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ivanzaharov [21]
3 years ago
9

Review the transactions below and select the one that would be journalized in a general journal when specialized journals are us

ed within the business.
A. Purchasing equipment by issuing a check
B. Receiving a cash payment from a customer
C. Purchasing inventory on account
D. Purchasing equipment by issuing a note payable
Business
1 answer:
nignag [31]3 years ago
4 0

Answer:

The correct option is D,purchasing equipment by issuing a note payable

Explanation:

Issuing check to pay for equipment purchase,receipt of cash from a customer as well as purchase of inventory on account are all usual transactions that take place regularly within a business ,hence do not require any specialized journals in posting them in the books of account.

However,purchase of equipment by issuing a note a more complex transaction that seldom occur,it is important to reflect in the accounts in a special way in order to draw attention to it that it is a special transaction that should be handled different from other transactions

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A housecleaning agency was given a key to a customer's house so that the agency could have its employees clean while the homeown
poizon [28]

Answer:

C. She will prevail, because the maid's failure to lock the door created the risk that someone might enter and take the homeowner's valuables.

Explanation:

Based on the argument presented above, the homeowner will likely prevail against the agency because, the maid whibis an employee of the cleaning agency got the home exposed by failing to get the doors locked which might have allowed unwarranted entry into the building. The fact that there was no forced entry through any of the entry channels and the disappearance of valuables gives the homeowner a stronger case to make in this scenario in her case against the agency.

7 0
3 years ago
Blair Automotive performed mechanic services for two customers. The first customer owed $5,280 for services, so Blair Automotive
Fiesta28 [93]

Answer:

The first transaction will be recorded as a note receivable, whereas the second transaction will be recorded as an account receivable.

Explanation:

The first transaction is a note recievable which is a credit instrument that requires the debtor to pay interest. The period for repayment bis usually above 30 days. Blair Automotive made the first customer sign a written promise to pay in full after six months with an annual interest rate of 3.5%.

The second transaction is an account recievable which are claims for payment that is raised by a business for delivery of products and services, it is payable within an agreed time frame. Accounts receivable does not attract interest payment. Blair Automotive sends the second customer a bill within the next two weeks, due within 30 days of receipt of the bill.

8 0
4 years ago
A broker operates an office in a town on the state line. A buyer from the adjoining state wants to see homes on both sides of th
evablogger [386]

Answer:

In this case, the broker:

b. may not show the buyer homes in the other state without a non-resident license.

Explanation:

A state line is a boundary that defines one state from another. States are defined by the state line that encloses them.All states in the United States have specific rules that govern their social, political and economic welfare. Conducting a business in a state requires that one has to firstly get information on the laws that regulate business activities in the area. The most common document that one needs to operate a business in any given state is a business license. The business license gives one the legal right to conduct his/her duties in the particular state.

Operating in a state has to be understood before determining whether or not one will need some kind of legal right to conduct his/her business. The requirements for one to qualify as operating in a state are;

1. When one owns property in that state.

2. Having facilities in that state where formal meetings regularly take place

3. Selling in the state using a party directly related to your business

4. When an individuals owns a bank account in that state

In our case, since the brokers action can be termed as business related and he/she is not a resident of any of the adjoining states, the broker has to have a non-resident license to show the buyer homes in those states.

3 0
3 years ago
In a telephone conversation, a jewelry maker offered to buy 100 ounces of gold from a precious metals company if delivery could
Katarina [22]

Answer:

No

Explanation:

Since in the question there is a situation given in which there is a telephonic conversation and later onwards the jewelry maker refused to accept the goods delivery or pay $65,000 as per the company

So this represents that there is no enforceable contract lies between the company and the jewelry maker as the agreement is not in writing so it would not be considered as a valid contract

hence, the answer is no

7 0
4 years ago
Which best explains how the media piece's visual images communicate the viewpoint that you don't need anything fancy to wash you
svetlana [45]
The answer is B. the ad shows bars of soap and and a bathroom sink, i just took the test 
4 0
4 years ago
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