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3 years ago

What does the balance on payables control and receivables control account represent

Business

1 answer:

shtirl [24]3 years ago

3 0

<u>Explanation:</u>

Payables control accounts helps to maintain each supplier account as a separate subsidiary ledger and reducing the amount of postings in the general ledger. Receivables control account is useful to maintain the credit sales through separate subsidiary ledger.

When there is a control account then the the trial balance of the firm can be easily prepared by seeing the general ledger.

Book keeping errors can also be identified by reconciling the balance on accounts payable and general ledger accounts.

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A minor explosion occurs at the chemical processing plant of Clement Inc. In order to study the situation and make recommendatio

Dominik [7]

Answer:

A. Safety engineers

Explanation:

Safety engineers are engineers who combine both health and safety in measures while developing procedures and systems with the aim of safeguarding and protecting people from getting injury and illness in the work place or environment. Their job description involves analyzing reasons for accidents, identifying potential hazards, suggesting procedures that can be taken by personnel in that workplace to protect themselves from harm and also preventing the occurence of accidents by bringing in accident proof systems of operations.

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3 years ago

Important aspects of managing that have recently emerged include applying systems thinking, continuously improving quality, and

mixas84 [53]

Answer:

True.

Explanation:

With changing dimension of global market, where customer is considered as king in the market due to highly competitive market with homogenous goods and service are available in the market, where customer find it hard to distinguish between different goods and service, there is only one aspect which can differentiate the goods and service of one product to another is its quality and excellent customer service. Therefore, with the emerging market, it is essential for corporate to manage applying systems thinking, continuously improving quality, and providing excellent customer service.

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3 years ago

Shanna, a calendar year and cash basis taxpayer, rents property to be used in her business from Janice. As part of the rental ag

andreyandreev [35.5K]

}{y}[/tex]Answer:

For part A) The <u>entire 2019 is deductible.</u>

For part B) $9,075

Explanation:

FOR PARTE A) we know the equation is:

$\frac{24,200}{y} number of months$ where y is 12 (which means the entire year) and the number of months will be also 12. So the equation will be:

$\frac{24,200}{12} 12$ and the answer will be 24,200 which means the entire year is deductible.

FOR B) the equation to be used will be replaced by 24 (two years) and the number of month will be 9.

so the equation is:

$\frac{24,200}{24} 9$

the answer wil be $9,075

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4 years ago

A service provided by e-government that requires access to the Internet is _____.

Elan Coil [88]

RFID tags in my idea...

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3 years ago

Read 2 more answers

Flint Company sold 202 color laser copiers on July 10, 2020, for $3,720 apiece, together with a 1-year warranty. Maintenance on

vlabodo [156]

Answer:

Flint Company Journal entry

Jul. 10,2020

Dr Cash 751,440

(202*3,720)

Cr Sales Revenue 751,440

During 2020

Dr Warranty expense 18,560

Cr Inventory 18,560

Dec. 31,2020

Dr Warranty expense 53,150 (202*355)-18,560

Cr Warranty Liability 53,150

Explanation:

On July 10 2020 Flint Company was said to sold 202 of his color laser copiers for $3,720 which means we have to Debit cash with an amount of 751,440(202*3,720) and Credit sales Revenue with the same amount.

December 31, 2020 the Actual warranty costs incurred were $18,560 which means we have to Debit Warranty expense with 18,560 and Credit Inventory with 18,560

The Maintenance on each copier during the warranty period was estimated to be $355 which means we have to Debit Warranty expense with 53,150 [(202*355)-18,560] and

Credit Warranty Liability with 53,150.

8 0

4 years ago