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egoroff_w [7]
3 years ago
5

Accounting has its own vocabulary and basic relationships. Match the accounting terms with the corresponding definition or meani

ng. ____ 1. Debit ____ 2. Expense____ 3. Net income____ 4. Ledger____ 5. Posting____ 6. Normal balance____ 7. Payable____ 8. Journal ____ 9. Receivable____ 10. Owners’ equitya. Always an asset b. Side of an account where increases are recorded c. Record of transactions d. The cost of operating a business; a decrease in stockholder’s equity e. Grouping of accounts f. Copying data from the journal to the ledger g. Revenues – Expenses h. Always a liability i. Left side of an account j. Assets – Liabilities
Business
1 answer:
balandron [24]3 years ago
8 0

Answer and Explanation:

The matching of the accounting term with the definition is shown below:

1. Debit - it comes in the left side i.e. (i)

2. Expense: It decreases the stockholder equity also it contains the debit balance i.e. (d)

3. Net income: It is a statement that shows the expenses and revenue related transactions i.e. (g)

4. Ledger: It is the T-account in which the journal entries are posted i.e. (e)

5. Posting: The data is copied from journal to ledger we called as posting i.e. (f)

6. Normal balance: It is the side of an account in which the account increment is recorded i.e. (b)

7. Payable: It is a liability and it always a credit balance and shown in the balance sheet i.e (h)

8. Journal: In this the transactions are recorded i.e. (c)

9. Receivable: This is an asset and it has always a debit balance i.e. (a)

10. Owner equity: It is amount i.e. to be invested in the business also shows a difference between the total asset and total liabilities i.e. (j)

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They may put a firm at a competitive advantage to indigenous competitors

Explanation:

Trade barriers is when the government put up barriers to import. The goal of this is to increase local production of goods and services.

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The cost of financing the national debt (in terms of average interest rate paid on the debt) has generally _____ over the last 3
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A company has revenues of $100 during Year 1. Each year their profit is 20% of revenue. Revenue is growing 15% per year. How muc
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$406.07

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  1           0            $100( 1 + r )⁰            $20

  2          1            $100( 1 + r )¹             $23

  3          2            $100( 1 + r )²            $26.45

  4          3            $100( 1 + r )³            $30.4175

  5          4            $100( 1 + r )⁴            $34.98

  6          5            $100( 1 + r )⁵            $40.227

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  9          8            $100( 1 + r )⁸            $61.1804

  10         9            $100( 1 + r )⁹            $70.357

   Hence,

Total profit for the year 1 - 10 = $406.07

5 0
2 years ago
Fortuna Company is preparing its statement of cash flows. Cash disbursements during the year included:
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7 0
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