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Elis [28]
3 years ago
10

A(n) ______ is maintained for each financial statement item, whereas a(n) ______ contains all of the accounts of the company.

Business
1 answer:
Svetllana [295]3 years ago
4 0

Answer:

An <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

Explanation:

Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.

For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.

The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.

Therefore, an <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.

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Each extra worker produces an extra unit of output up to six workers. After six, no additional output is produced. Draw the tota
Dmitry_Shevchenko [17]

Answer:

attached is the diagram

Explanation:

Each extra worker produces an extra unit of output, is said to be the marginal production of an extra worker employed

marginal production  :

change in total production / change in labor = ΔTp / ΔL

Average production = Tp / L

Tp = total production ,  L = number of labor

To draw the Total product of labor , average product labor and marginal product labor curves starting from zero labor

0 worker : Total product = 0, average product labor = 0 , marginal = 0

1 worker : Total product = 1, average product = 1 , marginal = 0

2 worker : Total product = 2, average product = 1, marginal = 1

3 workers: total product = 3 average product = 1, marginal = 1

4 workers: Total product = 4, average product = 1, marginal = 1

5 workers : Total product = 5 average product = 1, marginal = 1

6 workers : total product = 6 average product = 1 , marginal = 1

7 workers : total product = 7 , average product = 0.85, marginal = 0

8 workers : total product = 8, average product = 0.75 marginal = 0

7 0
3 years ago
Net sales revenue for 2024 was and for 2025 was . what is the percentage of increase or decrease in net sales revenue for the tw
polet [3.4K]

The percentage of increase or decrease in net sales revenue  a decrease is 15.45%

Sales in 2024 = $110000

Sales in 2025 = $93000

Decrease in sales between two periods = ($110000 - $93000) = $17000

Percentage of decrease in sales = [($17000 / $110000 Base year) X 100]

=> 15.45% decrease in net sales revenue from 2024 to 2025

Net sales are gross sales generated by the business, excluding returns, rebates, and rebates. This number is used by analysts when making business decisions or analyzing a company's revenue growth.

Total sales are not adjusted for returns, rebates, and rebates. The earnings reported on the top line of a company's income statement are net earnings. Net sales are also known as net sales, net sales, or sales.

Revenue is the total amount of revenue from sales for a specific period. Quarters. Sales may be reported as net sales as they may include discounts and deductions from returned or damaged merchandise.

Learn more about  net sales revenue here:

https://www.plagiarismremover.net/

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6 0
2 years ago
Suppose one rental car company raises its prices and the rival car companies leave their prices unchanged. But when another rent
Karo-lina-s [1.5K]

Answer:

This situation is an example of cross Price elasticity of Demand

Explanation:

If change in Price in Rental Company A doesn't necessitate change in prices in Rental companies B.C.D.E & F

Then the products A has on offer are not close substitutes to the rival companies

However where Rental company G lowers his price and it immediately triggers a Price reduction in Companies B to F, then obviously they offer similar products that are close substitutes and serve similar segment or channel of the Market Size. Thus failure to lower their Price will automatically see Customers rent cars more from Company G.

This situation is an example of cross Price elasticity of Demand

7 0
3 years ago
What do bankers take into account when allocating their assets?
WITCHER [35]

When allocating their assets bankers take into account their reserve equipment. Property, plant and equipment is initially measured at its cost, sub­se­quently measured either using a cost or reval­u­a­tion model, and de­pre­ci­ated.

8 0
3 years ago
k. decker, s. rosen, and e. toso are forming a partnership. decker is transferring $53,900 of personal cash to the partnership.
uranmaximum [27]

The  journal entries to record each of the partners investments are:  Debit Cash  $53,900, Credit Decker, capital $53,900.

<h3>Journal entries</h3>

a. Debit Cash  $53,900

Credit Decker, capital $53,900

(To record Decker investment)

Debit Land $17,300

Debit Building  $78,600

Credit S. Rosen Capital $95,900

($17,800+$78,600)

(To record s,. rosen investment)

Debit Cash $13,300

Debit Account receivable $35,600

Debit Equipment $21,200

Credit Allowance for Bad debts $3,560

($35,600-$32,040)

Credit Toso, capital $66,540

($13,300+$35,600+$21,200-$3,560)

(To record toso investment)

b. Partner's capital statement

Owner's equity

Deckers capital $53,900

S. rosen capital $95,900

Toso capital $66,540

Total owner's equity $216,340

Therefore the  journal entries to record each of the partners investments are:  Debit Cash  $53,900, Credit Decker, capital $53,900.

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The complete question is:

k. decker, s. rosen, and e. toso are forming a partnership. decker is transferring $53,900 of personal cash to the partnership. rosen owns land worth $17,300 and a small building worth $78,600, which she transfers to the partnership. toso transfers to the partnership cash of $13,300, accounts receivable of $35,600, and equipment worth $21,200. the partnership expects to collect $32,040 of the accounts receivable.

a. Prepare the journal entries to record each of the partners investments.

b. What amount would be reported as total owner's equity immediately after the investments?

6 0
1 year ago
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