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marin [14]
3 years ago
14

On December 31, the company purchases equipment for $10,000 and pays for the purchase in cash. Complete the necessary journal en

try by selecting the account names from the pull-down menus and entering dollar amounts in the debit and credit columns.
Business
1 answer:
Vladimir [108]3 years ago
7 0

Answer:

Date            General           Debit      Credit

                                                 $             $

Dec 31        Equipment        10000  

                   Cash                                 10000

Following are detail of the posting of equipment purchased

1) The $10,000 will be posted to the debit side of the Equipment Account.

2) The $10,000 will be posted to the credit side of the Cash Account

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An organization characterized by direct two-way lines of responsibility and communication running from the top of the organizati
Anarel [89]

Answer:

Line

Explanation:

The line organization is the organization structure in which the authority and responsibility are communicated from the top to bottom level of management so that the proper coordination could be done at each level of management i.e top, middle and lower.

Moreover, it is a two ways lines of responsibility i.e to be communicated from high to low level of management. Plus it would be reported to one supervisor only

6 0
3 years ago
3.Which of the following is not a characteristic of a vertical organizational structure? A. Greater efficiency in handling uncom
Natasha_Volkova [10]

Answer:

  • <em><u>D. Consists of casual relationships and external office influences </u></em>

Explanation:

<em>Vertical organizational structures</em> consist is a very is a very hierarchical form of organization. And it has a typical pyramidal structure: few people on top and a wide base.

The rules emanate from top management and are transmitted down by each division, department, until they reach employees at the lower level of the company.

Indeed they are efficient because of they have clear rules to follow by the employees, that they can use to handle quickly most of daily tasks. Thus option <em>"A. Greater efficiency in handling uncomplicated tasks"</em> is true.

These kind of organizations may be little encouraging for the lower levels, as they just must follow the rules and are not able to implement new procedures by themselves. Thus, it is true that <em>"B. Lower employee morale and satisfaction"</em> may undermine the lowers levels and some good employess would migrate to other enterpises where they can develop their ideas. Thi si a clar disavantage.

<em> C. Slower communication </em>

Since the communication has to pass for all intermediate levels, these organizations have typically slower communiction. Thus, this is true too.

<em>D. Consists of casual relationships and external office influences </em>

This is not a characteristic of vertical organizational structures; on the contrary, the relationships are generally ruled by the same hierarchical formal relationships. This is, the command line is the same line of the relationships.

Nowadays, most enterprises are aware of the importance of developing a team bases on high morale and wide and good relationships, thus theses effects are handled by the top and medium level management searching to be more effective, encouraging, and satisfactory for all the employees.

8 0
2 years ago
Give an example of two economic goals conflicting with each other
Alexxandr [17]
Any country around the world has certain targets for becoming an ideal and economically stable nation. Economic goals of full employment, stability, economic growth, efficiency, and equity are widely considered to e beneficial and worth pursuing for a country to achieve economic stability. Full employment and price stability are goals that conflict with each other. Full employment is an economic situation in which all the available labor resource is being used in the most efficient way possible while price stability implies avoiding both prolonged inflation and deflation.
4 0
3 years ago
Read 2 more answers
Question 5 of 12 An insured and his wife are both involved in a head-on collision. The husband dies instantly, and the wife dies
Roman55 [17]

An insured and his wife are both involved in a head-on collision. The husband dies instantly, and the wife dies 15 days later. The company pays the death benefit to the estate of the insured. This indicates that the life insurance policy had they were in the room alone

This is further explained below.

<h3>What is an insurance policy?</h3>

Both the insured person and his wife are engaged in an accident that occurs head-on. The husband passes away in an instant, and the wife follows him in passing 15 days later. The death benefit is paid out by the firm to the estate of the covered person. This suggests that the life insurance coverage would not have paid out if they were alone in the room.

In conclusion, A legal relationship exists between an insurance firm, often known as the insurer, and the person(s), business, or entity that is being covered under the terms of an insurance policy (the insured). Reading your policy gives you the ability to check that it satisfies your requirements and ensures that you comprehend both your duties and those of the insurance business in the event of a loss.

Read more about insurance policy

brainly.com/question/17479291

#SPJ1

4 0
2 years ago
During its first year of operations, Crane Company had credit sales of $3,531,400; $664,000 remained uncollected at year-end. Th
Vinvika [58]

Answer:

Bad debt expense...................Dr       $36,000

            Allowance for doubtful debts                $36,000

(To record uncollectibles)

Explanation:

Certain amount of credit sales that the manager estimates to be uncollectible is called bad debts. They are written off at the end of the year. As per allowance method, estimated uncollectibles or bad debts are charged to allowance for doubtful debts.

Here, $36,000 has been estimated by the manager as estimated uncollectible

Journal entry to record uncollectibles:

Particulars                              Debit                Credit

Bad debt expense                   $36,000

       Allowance for doubtful debts                    $36,000

(To record uncollectibles)

7 0
3 years ago
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