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3 years ago

The accounting book or computer program where each day's transactions are first recorded is called a:

1 answer:

6 0

The accounting book or computer program where each days transactions are first recorded is called a(n): Journal
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Two products, QI and VH, emerge from a joint process. Product QI has been allocated $21,300 of the total joint costs of $42,000.

nikklg [1K]

Answer:

Processing QI further would lead to a loss of ($5,200)

Explanation:

A company should process further a product if the additional revenue from the split-off point is greater than than the further processing cost.

Also note that all cost incurred up to the split-off point are irrelevant to the decision to process further .

Financial disadvantage of processing QI further

Sales revenue after the split-off point (13× 2,800) 36,400

Sales revenue at the split-off point (11× 2,800) (30,800)

Additional sales revenue 5,600

Further processing cost ( 10,800)

Net advantage from further processing 1,200 (5,200)

Processing QI further would lead to a financial disadvantage of ($5,200)

7 0

3 years ago

According to the Uniform Partnership Act, the three key elements of any general partnership are

Anon25 [30]

Answer:

(2) Common ownership, shared profits and losses, and right to participate in managing the operations.

Explanation:

Partnership refers to a mutual agreement between 2 or more individuals agreeing to carry out a business and to share it's profits and losses in an agreed ratio or as per the clauses in partnership deed.

Uniform partnership act regulates partnership agreements in majority of United States. The act also allows remaining partners after dissolution to continue the partnership if majority of them desire to do so.

Under the act, Partnership is characterized by common ownership of assets and liabilities by all partners, sharing of partnership profits and losses and equal rights to participate in managing the operations of the partnership.

4 0

3 years ago

(True/False) A decrease in demand means that quantity demanded is lower at each price level.

Bas_tet [7]

Answer:

True

Explanation:

A decrease in demand means that consumers plan to purchase less of the good at each possible price

7 0

3 years ago

A store’s selling price of $2,240 for a certain computer would yield a profit of 40 percent of the store’s cost for the computer

kvv77 [185]

Answer:

Correct option is (A)

Explanation:

Given:

40% gain would be yielded on selling price of $2,240.

Let cost price be x.

Cost price will be 140% or 1.4 times cost price is selling price. It can be written in the following equation form:

1.4x = 2,240

x = 2,240 / 1.4

x = $1,600

Cost price = $1,600

Desired profit = 50%

Selling price = 1.5 times cost price

= 1.5 × 1,600

= $2,400

5 0

3 years ago

On February 1, 2015, Sanger Corp. lends cash and accepts a $8,500 note receivable that offers 12% interest and is due in six mon

gayaneshka [121]

Answer:

Cash 9,010

Interest Revenue 510

Notes Receivable 8,500

Explanation:

The journal entry is shown below:

Cash A/c Dr 9,010

To Interest Revenue A/c Dr $510

To Notes Receivable A/c Dr 8,500

The computation of the interest revenue is shown below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)

= $8,500 × 12% × (6 months ÷ 12 months)

= $510

The six months is calculated from February 1 to August 1

8 0

3 years ago