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rusak2 [61]
3 years ago
13

A company's chart of accounts is: a detailed list of the accounts that make up the five financial statement elements. the set of

journal entries that makes up the components of owners' equity. used for entries that offset other accounts.
Business
1 answer:
polet [3.4K]3 years ago
8 0

Answer:

A detailed list of the accounts that make up the five financial statement elements.

Explanation:

The company's chart of accounts is the listing of all the accounts that the company has included as part of the five financial statement elements during a specific period of time.

The five financial statement elements are: assets, liabilities, equity (part of the balance sheet), expenses and revenues (part of the income statement).

Examples of accounts that can be part of a firm's chart of accounts are: land (asset), cash (asset), notes payable (liabilities), outstanding stock (equity), operating expenses (expenses), and sales revenue (revenues).

The chart of accounts can differ greatly from company to company simply because companies engage in vastly different economic activities.

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What factors contribute to commerce
Burka [1]

Different factors contribute to commerce including the export and import of a country, their ease of doing business  and their own situation in the market.

Explanation:

The factors that affect commerce are the ones that dictate the face of a given market. if the market is considered easy to trade in then the commerce is supposed to be easy and smooth flowing

This is hampered by laws and the import and export tariffs of a country. The more inviting these are the more commerce happens in a place.

It also depends on how many businesses are able to function in the setup and the more businesses there are the more commerce happens in the end.

3 0
3 years ago
Pluralistic ignorance efffect. How to apply in business administration? Give example
MrRa [10]
Pluralistic ignorance effect is a practice in which no ones believes but everyone thinks they believes.  This is very particular to a business administration environment. I'll give you an example, 
You are the kind of person that wants cleanliness and you notice that your friend is so messy, supposed to be you will tell her about her messiness but you noticed that no one cares about her, thus you stopped yourself from speaking,
3 0
3 years ago
BeFriends Corporation uses the trademark of Community Life Inc., a social media site, as a meta tag without Community Life’s per
timama [110]

BeFriends Corporation uses the trademark of Community Life Inc.  a social media site, as a meta tag without Community Life’s permission. This may be permissible​ (a) if the appropriating site has nothing to do with the meta tag.

<u>Explanation:</u>

The using of the Meta Tag is Permissible because the trade mark name is being used for a different product or service and it does not involve any kind of  trade mark infringement.

4 0
3 years ago
Read 2 more answers
At the end of its first year, the trial balance of Ivanhoe Company shows Equipment $30,600 and zero balances in Accumulated Depr
Bas_tet [7]

Answer:

Dr Depreciation Expense $3,620

Cr Accumulated Depreciation-Equipment $3,620

Explanation:

Based on the information given we were told that the company had zero balances in both Accumulated Depreciation -Equipment as well as the Depreciation Expense in which the Depreciation amount for the year is estimated to be $3,620 which means that the adjusting entry for depreciation at December 31 will be recorded as:

Preparation of Journal entry

Dec. 31

Dr Depreciation Expense $3,620

Cr Accumulated Depreciation-Equipment $3,620

5 0
3 years ago
At the end of April, Cavy Company had completed Jobs 766 and 765. The individual job cost sheets reveal the following informatio
bulgar [2K]

Answer: See explanation

Explanation:

The balance on the job cost sheets for each job will be:

Job 765:

Direct materials = $6160

Direct labor = $1848

Overhead cost = 22 × $107 = $2354

Total job cost = $6160 + $1848 + $2354 = $10362

Job 766:

Direct materials = $13338

Direct labor = $4212

Overhead cost = 78 × $107 = $8346

Total job cost = $13338 + $4212 + $8346 = $25896

3 0
3 years ago
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