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3 years ago

"the accounts receivable account goes up when a shipment is sent."

1 answer:

5 0

<span>Accounts receivable is money or payment held by a business for goods supplied and/or services rendered that customers/clients have ordered but not paid. In this case they already have balance amount to be paid, again they are sending new shipment. so account receivable will go up automatically.</span>

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Two items are omitted from each of the following summaries of balance sheet and income statement data for two proprietorships fo

bulgar [2K]

Answer:

The solution according to the given query is provided below.

Explanation:

The given question seems to be incomplete. The attachment of the complete query is provided below.

Now,

The additional investment will be:

= $Ending \ owner's \ equity-Beginning \ owner's \ equity+Drawings-Net \ income$

By putting the values, we get

= $40000-25000+37000-45000$

= $7,000$

Now,

The drawings will be:

= $Ending \ owner's \ equity-Beginning \ owner's \ equity+Additional \ investment-Net \ income$

By putting the values, we get

= $130000-80000-25000-40000$

= $-15,000$

3 0

3 years ago

Acme company has just completed the incorporation process and received its articles of incorporation from the state. at the firs

lana66690 [7]

The answer is adopting bylaws. In addition, unlike the articles of incorporation the bylaws are not public records and classically do not have to be gather in a line with any governmental unit. The bylaws will be accepted by the directors of the corporation at their first board meeting or accepted by the deed of incorporator and then accepted at the first board conference.

6 0

3 years ago

Accounts receivable: Select one: A. are reported on the income statement. B. arise from the purchase of goods or services on cre

Elena-2011 [213]

Answer:

Option (D) is correct.

Explanation:

Accounts receivables refers to a term that is used by the businesses when a company sells the goods on account or credit to its customers and customers promise to pay this amount at a later date. The accounts receivable is shown under the current assets. When a company receives the amount of receivables then it will increases its cash and decreases the accounts receivables.

5 0

3 years ago

If there are no excess reserves in the banking system and the Fed lowers the required reserve ratio, it follows that banks will

blagie [28]

Answer:

Excess reserves

Explanation:

Money supply in the economy is regulated by the central bank of Federal Reserve through various methods.

One of them is the use of reserve ratio.

Reserve ratio is the percentage of total deposit in a bank that commercial banks are required to keep aside and not use.

If there is no excess reserves and the Fed lowers required reserve ratio, it means banks will now have more money they can use to service customers.

The excess excess of the reserve can now the used to give out loans

3 0

3 years ago

the factor which determines whether or not goods should be included in a physical count of inventory is

quester [9]

Answer is : legal title

The factor which determines whether or not goods should be included in a physical count of inventory is:

a. legal title.
b. whether or not the purchase price has been paid.
c. management's judgment.
d. physical possession.

a. legal title

7 0

2 years ago