Double entry, a fundamental concept underlying present-day bookkeeping and accounting, states that every financial transaction has equal and opposite effects in at least two different accounts. It is used to satisfy the accounting equation:
Assets
=
Liabilities
+
Equity
Assets=Liabilities+Equity
With a double entry system, credits are offset by debits in a general ledger or T-account.
So debit is the answer
Answer: higher than
Explanation: The stockholders of companies in the infant industry gain when they are protected from world competition
-Consumes in that country will therefore pay a price higher than the world price.
If Simone tells Rural Investments Inc. that the land she is trying to sell them will be worth twice a much next year she is giving an estimate or an opinion of that. There is not factual evidence presented to state that the 300-acre farm is going to be worth more in upcoming years. The farm can also depreciate and lose value, so there is no way to truly know until it comes time to sell the land.
According to <em>Robin Leidner</em>, fast-food restaurants rationalize the process of providing food to customers by developing standardized scripts for employees to use when dealing with customers.
There are many advantages associated with the fact that fast-food chains develop standardized scripts for customer service, as this way, they ensure compliance and quality of processes.
Standardization in fast-food restaurants therefore ensures faster service, mechanization of processes and higher quality in food production, since production and service standards must be followed in any unit of a fast-food chain.
Learn more about standardization here:
brainly.com/question/8189591
Answer:
Cost of goods sold= $133
Explanation:
Giving the following information:
A company uses a periodic inventory system. On August 1, the company had 6 items of beginning inventory with a cost of $7 per unit. On August 3, the company purchased 16 units at $14 per unit. Then, on August 5, the company sold 12 units. The 12 units sold consisted of 7 units from the August 3rd purchase and 5 units from the August 1st beginning inventory.
Cost of goods sold= 7*14 + 5*7= $133