1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
siniylev [52]
3 years ago
15

Bernard is a trainee accountant. His manager asked him to record a loss on the sale of machinery in the business’s temporary acc

ount. To which type of account was Bernard’s manager referring?
Business
1 answer:
Agata [3.3K]3 years ago
6 0

Answer:

Gain and loss accounts

Explanation:

Gain and loss accounts are a form of temporary accounts that are utilized to gather combined sales and purchases that has an effect on the profit or loss of business activities over a given period, which is typically in a year. For example, the loss on property sold account.

Hence, in this situation, the correct answer to the question is known to be a GAIN and LOSS ACCOUNT.

You might be interested in
A printer used 1890 digits to number all the page. How many pages in the book
Lelu [443]

Answer: We have 1890 − 189 = 1701 digits remaining and therefore 1701:3 = 567 pages with three digits. Hence, the volume has 99 + 567 = 666 pages.

Explanation:

4 0
2 years ago
Annalise received financial aid offers from two universities.
natima [27]

Answer:

Option A will save her $15,500.

Explanation:

Financial aid is the assistance given to students to cater to a college education. It excludes Scholarships and grants as these are not cost items by other forms of assistance.

<u>Total for University Option A</u> excluding scholarships and grants

Tuition & Fees $10,000

Room and Board $11,500

Work-Study  <u>$ 4,000 </u>

Total for A  <u>$25,500</u>

<u>For university option B</u>

Tuition & Fees  $28,000  

Room & Board $ 9,000

Work-study  <u>$ 4,000</u>

Total for B  <u>$41,000</u>

Option B is more costly than A by :$41,000 - $25,500=$15,500.

Therefore, Option A saves $15,500

5 0
2 years ago
Read 2 more answers
Bonnie and Clyde each own one-third of a fast-food restaurant, and their 13-year-old daughter owns the other shares. Both parent
yanalaym [24]

Answer:

Net income = $180,000

- salaries = ($30,000 + $35,000 + $10,000 = $75,000)

adjusted net income = $105,000

the adjusted net income must now be divided equally between the 3 partners:

  • Bonnie: $35,000
  • Clyde: $35,000
  • daughter: $35,000

Their yearly gross income:

  • Bonnie: $35,000 + $30,000 = $65,000
  • Clyde: $35,000 + $35,000 = $70,000
  • daughter: $35,000 + $10,000 = $45,000

total taxable income = $65,000 + $70,000 + $45,000 = $180,000

7 0
3 years ago
Sarasota Company sells on credits goods that cost $310,000 to Ricard Company for $409,500 on January 2, 2020. The sales price in
swat32

Answer and Explanation:

The journal entries are shown below:

Account Receivable $409,500

           To Sales Revenue $367,000

           To Unearned Service Revenue $42,500

(Being account receivable is recorded)

Cost of Goods Sold $310,000

           To Merchandised Inventory $310,000

(Being cost of goods sold is recorded)  

These two journal entries are to be recorded

7 0
3 years ago
Sheridan Company declared a $229000 cash dividend. It currently has 12300 shares of 4%, $100 par value cumulative preferred stoc
dem82 [27]

Answer and Explanation:

The computation is shown below:

For preferred shareholders

The dividend is

= 12,300 shares × 4% × $100

= $49,200

For two years, it would be

= $49,200 × 2

= $98,400

And, the total cash dividend declared is $229,000

So, the cash distribute to common stockholder is

= $229,000 - $98,400

= $130,600

hence, the cash distribute to common stockholder is $130,600

5 0
3 years ago
Other questions:
  • Milani, inc., acquired 10 percent of seida corporation on january 1, 2017, for $190,000 and appropriately accounted for the inve
    11·1 answer
  • Question 5 of 10<br> Relationship building at work can...
    7·1 answer
  • Lori, a self-employed pediatrician, currently earns $200,000 annually. Lori has been able to save 15%of her annual Schedule C ne
    10·1 answer
  • A manager attempting to take credit for a subordinate's ideas is engaging in a type of _____
    10·1 answer
  • At December​ 31, 2018​, Wave Corporation has cash of $ 50 ​million, accounts receivable of $ 19 ​million, and​ long-term assets
    5·2 answers
  • On April 2 a corporation purchased for cash 7,000 shares of its own $11 par common stock at $26 per share. It sold 4,000 of the
    6·1 answer
  • he 2021 income statement of Adrian Express reports sales of $16,281,000, cost of goods sold of $9,851,500, and net income of $1,
    5·1 answer
  • Danahy Corporation manufactures a single product. The following data pertain to the company's operations over the last two years
    8·1 answer
  • In our newly networked world, reading is:
    11·2 answers
  • Metro Corporation will spend $1 million for special manufacturing equipment. Shipping and installation charges will amount to $1
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!