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zimovet [89]
3 years ago
7

In which category do commodities belong?

Business
2 answers:
postnew [5]3 years ago
5 0

Answer:

D.neither short- nor long term investment

Mamont248 [21]3 years ago
5 0

Answer:

c. either short- or long-term investment

Explanation:

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What is the major purpose of a bank reconciliation statement?
lara31 [8.8K]
Purpose of a bank reconciliation statement.
A bank reconciliation statement is used to compare your record to those of your bank to see if there is difference between the two sets of records. The ending balance of your version of cash records is known as the book balance while the bank`s version is known as bank balance. It is common for there to be a difference in the two balances. The results to the differences might be due to overdrawn bank account, bounced checks and overdraft fees. It is important for you to check the difference because there might be substantial variance between the amount you think you have and that the bank thinks you have. In some cases the bank may even elect to close down your account. 
3 0
3 years ago
On March 1, Lincoln sold merchandise on account to Amelia Company for $27,300, terms 1/10, net 45. On March 6, Amelia returns me
xenn [34]

Answer:

Explanation:

The journal entries are shown below:

Accounts receivable A/c Dr $27,300

              To Sales A/c $27,300

(Being goods are sold on credit)

Sales return and allowance A/c Dr $3,000

              To Accounts receivable $3,000

(Being sales return is recorded)

Cash A/c Dr                   $24,057

Sales Discount A/c Dr $243

     To  Accounts receivable    $24,300

(Being cash received recorded)

The computation of the account receivable  

= Credit sales - returned goods

= $27,300 - $3,000

= $24,300

And, the discount would be

= Accounts receivable × percentage given

= $24,300 × 1%

= $243

The remaining amount would be credited to the cash account.

8 0
4 years ago
In 2019, Whispering Winds Corp. had net sales of $973,000 and cost of goods sold of $570,900. Operating expenses were $220,300,
tester [92]

Answer:

Whispering Winds Gross profit is $402,100

Explanation:

Multi step income statement differentiate the the operating revenue and expenses from non operating revenue and expenses. It shows the gross profit, operating profit and net profit separately.

     Whispering Winds Corp.

 Income statement for the year 2019

Net sales                               $973,000

Less: Cost of goods sold     <u>$570,900</u>

Gross Profit                                            $402,100

Less:Operating expenses                     <u>$220,300</u>

Operating Profit                                     $181,800

Less: Interest expense                          <u>$14,600  </u>

Profit before Tax                                    $167,200

7 0
3 years ago
Which one of the following statements concerning interest rates is correct?
DIA [1.3K]
Where is the statements or answer choices?
6 0
3 years ago
He Wall Street Journal reports that the rate on three-year Treasury securities is 4.75 percent and the rate on four-year Treasur
Volgvan

Answer:

1 +1R4= {(1 +1R3)(1 + E(4r1) +L4)}1/4

1.0500 = {(1.0475)^3(1 + 0.0525 +L4)}1/4

(1.0500)^4= (1.0475)3^(1 + 0.0525 +L4)

(1.0500)^4/(1.0475)^3= 1 + 0.0525 + L4

(1.0500)4/(1.0475)^3-1.0525

L4= .0050358564 = 0.504%

4 0
3 years ago
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