Answer:
Explanation:
The journal entry to record the accrued expense is shown below:
Example:
Wages expenses A/c Dr XXXXX
To wages payable A/c XXXXX
(Being the accrued expenses is recorded)
While recording the wages expenses, we debited the accrued expenses as it increases the expenses account and credited the wages payable account as the liabilities account is also increased
Answer:
A. The demand of wheat and corn is basically inelastic and so increases in output drastically reduce price and income to the farmers.
Explanation:
Inelastic demand means the change in price does not affect the purchasers' buying power. The difference in price has relatively little effect on the quantity demanded. Since the demand for wheat is inelastic, price and income will reduce irrespective of increasing production. Therefore, harvesting massive production (wheat or corn) does not bring a high income.
To create market stability.
<u>Explanation:</u>
The term IoT is an acronym for 'Internet of Things' which refers to a modern technology that allows certain physical objects or “things” as we may call it to connect to the internet.
While Big Data refers not just to large data, but to an innovative field of technology that specializes in analyzing very large (big) data sets.
Consider the education industry, by means of IoT, it is possible for school management to effectively track their student's academic progress in real-time.
IoT and Big Data connected in the sense that, as these physical things (objects) communicate over the internet, a mass amount of data ("Big Data") is been generated which could then be analyzed using specialized software. In other words, they are mutually beneficial.
When bank charged another company's check against our account this would be included on the bank reconciliation as a addition to the balance per books.
A bank reconciliation statement summarizes banking and business activities and reconciles a company's bank accounts and its financial records. A bank reconciliation statement confirms that the payment has been processed and the cash collection has been credited to your bank account.
Withdraw an outstanding check. This will give you a reconciled bank balance. Then, use the cash balance at the end of the business to add up the interest earned and any outstanding bills. Deduct all bank charges, penalties and NSF checks.
Procedures for verifying the accuracy of both company bank statements and cash accounts. - Must be completed at the end of each month. A common cause of differences between the bank's ending balance and the cash book's ending balance.
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