + (1,500)
10,000 = 10,000 +
2,500 = + 2,500
8,000 = + 8,000
- = +
(3,000) = + (3,000)
- = +
(10,000) = (10,000) +
(1,000) = + (1,000)
80,000 = 0 + 80,000
Explanation:
Accounting equation is the foundation of dual entry bookkeeping system. It is also known as the balance sheet equation that shows the relationship between ASSSETS, LIABILITIES AND EQUITY. Total assets must be equal to total liabilities + Equity due to the dual entry system otherwise, it is an indication of descrepancy in during the recording.