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jeka94
3 years ago
9

Classify each item as an asset, liability, common stock, revenue, or expense. (a) Issuance of ownership shares. select the corre

ct category (b) Land purchased. select the correct category (c) Amounts owed to suppliers. select the correct category (d) Bonds payable. select the correct category (e) Amount earned from selling a product. select the correct category (f) Cost of advertising. select the correct category
Business
1 answer:
Roman55 [17]3 years ago
8 0

Answer:

The classified list of items is as follows:

(a) Issuance of ownership shares - Common stock

(b) Land purchased - Asset

(c) Amounts owed to suppliers - Liability

(d) Bonds payable - Liability

(e) Amount earned from selling a product - Revenue

(f) Cost of advertising - Expense

Hence, all the items are classified as asset, liability, revenue, common stock and expense.

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Arts stream padhne se aacha to python ya java ki book pdf download kar lo usse padh lo
Advocard [28]

Answer:

Hahahahahahahha is it that much difficult

6 0
2 years ago
Cash flows directly related to production and sale of the firm's products and services are called?
Leona [35]

A  cash flows directly related to production and sale of the firm's products and services are  called Operating cash flow .

<h3>What is operating cash flows and 3 types of cash flows? </h3>

Cash flow from operating activities indicates the amount of money a company brings in from its ongoing,regular business activities such as manufacturing and selling goods or providing a service to customers. Types of cash flows are cash flow from operating activities, cash flow from investing and cash flow from financing activities.

A firms operating cash flows is the cash flow it generates from  its normal operation producing  and selling its output of goods or services.

to learn more about OCF click here brainly.com/question/17001006

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6 0
1 year ago
At the beginning of the​ month, supplies were $ 6 comma 000. During the​ month, $ 7 comma 000 of supplies were purchased. At​ mo
Lena [83]

Answer:

Adjusting Entry

Cost of goods sold (Dr.) $11,000

Beginning Inventory (Cr.) $6,000

Purchases (Cr.)   $5,000

Closing Entry

Ending Inventory (Dr.)  $2,000

Income Summary (Cr.)         $2,000

Explanation:

The adjusting entry is made by debiting cost of goods sold account which reflects the amount of inventory sold during the month and the entry is credited by beginning inventory of $6,000 and the remaining amount which is $5,000 is credited in purchases account.

The closing entry is made by debiting the ending inventory by the amount of $2,000 and Income Summary account is credited by the same amount to close the inventory account.

6 0
3 years ago
When your manager, Novak, talks about a , he means a set of interrelated parts that function as a whole to achieve a common purp
andrew-mc [135]

Answer:

A System

Explanation:

Novak is referring to a system. A system is a complex union of several interrelated parts that have different specific functions, but share a common goal, and a more or less common mechanism.

Society is a system, a computer as well. Firms are systems, they have different parts: employees, stockholders and management that have specific functions but work together toward a common goal: generating revenue.

5 0
3 years ago
Which one of the following is not a function of​ money? A. Medium of exchange. B. Store of value. C. Open market operation. D. U
Lisa [10]

Answer:

The correct answer is C

Explanation:

Money is the term which is described as something which serves as exchange medium, store of value and a unit of accounting. It is a exchange medium in the terms, that the person will agree to receive it by making a transaction.

In short, when depositing the money into any financial institution like banks, then this states the store of value function of the money.

Therefore, the one which is not the function of money is that it has the operations in the open market.

3 0
3 years ago
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