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Reika [66]
2 years ago
12

Indicate whether the following accounts generally will have (a) debit entries only, (b) credit entries only, or (c) both debit a

nd credit entries. (1)Cash. (2)Accounts Receivable. (3)Dividends. (4)Accounts Payable. (5)Salaries and Wages Expense. (6)Service Revenue.
Business
1 answer:
Ivenika [448]2 years ago
3 0

Answer:

Consider the following equation:

Assets = Equity + Liability......................Equation1

As

Equity = Share Capital + Retained Earnings

And

Retained earnings = Sales - Expenses - Dividends paid

Now by putting values in the equation 1:

Assets = (Share Capital + Sales - Expenses - Dividends paid) + Liability

Assets + Expenses + Dividends paid = Share Capital + Sales + Liability

Now remember that the figures that are on the left are debit in nature and figures in the right are credit in nature.

As we know cash and accounts receivable are assets in nature so these will be debited. The dividends clearly would be debited on the basis of the above equation and the salaries and wages which are expense in nature should be debited.

Now the Accounts payable is liability and must be credited and Sales which is also credit in nature must be credited.

The mention cases considers the increase in them which is the general case. If these narratives decreases then the debit entry would convert into credit.

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The answer is false.
7 0
3 years ago
ATech has fixed costs of $7 million and profits of $4 million. Its competitor, ZTech, is roughly the same size and this year ear
Triss [41]

Answer: Degree of Operating Leverage

A Tech = 2.75

Z Tech = 3

Explanation:

As defined in question itself,

Degree of Operating Leverage = 1 + \frac{fixed\ cost}{Profit}

As here, it is provided that profit for both the companies are same amounting $4 million.

Although the fixed cost differ by $1 million.

A Tech Degree of operating Leverage = 1 + \frac{7,000,000}{4,000,000} = 2.75

Z Tech Degree of Operating Leverage = 1 + \frac{8,000,000}{4,000,000} = 3

This clearly demonstrates that A Tech will reach its break even faster than the Z Tech as the ratio of fixed cost to variable cost is lower in A tech in comparison to Z Tech.

5 0
3 years ago
Curtis williams is 69 years old. His wife, mary williams, is 67 years old. Curtis and mary plan to file a joint return. Mary is
kirill115 [55]

Curtis Williams is 69 years old. His wife, Mary Williams, is 67 years old. Curtis and Mary plan to file a joint return. Mary is legally blind. IRS provides high standard deduction to married couples who have age of 65 or above and blind or one of the partner is legally blind.

IRS states that if filling for joint return is done by married taxpayers in the year 2022 then normal standard deduction is $25,900. In this case Curtis and Mary both are over the age of 65 and Mary is blind too then as per IRS guidelines they will get $1,400 deduction per person for being above 65 plus Mary will get additional $1,400 deduction for being legally blind.

$25,900 + $1,400 + $1,400 + $1,400 = $30,100

Hence, Curtis and Mary's standard deduction is $30,100.

Read more about standard deduction on brainly:-

brainly.com/question/3158031

#SPJ4

3 0
2 years ago
WACC. Eric has another​ get-rich-quick idea, but needs funding to support it. He chooses an​ all-debt funding scenario. He will
maks197457 [2]

Answer:

274.7%

Explanation:

The total amount that Eric will borrow will be = 43114311+33503350+13391339 = 90009000.

Now to calculate WACC, we will apply the WACC formula:

WACC = (43114311/90009000)*0.66 + (33503350/90009000)*0.88 + (13391339/90009000)*14.14

Hence,

WACC = 274.74%

The solution was very simple, we just applied the WACC formula by taking the total amount of debt in the denominator of each of the loans taken and multiplied it by the interest rate on which it is taken.

Hope this helps, although I think the values in the question are not correct, but nonetheless I have provide the correct solution according to the given values.

Thanks.

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What would be the best tool to display the following information from a basketball game? Eric had 21 points, 3 rebounds, and 1 a
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