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3 years ago

For each of the following accounts indicate the effect of a debit or a credit on the account and the normal balance.

Business

1 answer:

Brilliant_brown [7]3 years ago

8 0

Answer and Explanation:

As we know that

The assets, expenses, and the dividend contains the debit normal balance while the liabilities, revenues and the stockholder equity contains the credit normal balance

Based on this, the classification are as follows

Particulars Debit Effect Credit Effect Normal Balance

(1) Salaries and Wages Expense Increase Decrease Debit

(2) Accounts Receivable Increase Decrease Debit

(3)Service Revenue Decrease Increase Credit

(4) Dividends Increase Decrease Debit

(5 Retained Earnings Decrease Increase Credit

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You and your friends want to buy a condo at the beach to time share. Each of you has single peaked preferences with a most prefe

Gemiola [76]

Answer:

Individual Cost Shares to be enjoyed

Mabel $10,000 10000 / 150000 = 6.67%

Gertrude $20000 20000 / 150000 = 13.3%

Myron $30000 30000 / 150000 = 20%

Wilber $40000 40000 / 150000 = 26.6%

You $50000 50000 / 150000 = 33.3%

Explanation:

peaked preferences

Most preferred value to spend :

Mabel = $10,000

Gertrude = $20,000

Myron = $30,000

Wilber = $40,000

you = $50,000

cost of Condo = $150,000

<u>Implementing a Uniform rule mechanism to allocate costs and shares </u>

The uniform rule ; ∑ j∈I Uj (p) = Ω.

where Ω = fixed amount of resource

hence the summation of all allotment should = Ω ( $150,000 )

Number of friends = 5

cost of condo = $150,000

If divide equally each person will have to pay ; $150,000 / 5 = $30,000

Total money to be spent by friends = 10,000 + 20,000 + 30,000 + 40,000 + 50,000 = $150,000

Individual Cost shares to be enjoyed

Mabel $10,000 10000 / 150000 = 6.67∑%

Gertrude $20000 20000 / 150000 = 13.3%

Myron $30000 30000 / 150000 = 20%

Wilber $40000 40000 / 150000 = 26.6%

You $50000 50000 / 150000 = 33.3%

∑shares ≈ 100% ( 150,000 )

6 0

3 years ago

Leather Shop earned net income of $ 71,000 after deducting depreciation of $ 5,000 and all other expenses. Current assets decrea

Thepotemich [5.8K]

Answer:

$89,000

Explanation:

Given that,

Net Income = $71,000

Depreciation = $5,000

Increase in Current Liabilities = $9,000

Decrease in Current Assets = $4,000

Net Cash from Operating Activities:

= Net Income + Depreciation + Increase in Current Liabilities + Decrease in Current Assets

= $71,000 + $5,000 + $9,000 + $4,000

= $89,000

Therefore, the Leather Shops cash provided by operating activities (indirect method) is $89,000.

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3 years ago

O of 2<br> Fill in the Blank Question<br> A discount related to early payment is a

Tasya [4]

is a discount that buyers can receive in exchange

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3 years ago

When a company is able to expand its operations by exporting globally, it can often achieve greater economies of scale which res

gogolik [260]

When a business is able to grow by exporting its products around the world, it can frequently attain larger economies of scale, which leads to reduced unit costs.

A company's production unit cost often goes down as it grows. This reduction is the result of economies of scale. By employing the least expensive production techniques, profits will be maximized.

Consumers' prices are lowered as a result of lower cost-per-unit, which increases their real wages overall and makes it easier for them to locate affordable goods.

Businesses from one country offer their goods and services to clients or consumers in another country through the exporting process.

When a company produces more goods at a larger scale while paying less money on average per unit of output, this is a phenomenon known as economies of scale.

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10 months ago

How can an organization develop strategic flexibility?

Anastaziya [24]

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3 years ago