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tekilochka [14]
3 years ago
14

Assuming normal balances, which of the following statements is not true for T accounts? a.The excess of the credits of a liabili

ty account over the debits is the balance of the account. b.The excess of the credits of an asset account over the debits is the balance of the account. c.The excess of the credits of a stockholder's equity account over the debits is the balance of the account. d.The excess of the debits of an expense account over the credits is the balance of the account.
Business
1 answer:
Harlamova29_29 [7]3 years ago
5 0

Answer:

B. The excess of the credits of an asset account over the debits is the balance of the account.

Explanation:

The normal balance of an <u>Asset is DEBIT</u>.

So saying that the excess of the credits over the debits will be the balance of the account is not true.

Choice A is true since Liabilities are normally credits.

Choice C is also true since stockholder's equity are normally credits.

Lastly, Choice D is true because Expenses are normally credits.

You might be interested in
Why do you think that luxury brands are particularly interested in investing in social media influencers?.
cestrela7 [59]

Answer:

I think they are interested because partially social media influencers have a younger audience so when they see their "idol" promoting such and such there more like to want it, Also  They can lend luxury brands a voice of authenticity and have the potential to produce original brand materials.

Explanation:

Because everyone thinks they can have it because an influencer got one

        Hope this helps :)

7 0
3 years ago
Kuzma​ Foods, Inc. has budgeted sales for June and July at $ 680 comma 000.00 and $ 720 comma 000.00​, respectively. Sales are 8
atroni [7]

Answer:

The budgeted Accounts Receivable balance on July​ 31 is $ 244,800.

Explanation:

Since the company sells 85% credit of which 60% is collected in the month of sale and 40% in the following month. This implies that where the sales for the month of June is $ 680,000, all of the credit sales for the month of June would have been collected by 31 July. Hence no receivables will be budgeted for considering June sales by 31 July.

For sales to be made in July budgeted at $ 720,000, 85% will be credit sales

This amounts to

Credit sales for July = 85% of 720000

                                  = \frac{85 * 720000}{100}

                                  = $ 612,000

60% of the credit sales in the month of July will be collected by 31 July while 40% will be collected in the following month hence,

Accounts Receivable balance on July​ 31

= 40% of 612000

= \frac{40 * 612000}{100}

= $ 244,800

6 0
3 years ago
Why does a price floor lead to surpluses?  Why does a price ceiling lead to shortages?  ​
Degger [83]

Answer:

Shortage: there is more demand than there is at the equilibrium price. There is also less supply than there is at the equilibrium price, thus there is more quantity demanded than quantity supplied.

Your pretty much short in supply and cant fulfill the demand

While surplus

When a price floor is set above the equilibrium price, quantity supplied will exceed quantity demanded, and excess supply or surpluses will result.

Theirs a a large amount of supply due to the pricing most likely beign high

Explanation:

7 0
3 years ago
Dwjhbc,skugwhdcjgszhncdx ajhgcshanvcjut57725352371888886523e7yvhagayvx7565
Elden [556K]

Answer:the answer is... Wdsdftghyfeefvefvdcdfdf+A+&y43

Explanation:you are an "A" to the first letter and that's "D" there ya go

8 0
3 years ago
In the long run, the competitive firm's supply curve is the a. entire marginal-cost curve. b. portion of the marginal-cost curve
Mars2501 [29]

The long run will see the supply curve of a completive firm changing to the b. portion of the marginal-cost curve that lies above the average-total-cost curve.

<h3>What is the long-run supply curve in a perfect competition?</h3>

In a perfect competition, a company will only produce goods and services at a level where the marginal cost curve is above the average total cost in the long run.

This means that the supply curve will be the marginal cost curve but only the portion of this curve that is above the long-run average total cost curve.

The reason for this is that in the long-run., all the costs in a perfectly competitive firm are considered variable and so they can afford to avoid supply mishaps in the short term.

In conclusion, option B is correct.

Find out more on the long-run supply curve at brainly.com/question/15869064

#SPJ1

6 0
1 year ago
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