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kotykmax [81]
4 years ago
10

In double-entry accounting, what is the difference between debits and credits

Business
1 answer:
Savatey [412]4 years ago
4 0
Debits and credits<span> occur simultaneously in every financial transaction </span>in double-entry bookkeeping<span>. In the </span>accounting<span> equation—Assets = Liabilities + Equity—if an asset account increases (a </span>debit<span>), then either another asset account must decrease (a </span>credit<span>), or a liability or equity account must increase (a </span>credit<span>).</span>
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Two or more products are produced using limited resources. The firm would like to determine how many units of each product it sh
inysia [295]

Answer: Product-mix

Explanation:

From the given case/scenario, we can state that this situation describes the problem of product-mix. Product mix that is also known as or referred to as product assortment, tends to refer to total number of product/commodity lines that an organization offers to an individual or to its customers.There are four dimensions to an organization's product mix, these are length, width, consistency and depth.

3 0
3 years ago
Toyoda Company buys gas pedals and other parts from subcontractors and puts them in its vehicles without changing their composit
julia-pushkina [17]

Answer:

Toyoda and the subcontractors.

Explanation:

According to UCC Article 2, both the manufacturer and the subcontractor are liable for any damage caused by any defects.

This situation happened (and continues to happen) with the Takata airbag recall, where several car manufacturers and Takata were liable for defective airbags. Takata already filed for bankruptcy, so the car manufacturers deal with the recalls themselves. Both of them are liable for the defective airbags even though Takata manufactured them.

3 0
4 years ago
When you compose a message, you want your audience to find the information it needs quickly and to understand it. Your message s
Shalnov [3]

Answer:

Breaking paragraphs into shorter chunks.

Explanation:

A white space is not marked, white space is very important so that a work does not look congested. white spaces improves readability because if their are no white spaces in between sentences or breaking paragraphs into shorter chunks, it becomes very difficult to read.

By chunking a paragraph means to break it down into smaller parts. a paragraph can be chunked into sentence and phrases. Paragraphed can be broken into smaller parts to improve readability.

4 0
3 years ago
Cho owns and operates a store in a country experiencing a high rate of inflation. In order to prevent the value of money in her
Ber [7]

Answer:

Shoe leather costs

Explanation:

(A) Shoe leather costs

(B) Inflation can be defined as the persistent rise in the prices of goods and services. Shoe leather costs can be defined as the costs of time and effort that are encountered by individuals while trying to prevent the effect of inflation. It describes the costs incurred by individuals that visits the bank often inorder to withdraw money needed to purchase goods and services during the time of inflation.

Shoe leather cost arises during the period of high inflation, individuals do not hold large amount of cash because there will be a reduction in the value of the money.

5 0
4 years ago
In year 1, Lawrence Corp. purchased equipment for $100,000. Lawrence uses straight-line depreciation over a 10-year useful life
UkoKoshka [18]

Answer:

$90,000 and $86,000

Explanation:

In year 1, Lawrence Corp. purchased equipment for $100,000. Lawrence uses straight-line depreciation over a 10-year useful life with no residual value for financial reporting purposes.

In year 1, tax depreciation was $14,000. At the end of year 1, the carrying value for accounting purposes is $90,000, and the tax basis is $86,000.

Carrying value = Cost - Depreciation to date = 100,000 - (100.000 cost / 10 years) = $90,000

While tax basis = Cost - Tax depreciation = $100,000 - $14,000 = $86,000

6 0
4 years ago
Read 2 more answers
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