Answer:
The correct answer would be, Credit always goes on the right side.
Explanation:
General Ledger is the set of accounts that businesses keep and maintain to have a record of their financial transactions. These ledger accounts help the accountants to make the financial statements and reports of the organization. Each account contains full detail about the specific account title. For example there would be a general ledger of Cash and this ledger will record all cash related transaction, and in the end will tell you the balance of cash account.
The format to write the ledge is to make a T account, and write Debit on the left side and credit on the right side, and record the transactions.
Amortization is a method applied to periodically lower the book value of an intangible asset over a specified period of time. After one year of payment, the total interest would be $1,100.
<h3>What is amortization?</h3>
Amortization means scattering payments over manifold periods. The term is used for two discrete processes. Amortization of loans and amortization of assets.
In the last-mentioned case, it refers to delegating the cost of an intangible asset over a period of time.
The total amount of interest that would be paid in the first year is $1,100 which is shown in the image given below.
Therefore, the amount of total interest payment would be $1,100.
Learn more about amortization, refer to:
brainly.com/question/7274714
Answer:
Pay
Explanation:
Auto liability insurance helps offset the costs of bodily injuries and property damages to the other driver. The principle applies if you are the one at fault in the of an accident.
Auto liability insurance coverage is mandatory by law. It covers the medical expenses of the other party. In some circumstances, it may cover lost wages and legal fees in case the other party files a lawsuit. It also covers the repair or replacement cost of the other drivers' car.
Answer:
Comparability means using the same accounting principles from year to year within a company.
Explanation:
Comparability is a term often used in accounting operation to describe the degree or level to which the information shown in the financial statements of a particular company is relative or comparable with other various companies, over a given period of time.
Hence, in this case, the correct answer is "Comparability means using the same accounting principles from year to year within a company." Because the statement is not CORRECT.
Answer: At Mark’s Furniture, all the carpenters are in one group, and all the upholsterers are in another.
Explanation:
Functional structures refer to the grouping of company departments based on what the labor involved do for the company i.e. their functional expertise.
Mark's company is therefore using a functional structure because it groups its workforce by their functional expertise with carpenters in one group and upholsters in another.
Most companies follow this strategy which is why companies have departments such as accounting, human resources, marketing and production.
