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expeople1 [14]
3 years ago
9

A. Adjustments would not be necessary if financial statements were prepared to reflect net income from lifetime operations.

Business
1 answer:
Artemon [7]3 years ago
7 0

Answer:

The correct answer is A

Explanation:

In accounting the adjustment, is described as the transaction of the business, which is not involved or recorded in the records of the accounting of the firm at a particular or a specific data.

All of the transactions are reported by the recordation and its example are customer billing, cash collection and supplier invoice.

If the operations of the lifetime are reflected from the net income, then the adjustments does not needed to passed or reported.

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Mrs. Cox, a head of household, earned a $313,000 salary and recognized a $29,300 net long-term capital gain this year. Use Indiv
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3 years ago
Accompanying the bank statement was a debit memorandum for an NSF check received from a customer. This item would require an adj
tamaranim1 [39]

Answer:

The correct answer is debit accounts receivable, credit cash.

Explanation:

Note debit is a receipt that a company sends to its client, in which it is notified that it has charged or debited a certain sum or value in its account, for the concept indicated in the same note. This document increases the value of the debt or account balance, whether due to an error in billing, interest for late payment, or any other circumstance that means an increase in the balance of an account.

6 0
2 years ago
pencer Co. has a $300 petty cash fund. At the end of the first month the accumulated receipts represent 553 for delivery expense
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Answer:

c) Credit to Cash for $242

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Miscellaneous expense = $22

Petty cash, Ending = $58

The journal to record the reimbursement of the accounts will be:

Event    Account Title and Explanation   Debit    Credit

1           Delivery expense                            $53  

           Merchandise inventory                   $167  

           Miscellaneous expense                  $22

                    Cash                                                   $242

4 0
3 years ago
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