1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
OLga [1]
3 years ago
13

Credit sales are recorded by crediting an accounts receivable.

Business
1 answer:
Anna35 [415]3 years ago
8 0
The answer to the sentence above is false based on the transaction above. Account Receiveable is an asset account which has "debit" as its natural balance. Recording credit sales will increase the account receivable balance and sales balance, thus an increase in account receivable balance occurs on the debit side.
You might be interested in
Question 1 of 10
madreJ [45]

Answer:

B. Thanks can have collection agencies seize part of the borrowers income

Explanation: I just got it right for a p e x

5 0
2 years ago
Read 2 more answers
The Card Shoppe needs to maintain 18 percent of its sales in net working capital. Currently, the store is considering a four-yea
mylen [45]

Answer:

$56,520

Explanation:

As per given data

Year     Sales          Working Capital 18%

   0      $279,000   ($50,220)

   1       $308,000   ($5,220)

   2      $314,000    ($1,080)

   3      $314,000    $0

   4      $314,000   $56,520

As the sales value of year 2, 3 and 4 are same, as capital is adjusted in year 2 and company has equal working capital required in year 3, years 4 is the last year of the project so, working capital will be recovered from the project

Net Working capital will be reimbursed at the end of the project. The accumulated value of investment in working capital will be recorded as cash inflow in the analysis.

0 0
3 years ago
In 2019, Jonathan pays real estate taxes of $18,000 and New York State income taxes of $17,000. Assuming he itemizes, what deduc
-Dominant- [34]

Answer: $28,000

Explanation:

Jonathan can deduct both the real estate taxes and the state income taxes but the Tax Cuts and Jobs Act cut the deduction one can claim on State and Local taxes to $10,000 from 2018 to 2025.

The total deduction Jonathan can claim is therefore:

= Real estate taxes + Capped state income tax

= 18,000 + 10,000

= $28,000

6 0
3 years ago
What was the greatest percentage loss in your total portfolio?
Natasha2012 [34]

-2.99% was the greatest percentage loss in total portfolio.

Subtract the purchase price from the current price and divide the result by the asset's purchase prices to determine the net gain or loss in the portfolio. The above method can be modified to determine a portfolio's percentage return. You will base your calculations on the overall value of your portfolio rather than the stock's acquisition price and market value.

A stock portfolio is a selection of equities you purchase in the anticipation of a profit. You can become a more robust investor by assembling a varied portfolio that spans several industries.

To learn more about portfolio refer here:

brainly.com/question/17165367

#SPJ4

Complete Question:

You'll now need to do some math to compute the percentage change in the value of your total portfolio. For each monthly statement, add up the value of the two funds to get your total portfolio value at the end of that month. Compute the month to month percentage change of the value of your portfolio by subtracting the beginning value from the ending value and then dividing it by the beginning value . What was the greatest percentage loss in your total portfolio?

3 0
1 year ago
Eurocurrency is the euro, the common currency of Europe. is a time deposit of money in an international bank located in a countr
Leona [35]

Answer:

is a time deposit of money in an international bank located in a country different from the country that issued the currency.

Explanation:

In economics or financial accounting, money can be defined as any asset used by an individual or business entity to make purchases of goods and services at a specific period of time.

Simply stated, money refers to any asset which can be used to purchase goods and services by customers.

This ultimately implies that, money is any recognized economic unit that is generally accepted as a medium of exchange for goods and services, as well as repayment of debts such as loans, taxes across the world.

Additionally, the rate at which an asset can be used to purchase any goods or services refers to its liquidity. Thus, liquidity is a quality or characteristics of money as a medium of exchange. Therefore, money is a generally accepted medium of exchange around the world.

The three (3) main functions of money all over the world are;

I. Medium of exchange.

II. Unit of account.

III. Store of value.

The European System of Central Banks (ESCB) which was established under the Treaty on European Union (TEU).

It comprises of the European Central Bank (ECB) and the national central banks of all the 27 European Union (EU) member states, irrespective of adopting the Euro (£) or not. This has helped the European Union (EU) member states to achieve tight corporations and memorandum of understanding (MOUs) such as TARGET2 (single payment system).

Eurocurrency is a time deposit of money in an international bank located in a country different from the country that issued the currency.

3 0
3 years ago
Other questions:
  • Sleek Designs Inc. is producing its first eReader. The company is striving to overcome some of the issues communicated by custom
    8·1 answer
  • Suppose a local bank increases the fees they charge for their bank accounts by 5 percent. in​ response, the demand for their ban
    14·1 answer
  • Elliot essman asserts that america is a(n) ____________ because the very wealthy do not have much impact on the country in gener
    10·1 answer
  • Because of the open-air configuration of upscale specialty stores, coupled with entertainment and restaurants, ________ are very
    6·1 answer
  • In a dealer market, some dealers hold a certain inventory of specific securities and create a liquid market by purchasing and se
    14·1 answer
  • Which of the following project evaluation methods focuses on accounting income rather than cash flows? None of the answers is co
    13·1 answer
  • TopChop sells hairstyling franchises. TopChop receives $62,000 from a new franchisee for providing initial training, equipment,
    7·1 answer
  • Conduct an interview with a person in a management position at a consumer services-related organization. Central question: what
    6·1 answer
  • in preparing a statement of cash flows under the indirect method, an increase in accounts payable would be reported or included
    7·1 answer
  • Aster Inc. has developed a new digital three-tier food steamer. Though the product comes with a self-explanatory manual, the con
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!