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3 years ago

In a general ledger, credits always go on the

Business

2 answers:

Alenkasestr [34]3 years ago

6 0

Answer:

The correct answer would be, Credit always goes on the right side.

Explanation:

General Ledger is the set of accounts that businesses keep and maintain to have a record of their financial transactions. These ledger accounts help the accountants to make the financial statements and reports of the organization. Each account contains full detail about the specific account title. For example there would be a general ledger of Cash and this ledger will record all cash related transaction, and in the end will tell you the balance of cash account.

The format to write the ledge is to make a T account, and write Debit on the left side and credit on the right side, and record the transactions.

elena-s [515]3 years ago

3 0

Answer:

And for anyone wondering, debits go one the right.

Explanation:

"In a general ledger, debits always go on the left and credits always go on the right."

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The following information relates to the pension plan for the employees of Turner Co.: 1/1/20 12/31/20 12/31/21 Projected benefi

Reptile [31]

Answer:

The amount of AOCI (net gain) amortized in 2021 is $26,250

Explanation:

In order to calculate the calculate the amount of AOCI (net gain) amortized in 2021 we would have to use the following formula:

amount of AOCI (net gain) amortized in 2021=(AOCI net gain 12/31/20-Corridor amount for 2021)/Average remaining service life

AOCI net gain 12/31/20=$1,512,000

Corridor amount for 2021=$1,092,000=10,920,000*10%

Average remaining service life=16

Therefore, AOCI (net gain) amortized in 2021=($1,512,000-$1,092,000)/16

AOCI (net gain) amortized in 2021=$26,250

5 0

3 years ago

During the month of April, direct labor cost totaled $9,750 and direct labor cost was 30% of prime cost. If total manufacturing

MatroZZZ [7]

Answer:

manufacturing overhead= $42,000

Explanation:

Giving the following information:

Direct labor= $9,750 (30% of prime costs)

Total manufacturing costs= $74,500

<u>First, we need to determine the direct material costs. We know that prime costs are the sum of direct labor and direct material.</u>

Prime costs= direct labor / 0.3

Prime costs= 9,750 /0.3

Prime costs= $32,500

Direct material= 32,500 - 9,750

Direct material= $22,750

<u>Now, we can calculate the manufacturing overhead:</u>

Total manufacturing costs= direct labor + direct material + manufacturing overhead

74,500 = 9,750 + 22,750 + manufacturing overhead

manufacturing overhead= $42,000

8 0

3 years ago

1. Describe several operational and behavioral benefits that are generally attributed to a participative budgetary process. 2. I

morpeh [17]

Answer:

Explanation:

1. Some of the operational and behavioral benefits that are generally attributed to a participatory budgeting process are as follows:

a) Utilization of the best knowledge of activities in a specific area, because the participants are close to daily operations.

b) Goals that are more realistic and acceptable.

c) Improved communication and group cohesiveness.

d) A sense of commitment and willingness to be held accountable for the budget.

2. Four deficiencies in Patricia Eklund’s participatory policy for planning and performance evaluation, along with recommendations of how the deficiencies can be corrected:

Deficiencies Recommendations The setting of constraints on fixed expenditures includes uncontrollable fixed costs, thereby mitigating the positive effects of participatory budgeting. Rewards should be based on meeting budget and/or organizational goals or objectives. The arbitrary revision of approved budgets defeats the participatory process. The contingency budget should be separate, over and above each department’s srcinal submission. The division manager holds back a percentage of each budget for discretionary use. Managers should be involved in the revision of budgets. Managers could submit a budget with programs at different levels of funding. Evaluation based on budget performance must be accompanied with intrinsic rewards. Divisional constraints could be at a budget "kick-off meeting;however individual limit of controllable expenses should be set by each manager

6 0

3 years ago

A straight bill of lading is most likely to be used under which of the following circumstances?

Lina20 [59]

A straight bill of lading is most likely to be used when the shipment is to an affiliate.

In keeping with finance management, a straight bill of lading is a document wherein a seller concurs to apply a specific shipping option to ship goods to a sure vicinity, and the invoice is then assigned to a mainly named consignee.

A straight bill of Lading is a non-negotiable invoice of lading. it's miles used when the goods which can be being brought are already paid for or are donations or presents and don't require a charge. The usage of this, the consignee is delivered the products via the delivery business enterprise upon presentation of identification.

The difference between a straight bill of lading and a reserve invoice of lading is the fee fame of the products being shipped. An instant invoice of lading is issued when the goods have been paid for in advance by way of the consignee to the shipper.

Learn more about bills here brainly.com/question/15339309

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4 0

2 years ago

(CO I) Suppose in the spot market 1 U.S. dollar equals 1.60 Canadian dollars. Six month Canadian securities have an annualized r

Natali5045456 [20]

Answer:

U.S. dollar-Canadian dollar exchange rate is $1.5961

Explanation:

given data

1 U.S. dollar = 1.60 Canadian dollars

annualized return = 6%

annualized return = 6.5%

time = 180 day

to find out

what is the U.S. dollar-Canadian dollar exchange rate

solution

we know that 1 U.S. dollar equal to 1.60 Canadian dollars

and

exchange rate for 180 days is

exchange rate = Canadian dollar ×( 1 + canadian interest rate ) / ( 1+ US interest rate) .....................1

put here all these value

exchange rate = Canadian dollar ×( 1 + canadian interest rate ) / ( 1+ US interest rate)

exchange rate = 1.60 ×( 1 + 0.03 ) / ( 1+ 0.0325)

exchange rate = 1.5961

U.S. dollar-Canadian dollar exchange rate is $1.5961

6 0

3 years ago