1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alinara [238K]
3 years ago
7

Which of the following is TRUE regarding journal entries: a) There are always only two accounts affected b) The total amount deb

ited must equal the total amount credited c) Journal entries show debits on the right and credits on the left d) Journal entries show credits first, then debits
Business
1 answer:
Free_Kalibri [48]3 years ago
4 0

Answer: b) The total amount debited must equal the total amount credited

Explanation:

Journal entries on the debit side must always equal entries on the credit side. This is to fulfil the Accounting requirement of Double Entry where every entry in the books must have an equal and corresponding entry as well.

There can be multiple accounts represented in the journal entry but the amount on the credit side needs to balance with the amount on the debit side.

For example, a good to sold to Hillary by Trump for $30. Trump gives Hillary a discount of 10%. Trump will record that entry as,

DR Cash $27

DR Sales Discount $3

CR Accounts Receivable $30

Notice that the Debit side has 2 accounts but they still add up to the $30 on the Credit side.

You might be interested in
The following data apply to Garber Industries, Inc. (GII): Value of operations $1,000 Short-term investments $100 Debt $300 Numb
kari74 [83]

Answer:

The correct option is $7,option C

Explanation:

The approach here is that we calculate the value of the firm after the cash dividend distribution ,which is simply the value of operations of $1000 since the short-term investments of $100 has been used in paying dividends.

Thereafter,the value of equity is the value of operations of $1000 minus the value of debt at $300,that is $700 ($1000-$300).

Finally intrinsic share price=value of equity/number of shares

number of shares is 100

intrinsic value per share=$700/100=$7 per share

5 0
3 years ago
Roger is engaging in HR planning. He is trying to predict what human resources will be needed in the coming year in his organiza
Marina86 [1]

The activity in which Roger is engaged in is called program evaluation.

<h3>What is Program Evaluation?</h3>

This refers to the ability to make predictions about the things which are needed for a program to run successfully.

Hence, because Roger is involved in Human Resources planning and he is trying to predict what human resources will be needed in the coming year in his organization, then he is engaged in program evaluation.

Read more about program evaluation here:
brainly.com/question/26523302

7 0
2 years ago
Top Shelf Company builds oak bookcases. Determine whether each of the following is a direct material (DM), direct labor (DL), ma
Veronika [31]

Answer:

(1) Depreciation on factory equipment. ____MOH

(2) Depreciation on delivery trucks. ____ Period Cost

(3) Wood used to build a bookcase. ____Direct Material

(4) Production supervisor’s salary. ____ MOH

(5) Glue and screws used in the bookcases. ____ MOH

(6) Wages of persons who assemble the bookcases. ____Direct Labor

(7) Cost to run an ad on local radio stations. ____Period Cost

(8) Rent for the factory. ____ MOH

(9) CEO’s salary. ____ Period Cost

(10) Wages of person who sands the wood after it is cut. Direct Labor

Period Cost are costs that are not directly involved in the manufacturing costs of a product but are incurred in a particular  period. These expenses include advertising and selling expenses.

Direct Materials are material used to make a product . For example wood is a direct material for making shelves.

Direct Labor are the wages paid to the people who work in the production of a product.

Manufacturing Overheads are charges associated with the manufacturing of a product.they are indirect costs of the production like rent of the building etc.

 

4 0
3 years ago
How much money should you get selling gold for cash?
Viefleur [7K]
Enough to buy a Mercedes Benz.
7 0
3 years ago
Dss use internal information as well as information from external sources.
koban [17]
True Hope this helps
3 0
3 years ago
Read 2 more answers
Other questions:
  • You are given the following information: Stockholders’ equity asreported on the firm’s balance sheet = $3.75 billion, price/earn
    15·1 answer
  • How to write an informal essay? ​
    14·2 answers
  • Why do starbucks customer at busy downtown locations in major cities pay more for a cup of coffee than they would at less busy l
    8·1 answer
  • Tennessee Valley Antiques would like to issue new equity shares if its cost of equity declines to 12.5 percent. The company pays
    13·1 answer
  • Use the following selected information from Whitman Corp. to determine the Year 1 and Year 2 common size percentages for cost of
    9·1 answer
  • Please help--
    8·1 answer
  • Given the following history, use a three-quarter moving average to forecast the demand for the third quarter of this year. Note,
    10·1 answer
  • Ayayai Corporation reported net cash provided by operating activities of $345,000, net cash used by investing activities of $145
    15·1 answer
  • What is a loan? 100 points
    12·2 answers
  • Any business ideas u guys want to do in the future?
    13·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!