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.

You might be interested in

For each price in the following table, calculate the firm's optimal quantity of units to produce, and determine the profit or lo

algol13

Answer:

This firm's Shut down price, That is, the price below which it is optimal for the firm to shut down is $40.

Explanation:

Shut down point is the point at which a firm or business is not able to gain any profit or benefit from the operations. Firm try to stay in the market until they reach the shut down point in business. It is a point where a business revenue just covers the variable expenses.

5 0

3 years ago

Give an example of a situation in which a surplus of a product led to decreased prices. similarity, give a example of a situatio

andrew11 [14]

Answer:

Give an example of a situation in which a surplus of a product led to decreased prices. similarity, give a example of a situation in which a shortage led to increased prices. what eventually happened in each case? why?

In the course of having surplus of a product which decreases the price, this happens as a result of high competition as there many people selling the same products which in turns leads to crash in price in order to make sales and little profit.

while product shortage or scarcity happens as a result of decrease in resources or decrease in supply, hence; results into scarcity of products which eventually aids increment of price

Explanation:

3 0

3 years ago

A bank advertises a 3/1 ARM at 4.65% with a 3/9 cap. . . What is the maximum interest rate that can be charged during the fifth

IRINA_888 [86]

"a 3/1 ARM" means starting at a fixed interest rate for the first 3 years and the interest rate will adjust every year after the first three years up to the part where it mentions a "3/9 cap". This on the other hand tells us that the increase will be 3% each time there is an interest rate increase and the max increase is 9%. Hence the answer is 9%

8 0

3 years ago

____ occurs when soldiers or employees follow questionable orders, such as when nurses willingly follow a physician's order to g

harina [27]

_
BLIND OBEDIENCE occurs when soldiers or employees follow questionable orders, such as when nurses willingly follow a physician's order to give a patient a dangerously high dosage of medication.

5 0

3 years ago

Riverside Ranch is a horse breeding facility. Dynasty Stables is a customer looking for a new stallion for its breeding program.

marshall27 [118]

Answer: a. an express warranty

Explanation:

An EXPRESS WARRANTY refers to spoken or written promises or guarantees made by the seller about the performance of a product when negotiating with a buyer.

For example, "this product is guaranteed against wear and tear for at least 2 years".

Roy Mustang in this scenario made an explicit promise about the effectiveness of the Stallion and as such that constitutes an EXPRESS warranty.

It is worthy of note that for Express Warranties, the word Warranty does not even need to be included for the promise to be a warranty.

5 0

3 years ago