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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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The average annual return over the period 1926-2009 for the S&P 500 is 12.0%, and the standard

arsen [322]

Answer:

C) -30.6%, 54.6%

Explanation:

95% Confidence Interval = (Average Return - 2*Standard Deviation, Average Return + 2*Standard Deviation)

=(0.12 - 2*0.213, 0.12 + 2*0.213)

= -30.6%,54.6%

Therefore, The 95% confidence interval for 2010 returns is -30.6%,54.6%.

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3 years ago

The financial statements report the cumulative impact of all transactions recorded as of the financial statement date. Input the

kompoz [17]

Answer:

Yes, financial statement is a cumulative record of all transactions.

Explanation:

A financial statement is a form of the formal record. Its reports the business, person or an entity. The relevant information is resented by discussion and analysis. Such as balance sheet, income statements, statements of equity, cash flow, and comprehensive statements. Thee by its includes all sorts of financial statements.

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3 years ago

Owen decides to sell his ranch, Pine Ridge, in a live auction. When the auctioneer puts the property up for bids, it will be a.

lianna [129]

Answer:

a. an invitation to submit offers, not an offer itself.

Explanation:

When a property is to be sold at an auction it involves an invitation for interested buyers to submit offers to the seller. The seller will now consider the offers and see the best one for him.

There is usually no price stated for the auction and seller goes for the highest bid.

If however if the seller says that there is no reserve price or that the reserve price was met, it can now be considered an offer in itself.

In this case Owen is offering the property at a live auction and does not state requirements for a reserve price

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3 years ago

The decision-making tool that leverages a map of alternatives with a quantifiable utility, or relative value, assigned to each i

olga2289 [7]

Answer:

Decision tree

Explanation:

The decision tree provides the alternatives and allocated the value and weight for each and every alternative in order to become easier to take the decision that depend on the amount and weight allocated to each alternative

It helps in decision making

So as per the given situation the decision tree is the answer

Hence, the second option is correct

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3 years ago

It costs Sunland Company $26 per unit ($18 variable and $8 fixed) to produce its product, which normally sells for $38 per unit.

Triss [41]

Answer:

Effect on income= $4,400 increase

Explanation:

Because it is a special order and there is unused capacity, we will not take into account the fixed costs.

<u>To calculate the effect on income, we need to use the following formula:</u>

Effect on income= number of units*unitary contribution margin

Effect on income= 4,400 (21 - 18 - 2)

Effect on income= $4,400 increase

4 0

3 years ago