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Masja [62]
3 years ago
8

In double entry bookkeeping, where should you record assets?

Business
2 answers:
vekshin13 years ago
5 0
Hi there :-)

The answer is
A. In the left debits column

Hope it helps
notsponge [240]3 years ago
4 0

The answer to the question would be A.

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Forward Company makes and sells power tools. The budgeted sales are $480,000, the budgeted variable costs are $175,000, and the
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Answer:

63.54% (Approx)

Explanation:

The computation of the budgeted percentage contribution margin ratio is shown below:-

For computing the contribution margin ratio firstly we need to calculate the contribution margin in dollars

Contribution margin = Sales - Variable cost

= ($480,000 - $175,000)

= $305,000

Contribution margin ratio = Contribution margin ÷ Sales

= ($305,000 ÷ $480,000)

= 63.54% (Approx)

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3 years ago
Johanna's grandmother gives her $8,000 to pay for the entire first year's tuition at a state college, a year from now. johanna p
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<span>Johanna must come up with 800 more dollars in order to pay her college tuition. This number is calculated by multiplying 8,000 by 10% (or .10). When these calculations are completed, you get the number 800. Because the college tuition increases by 10%, calculating 10% of 800 tells you the amount risen due to inflation.</span>
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Different societies use different types of money. The MAIN requirement for any type of money to become a medium of exchange is t
Snezhnost [94]
The answer is D) easy to divide into units
8 0
3 years ago
For each of the following​ accounts, identify whether that item is an​ asset, liability, or equity account. Account Classificati
Ulleksa [173]

Answer:

a. Bonds payable   Liability account

b. Equipment   Asset account

c. Accounts payable    Liability account

d. Salaries payable   Liability account

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f. Retained earnings    Equity account

g. Cash   Asset account

h. Accounts receivable   Asset account

i. Sales revenue   Equity account

j. Inventory  Asset account

Explanation:

All the assets account is debit in nature, so the equipment, cash, account receivable and Inventory accounts are debit in nature and these are classified as asset.

All the account with credit nature is either classified as Liability or Equity accounts. Equity accounts are common stock, retained earning and sales revenue. Liabilities accounts are bond payable, account payable and salaries payable.

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5. Which of the following is not true regarding proprietary funds? A) Enterprise funds are used by governments to account for se
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Answer:

The correct answer is D) The operation of internal service funds has no impact on other funds because it is run as a business and provides services that would have been purchased elsewhere by the other funds.

Explanation:

This is false because the operation of these funds represent a direct impact on other funds in the portfolio because they are related within the same business scheme and therefore transfer transactions (purchase and sale) of services corresponding to other portfolios or funds with guarantees and expectations of growth in the short term.

6 0
3 years ago
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