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Answer:
Debiting in this case means to add to the inventory. Therefore, crediting means that inventory was used up when closing inventory.
Explanation:
A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account. ... A credit is an accounting entry that either increases a liability or equity account, or decreases an asset or expense account.
Answer:
$200,000
Explanation:
The computation of Net Income is shown below:-
The green lawn firm is over-capable of approving the order. The extra fixed costs do not have to be incurred. This way, fixed costs are avoided and only variable costs need to be incurred.
For computing the net income first we need to find out the profit per unit which is here below:-
Profit per unit = Sell price per unit - Variable Cost per unit
= $1,200 - $1,000
= $200
Total Profit = Profit per unit × 1,000 unit order
= $200 × 1,000 unit order
= $200,000
So, net income increased by $200,000
Therefore for computing the total profit we simply applied the above formula.
Answer:
Managers, in today's work environment, rely less on <u>autocratic</u> and more on <u>empowering</u> leadership.
Explanation:
Managers rely less on autocratic because they rather empower people to do things.
Answer:
Gate City Security Systems
Bank Reconciliation at December 31, 2018
Book:
Balance , December 31, 2018 $2,530
<em>Add: </em>
Collection from Jane Lindsey $500
Interest revenue $10
<em>Less:</em>
Service charges $20
Adjusted book balance December 31, 2018 <u>$3,020</u>
Bank:
Balance , December 31,2018 $3,120
<em>Add:</em>
Deposit in transit $400
<em>Less:</em>
Outstanding cheque $500
Adjusted bank balance December 31, 2018 <u>$3,020
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