On January 15, the owner of a sole proprietorship withdrew $2,000 cash for personal use from the business. This entry will be posted to the ledger as explained below.
A ledger is an accounts book or collection that records accounting transactions.
- Each account has an opening or carry-forward balance.
- Each transaction would be recorded as a debit or credit in separate columns, as well as the ending or closing balance.
The ledger is a permanent summary of all amounts recorded in supporting journals, which record individual transactions by date.
Every transaction always passes through a journal and into one or more ledgers.
The company's financial statements are developed from ledgers' summary totals.
Since the proprietor withdrew cash in the given case, it will lead to a decrease in cash and his equity.
Since we will assume he is withdrawing to invest elsewhere.
Therefore, a decrease in cash will be shown by posting $2000 on its credit side, and subsequently, a decrease in capital/equity will be shown by posting $2000 on its credit side.
Hence, this entry is posted to the ledger by decreasing both cash and equity/capital accounts with the same amount which is $2,000.
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Answer:
If the aggregate supply—also referred to as the short-run aggregate supply or SRAS—curve shifts to the right, then a greater quantity of real GDP is produced at every price level. If the aggregate supply curve shifts to the left, then a lower quantity of real GDP is produced at every price level.
Explanation:
A shift in aggregate supply can be attributed to many variables, including changes in the size and quality of labor, technological innovations, an increase in wages, an increase in production costs, changes in producer taxes, and subsidies and changes in inflation.
In summary, aggregate supply in the short run (SRAS) is best defined as the total production of goods and services available in an economy at different price levels while some resources to produce are fixed... As prices increase, quantity supplied increases along the curve.
Answer: $1,400,000
Explanation:
The checks to creditors were only mailed out in January so the creditor accounts had not been settled in December.
The goods purchased on December 28 should be included in the accounts payable account.
The goods that were shipped FOB Destination and were not yet delivered at year end will not be accounted for because FOB destination means that Dole will only take ownership when it reaches them.
Accounts payable is therefore:
= 900,000 + 350,000 + 150,000
= $1,400,000
I whould say cumunication skills hope this helps
Answer:
87 because he
Explanation: add then multiply;
