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Galina-37 [17]
3 years ago
8

What effect may result if specific account titles are not used in journalizing? the financial statements may be not be accurate?

Business
1 answer:
lapo4ka [179]3 years ago
8 0
If specific account titles are not used in journalizing<span>, the accountant may be confused in where </span>to credit or debit the specific transaction. Yes, <span>the financial statements may be not </span>be<span> accurate since there is possibility that the transaction was recorded to another account not appropriate for the specific transaction.</span><span> 
</span>
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Why storage forms a key aspect in fruit farming ?​
azamat

Answer:

The goal of storage is to keep them in a dormant state. Once harvested some fruits do not ripen, while others will continue to ripen after harvest because they naturally produce a gas called ethylene.

4 0
3 years ago
4. Dairy Co. sells raw cream directly to the public. Maxwell gets sick after consuming some of Fairy Co.’s raw cream. Maxwell su
Len [333]

Answer:

Maxwell will win this case, as per division 2 of UCC, seller bears the cost for loss under implied warranty of fitness, if the goods do not meet the ordinary purpose or is inefficient.

Explanation:

Given in this case, Maxwell is applying "Universal Commercial Code (UCC)" division 2 provision, which defines all the goods and services.

A movable property, which can be sold from seller to the buyer at certain prices are called goods. Therefore, in this case, "Raw Cream" comes in the definition of goods, as it is directly sold to Maxwell by the grocery shop.

Maxwell will win this case, as per division 2 of UCC, seller bears the cost for loss under implied warranty of fitness, if the goods do not meet the ordinary purpose or is inefficient.

5 0
4 years ago
The narrator spends his days...
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Answer:on edge

Explanation:

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What did the nurse do? She agreed to the quest

What motivated Juliet to make this request? Her desire to marry Romeo

What motivated the nurse to go on this quest? She cares about Juliet's happiness

8 0
3 years ago
Manual Company sells goods to Nolan Company during 2017. It offers Nolan the following rebates based on total sales to Nolan. If
diamong [38]

Answer: See explanation

Explanation:

Based on the information given in the question, we should note that while using the gross method, the revenue gotten from sales will be calculated by subtracting the rebate of 2% from the full invoice amount of $110,000. This will be:

= $110,000 - (2% × $110,000)

= $110,000 - (0.02 × $110,000)

= $110,000 - $2200

= $107800

Using the net method, the revenue gotten from sales will be calculated by subtracting the rebate of 6% from the full invoice amount of $110,000. This will be:

= $110,000 - (6% × $110,000)

= $110,000 - (0.06 × $110,000)

= $110,000 - $6600

= $103400

5 0
3 years ago
Buchanan Company recently was sued by a competitor for patent infringement. Attorneys have determined that it is probable that B
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Answer: Debit: Litigation expense $300,000

Credit: Litigation liability $300,000

Explanation:

Loss contingency is typically a charge to expense for a future occurence in this case, a lawsuit. A loss contingency simply makes the economic entity to be aware at an early stage of the loss and its likely financial implication.

The entries that Buchanan should record to recognize this loss contingency will be to:

Debit: Litigation expense $300,000

Credit: Litigation liability $300,000

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3 years ago
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