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
11111nata11111 [884]
3 years ago
6

The owner of bobcats r us paid his personal mastercard bill using a company check. the correct entry to record the transaction i

s __________.
a. credit cash; debit capital
b. credit cash; debit supplies expense
c. credit cash; debit withdrawals
d. credit cash; debit accounts receivable
Business
2 answers:
Basile [38]3 years ago
8 0
The correct answer is C.
just olya [345]3 years ago
4 0

Answer:

The correct answer is: C

Explanation:

A business owned by one person is known as a sole proprietorship. In such a business, the owner's investment is represented by the value of their capital/equity accounts. Any expenses paid by the business on behalf of the owner, or the owner using cash from the business, are represented in the drawings account. This is not an expense account, rather a contra account for the owner's capital/equity account. It effectively reduces the value of the owner's capital account (at the end of the financial period, this account is closed off /debited against the owner's capital account). To record the drawings from the business, the following journal entry is implemented:

Debit           Drawings/Withdrawals    

         Credit            Cash

You might be interested in
According to ___________________, if the money supply grows at 6%, real gdp grows at 2%, and the velocity of money is constant,
IceJOKER [234]

The quantity theory of money predicts that the inflation rate will be 4% if the money supply increases by 6%, real GDP increases by 2%, and the velocity of money remains constant.

All the money and other liquid assets present in an economy on the measurement date are referred to as the money supply. The money supply roughly consists of deposits that can be utilized virtually as easily as cash in addition to actual currency.

Governments issue coin and paper money supply through a mix of national treasuries and central banks. By dictating to banks what reserves they must maintain, how to offer credit, and other financial issues, bank regulators have an impact on the amount of money that is available to the general people.

By regulating interest rates and altering the amount of money flowing through the economy, economists study the money supply and create policies based on it. Because the money supply may have an impact on price levels, inflation, and the business cycle, both the public and private sectors conduct analyses. The most significant determining factor in the money supply in the United States is Federal Reserve policy. The term "money stock" also applies to the money supply.

Learn more about money supply here

brainly.com/question/24249291

#SPJ4

5 0
1 year ago
When conducting an independent audit the accountant is to evaluate a company's financial statements and?
Dmitry_Shevchenko [17]

A financial statement audit is the examination of an entity's financial information and accompanying exposures by a liberated auditor.

<h3>What is the main objective of the audit of financial statements?</h3>

The purpose of an audit of financial statements is to enable the auditor to communicate an opinion on whether the financial statements are prepared, in all material respects, by an applicable monetary reporting framework.

External auditors are accountable for auditing the company's financial statements and delivering reasonable assurance that they are presented fairly and following GAAP and that they recollect a true representation of the company's financial position and end of operations.

To learn about financial statements visit the link

brainly.com/question/14951563

#SPJ4

3 0
2 years ago
Lebron james, stephen curry, and other athletes are paid huge sums of money by companies for celebrity endorsements. if endorsem
Alja [10]

I believe the answer is: positioning strategy.

Positioning strategy refers to the strategy to cemented company's image and perception in the mind of the consumers. When a company use endorsement from famous figure for its product, it would create the perception that the quality of the product must be good since many of the people that being idolized use the product.

4 0
2 years ago
As owner of a retail franchise food store, Mary Grey purchases supplies based on specials advertised nationally throughout the f
Artemon [7]

Answer: Sharing information across the organisation

   

Explanation: In the given case, Mary grey is the owner of a retail store hence it is her duty to know all the goods that are offered by her store. However she did not knew the special goods when the customers asked for it.

This shows that the franchise company is not performing effectively in the area of sharing information as all the stakeholders do not know all the relevant information.

7 0
3 years ago
A business must decide whether to open a new office in China. If it opens the
ivolga24 [154]
D a is the correct answer I’m pretty sure
4 0
3 years ago
Other questions:
  • During the current month, Sheffield Company incurs the following manufacturing costs. (a) Purchased raw materials of $17,800 on
    14·1 answer
  • Which of these items is not considered to be a want?
    14·1 answer
  • CodeDesk Inc matches programmers with freelance jobs. It has 35 employees who staff its online chat room. It receives, on averag
    7·1 answer
  • At the beginning of 2018, Rex Co. showed a debit balance in the cash account of $20,500. Total debits to this account during the
    10·1 answer
  • Charlie Chairs Inc., manufactures plastic moldings for car seats. Its costing system utilizes two cost categories, direct materi
    10·1 answer
  • The ledger of Mai Company includes the following accounts with normal balances: Common Stock, $10,200; Dividends, $1,400; Servic
    14·1 answer
  • The rate of unemployment when the economy is not in recession, meaning it is producing full-potential GDP, is called the natural
    9·1 answer
  • A person that studies how economic theories such as capitalism, socialism, and
    10·1 answer
  • How does the Hockey Stick of Human Prosperity demonstrate changes to economies? Include at least two
    10·1 answer
  • The product market is the place where _______. Multiple choice question. businesses sell resources and households buy resources
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!