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3 years ago

Name the accounts debited and credited for each of the following transactions.

Business

1 answer:

kumpel [21]3 years ago

6 0

Answer:

Explanation:

In this the golden rules of accounting applies, debit the receiver, and credit the giver, debit all expenses and credit all incomes and gains.

1. The journal entry is

Accounts Receivable A/c Dr

To Revenue

(Being work performed is recorded)

2. The journal entry is

Cash A/c Dr

To Accounts Receivable

(Being cash received from customer is recorded)

3.The journal entry is

Office supplies A/c Dr

To accounts payable

(Being office supplies purchased on credit )

4.The journal entry is

Gasoline A/c Dr

To Cash

(Being purchase of gasoline is recorded)

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Quentin's total debt to equity ratio on December 31, 2014, is _______

scoundrel [369]

Answer:

Quentin's total debt to equity ratio on December 31, 2014, is 0.62.

Explanation:

Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached file for the complete question.

The explnation to the answer is therefore given as follows:

The debt-to-equity ratio refers to a financial ratio that is used to measure the relative proportion of debt and Owners' equity that are employed to finance assets of a company.

The debt-to-equity ratio using the following formula:

Debt-to-equity ratio = Total liabilities / Owners' equity ............... (1)

Where;

Total liabilities = Total current liabilities + Non-current liabilities = $72,000 + $34,000 = $106,000

Owners' equity = $170,000

Substituting the value into equation (1), we have:

Debt-to-equity ratio = $106,000 / $170,000 = 0.62

Therefore, Quentin's total debt to equity ratio on December 31, 2014, is 0.62.

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3 years ago

3. Categories of expenditures Edison and Hilary Girard live in Swarthmore, PA. Hilary's father, Kevin, lives in Sweden. For each

Ksivusya [100]

Answer:

Explanation:

1. Hilary's father in Sweden orders a bottle of Vermont maple syrup from the producer's website: included in U.S exports (X) account because it produced in the U.S soil.

2. Hilary gets a new video camera made in the United States: included in Consumption (C) account.

3. Edison's employer upgrades all of its computer systems using U.S.-made parts: included in the Investment (I) account because it is capital expenditure.

4.The state of Pennsylvania repaves highway PA 320, which goes through the center of Swarthmore: included in government purchases (G) account because Pennsylvania repaves are paid by the state of Pennsylvania.

5 .Edison buys a sweater made in Guatemala: included in Imports (M) account because it is consumed in U.S soil but not produced there.

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3 years ago

Memorable advertising messages that are easy to recall and remember should possess which of the following characteristics?

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Answer:

The correct answer is the option A: Testimonial Advertising.

Explanation:

On the one hand, the term of testimonial advertising refers to the action that consists creating an advertise that includes a person's written or spoken statement extolling the virtue of the product that is being advertised. Moreover, this type of technique is characterized by the fact of being used commonly in the sales to the ordinary people because they are the ones that would feel and impact when it comes about someone other giving personal opinion about the product and that is why a testimonial advertising is a characteristic that may be included in a memorable advertising message.

On the other hand, the term prospecting refers to the process of identifying a potential consumers.

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2 years ago

Mega Loan Company has very stringent credit requirements and, accordingly, has negligible losses from uncollectible accounts. Th

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Answer:

The correct answer is letter "C": Materiality.

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