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3 years ago

Which idea forms the basis of double-entry accounting?

Business

1 answer:

valina [46]3 years ago

5 0

Answer:

A. For every single transaction, at least two accounts will be

affected.

Explanation:

Double-entry accounting is a record-keeping method where a transaction is recorded in a minimum of two accounts. There is no upper ceiling on the actual number of accounts that may be used in a transaction.

Every account has two columns, with debits on the left and credit entries on the right. The aggregate of the debit entries must equal the result of all credit entries. If this happens, the transaction has balanced. If not, the transaction is "out of balance."

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Read the passage. Then answer the question that follows. Nikia designs and produces board games that she sells online. She forme

liberstina [14]

I would say the C. is the correct answer, because if the 3D Printer prints the pieces faster, the games are sold more frequently. I hope this helps, and that it makes sense to you.

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3 years ago

Carter's preferred stock pays a dividend of $1.00 per quarter. If the price of the stock is $45.00, what is its nominal (not eff

Lera25 [3.4K]

Answer:

8.89%

Explanation:

The answer is 8.89%

Here is how we arrived at this.

Dividend = 1$ times 4

= $4 annually

Then we calculate for the nominal rate of return.

This is equal to dividend / price.

= $4/ $45

= 0.0889

To convert this to percentage

0.089 x 100

= 8.89% is the nominal annual rate of return.

3 0

3 years ago

Avon Products, Inc., located in New York City, is one of the world’s largest producers of beauty and related products. The compa

kvv77 [185]

Answer:

a) Accounts Receivable 2015 = $443,000 2014 = $515,600

b) Bad Debt Expense = $144,100

c) Gross sales = $6,083,300

d) Cash collected from Customers = $6,005,000

Explanation:

a and b are given.

c) Gross Sales = $6,076,500 + $6,800 = $6,083,300

d) Cash collected = opening balance in Account receivable + credit Net sales - Bad debt - Closing balance in Accounts Receivables

= $515,600 + $6,076,500 - $144,100 - $443,000

=$6,005,000

4 0

3 years ago

Spending by which sector is the largest single component of spending in the u.s. economy?

telo118 [61]

The sectors are international, household, business, and government. The largest spending is consumption spending. That being said the answer would be household.

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3 years ago

During 2017, Skysong Inc. changed from LIFO to FIFO inventory pricing. Skysong began operations in 2015 and its pretax income in

Viefleur [7K]

Answer:

See Explanation below for the detailed answer

Explanation:

The following are income statement summaries for prior years comparing the change in inventory valuation from LIFO to FIFO

2015 Lifo : $ 530000 Tax : $159000 Profit $ 371000

Fifo : $ 561000 Tax : $ 168300 Profit $ 392700 Difference; $21700

2016 Lifo : $ 625000 Tax : $187500 Profit $ 437500

Fifo : $ 675000 Tax : $ 202500 Profit $ 472500 Difference; $35000

2017 Fifo: $644000 Tax : $ 193200 Profit $ 450800

7 0

3 years ago