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Zielflug [23.3K]
2 years ago
14

Juan Kirby is confused about how accounting information flows through the accounting system. He believes the flow of information

is as follows. (a) Debits and credits posted to the ledger. (b) Business transaction occurs. (c) Information entered in the journal. (d) Financial statements are prepared. (e) Trial balance is prepared.
Business
1 answer:
Zanzabum2 years ago
7 0

Explanation:

The following steps to flow the accounting information        

(b) Business transaction occurs.

(c) Information entered in the journal.  It includes the narration part

(a) Debits and credits posted to the ledger to their respective accounts

(e) A trial balance is prepared.  It aims to match the total debit and total credit columns

(d) Financial statements are prepared so that it could analyze the financial performance, position of the business organization

All these above steps are to be followed systematically so that the financial statement could be present in an accurate and ethical way. It must be free from any bias, it always be presented independently.

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If someone stole from you ... and you stole it back ... would you technically still be stealing it ? .
dsp73

Answer:

yes that would still be stealing unless you where taking back what they stole from you but if you take a random thing that wasn't yours to begin with that would be stealing

8 0
2 years ago
Read 2 more answers
Molly sells bracelets to Jean's Place, a boutique store. Molly is scheduled to deliver 100 bracelets on July 1. On June 15, Jean
BabaBlast [244]

Answer: False

Explanation:

The contract is such that Molly agreed to bring bracelets if Jean would pay for said bracelets.

The terms of the contract therefore are that Jean would pay and Molly would deliver. Jean then calls Molly and says that they will be unable to pay which means that they are not going to be able to hold up their responsibilities in the contract.

Molly has the right to then cancel the contract because the other party will not be able to perform their obligations and face no repercussion for it.

6 0
3 years ago
Indicate whether the scenarios would result in an increase, a decrease, or no change in the long-run aggregate supply (LRAS) cur
Anastaziya [24]

Answer:

1. The mandatory retirement age in Wonkaland is abolished.

  • INCREASE IN THE LONG RUN AGGREGATE SUPPLY CURVE: greater use of labor

2. Wonkaland's main export is candy. Candy from this country increases in popularity as consumers all over the world want to buy Wonkalandian candy.

  • NO CHANGE IN THE LONG RUN AGGREGATE SUPPLY CURVE

3. Since candy from Wonkaland has become an international sensation, factories in Wonkaland double the number of candy making machines.

  • INCREASE IN THE LONG RUN AGGREGATE SUPPLY CURVE: greater use of capital investments

4. The top candy companies in Wonkaland chose to relocate their means of production to other countries around the world.

  • DECREASE IN THE LONG RUN AGGREGATE SUPPLY CURVE: lower use of capital investments

Explanation:

The long run aggregate supply curve is only affected by changes in capital, labor and technology. If the use of these factors increases, the LRAS curve will increase, if their use decreases, then the LRAS curve decreases.

4 0
3 years ago
Saturn Industries purchased and consumed 64,000 gallons of direct material that was used in the production of 17,000 finished un
Nikitich [7]

Answer:

The actual price = $1.08

Explanation:

The standard material price can be worked out as follows:

<em>Step 1: Work out the standard price of material  using the material usage variance</em>

Standard price = Material usage variance/(standard quantity of material - actual quantity)

Standard quantity of material = standard qty per unit × actual production

                                              = 4 × 17,000 =68,000

Standard price =  2,800/(68,000-64,000)= $0.7

<em>Step 2 : Work out the Actual material price using the material price variance</em>

Material price variance = (Standard price - Actual price )× Actual quantity of material

6,400 =  (y - 0.7) ×  17,000

6400 = 17,000y  - 11,900

17,000 y = 6,400 + 11,900

y = 18,300/17,000= 1.08

The actual price = $1.08

5 0
3 years ago
A bond that is initially sold primarily in countries other than the country of the currency in which the issue is denominated is
Murljashka [212]

International bond that is sold primarily in countries other than the country of the currency in which the issue is denominated.

<h3 /><h3>What is Eurobond?</h3>

A Eurobond is a debt instrument that's denominated in a currency other than the home currency of the country or market in which it is issued.

Eurobonds are frequently grouped together by the currency in which they are denominated, such as Eurodollar or Euro-yen bonds.

Eurobonds are the bonds denominated in a currency other than that of the country in which they are issued.

A bond denominated in Japanese Yen and issued in the UK, or a bond denominated in US dollars and issued in France or the UK are examples of Eurobonds.

To learn more about Eurobond, refer to:

brainly.com/question/26271508

#SPJ4

5 0
1 year ago
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