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Zielflug [23.3K]
3 years ago
8

If a two-column (all-purpose) general journal, a revenue journal, and a cash receipts journal are used, indicate the journal in

which each of the following transactions should be recorded: (a) Investment of additional cash in the business by the owner.(b) Rendering of services for cash.(c) Rendering of services on account.(d) Receipt of cash on account from a customer.(e) Sale of office supplies for cash, at cost, to a neighboring business. (f) Adjustment to record supplies used at the end of the year.(g) Closing of drawing account at the end of the year.
Business
1 answer:
Nutka1998 [239]3 years ago
3 0

Answer:

Explanation:

A. Investment of additional cash into the business by owner is recorded in the general Journal

B. Rendering service for cash is recorded in the cash receipt Journal

C. Rendering of service on account is recorded in the revenue journal

D. Receipt of cash on account from a customer is recorded in the cash receipt Journal

E. Sale of office supplies for cash, at cost, to a neighboring business is recorded in the general journal

F. Adjustment to record supplies used at the end of the year is recorded in the general journal

G. Closing of drawing account at the end of the year is recorded in the general journal

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Ariel wants to compare the salaries for positions she was offered at two companies. What should she consider in this process?
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Answer:

  • <em>She should research the cost of living of different locations to compare against the offered salaries.  </em>
  • <em>She should research the benefits included in each offer. </em>
  • <em>She should research the average salary of similar positions to see if the offers are fair. </em>

Explanation:

  • Remember, the cost living at the different locations is good basis to determine how much the actual value of he salary will be worth. For instance if location A pays her $5000 a month and her living expenses from the location takes about $4500, while location B pays her $3500 a month with a living expense of $1000, then she rather goes for location B she has more extra income.

  • Secondly, the benefits included in salaries is also to be considered. Does it includes medical insurance, transport allowance etc.?

  • Third the average industry pay level would also help Ariel know whether to accept any of the offers or not.

8 0
3 years ago
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A new innovation is _________when it fulfills a similar market need, but does so by building on an entirely new knowledge base.
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Answer: technology

Explanation:

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4 0
2 years ago
Pujols Lumber Yard has a current accounts receivable balance of $365,061. Credit sales for the year just ended were $6,842,109.
jeka94

Answer:

19.48 days

Explanation:

Calculation to determine How long did it take on average for credit customers to pay off their accounts during the past year

First step is to determine the receivables turnover for the company using this formula

Receivables turnover = Credit sales / Receivables

Let plug in the formula

Receivables turnover = $6,842,109 / $365,061

Receivables turnover = 18.74 times

Now let determine l the day’s sales in receivables using this formula

Days’ sales in receivables = 365 days / Receivables turnover

Let plug in the formula

Days’ sales in receivables = 365 days / 18.74

Days’ sales in receivables = 19.48 days

Therefore How long did it take on average for credit customers to pay off their accounts during the past year is 19.48 days

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3 years ago
When inventory costs are rising, a company may prefer to use the __________ method in the perpetual system in order to pay the l
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LIFO (Last-in-last-out)

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Last in last out is the method of inventory valuation where the unit that was added in inventory last would be sold first. In case, of rising prices, the unit added in inventory would cost more than the one added first. So, if LIFO is used in case of rising prices, cost of goods sold would be higher. If COGS is higher, income will fall, thereby reducing tax liability.

So, if the firm wants to pay lower taxes during price rise, it should opt for LIFO method to value inventory.

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baird purchased a landlocked tract from carr on the condition that carr grant baird an easement across carr's property to a road
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Dole has a legal right of way through Carr's property because the easement follows the land and not the owner.

The Indian Easements Act of 1882's Section 4 defines the term "easement." According to Section 4's guidelines, an easement right is a privilege that a landowner or occupier has over another piece of property that is not his own and that is intended to allow for the beneficial use of the property. Because an occupier or owner cannot completely enjoy his own property without this privilege, it is allowed. It also includes the right to take action or continue to take action in relation to or with regard to some other land, other than his own, for the pleasure of his own land.

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2 years ago
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