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3 years ago

When a company is using double-entry accounting, what elements of a given ledger must be equal?

1 answer:

5 0

When a company is using double-entry accounting, the elements of a given ledger that must be equal are the debit and the credit. They should reflect the balance of the books. There should be an equal amount in the debit column and in the credit column.

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Gambling is something you should only do if you have discretionary income?

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A. Its true NOT B but its not false.

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2 years ago

Read 2 more answers

Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and

Tamiku [17]

Answer: D. $40,175

Explanation:

The balance in the Capital account reported on the Statement of Owner's Equity will include the Capital contributions of Andrea Apple to the business as well as the Net income from operations also known as Retained Earnings.

The Net Income for the month will be revenue less expenses.

Revenue

$5,700 cash and $2,750 on account for services provided in January.

Revenue is therefore,

= 5,700 + 2,750

= $8,450

Expenses

Expenses include the rent paid of $1,500 and the $275 paid for January Utilities.

= 1,500 + 275

= $1,775

Net Income = Revenue - Expenses

Net Income = 8,450 - 1,775

Net Income = $6,675

The Capital that Mr. Apple brought into the business refers to anything he contributed to the business whether in cash or otherwise.

The Capital therefore is,

- The $13,500 cash and the $20,000 worth of equipment.

The Capital Mr. Apple brought into the business is therefore,

= 13,500 + 20,000

= $33,500

The balance on the capital account will therefore be,

= Capital + Net Income

= 33,500 + 6,675

= $40,175

Option D. is correct.

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2 years ago

The main outputs of which process are a quality management plan, quality metrics, project management plan updates, and project d

Ray Of Light [21]

Answer:

Process asset updates.

Explanation:

Quality assurance assessments, validated modifications, authenticated deliverables, performance at work indicators, configuration management, project management plan modifications, project document security patches, and organisational process asset updates are the key outputs of quality assurance.

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2 years ago

Rangle contracts with Siena to buy a certain horse for her. Rangle makes a deal with Timberline Stables, the owner of the horse,

Ann [662]

Answer: indemnification

Explanation: The indemnification clause is essentially the other party's obligation to compensate your damages if they do something that hurts you or allows you to be sued by a third party.

Indemnifying and keeping innocent means the same thing — making it whole after a defeat. Usually, but not always, the obligation to indemnify is reconcilable with the contractual obligation to "keep harmless" or "save harmless.

Hence from the above we can conclude that Rangle has right of indemnification.

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2 years ago

S&L Computer services has separate divisions to focus on the needs of individual consumers, small businesses, and large busi

prisoha [69]

Answer:

Letter c is correct. Customer.

Explanation:

Departmentalization by customer is a type of grouping that divides organizational activities so that they are effective in meeting and directing organizational strategies to a type of audience that has similar characteristics, such as age, gender, preferences, and income. Each unit has customized characteristics and sales method so that the customer group has a positive perception about the organization and its requirements and needs are properly met.

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2 years ago