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Bas_tet [7]
3 years ago
12

Let's say that you make the the following journal entry: Debit Inventory $2,000 Credit Cash $2,000 How does this journal entry a

ffect the accounting equation? [ans1]
Business
1 answer:
koban [17]3 years ago
8 0

Answer:

No net affect: There is both an increase in Assets and a decrease in Assets

Explanation:

The journal entry is as follows

Inventory Dr $2,000

    To Cash $2,000

(Being the inventory is purchased for cash is recorded)

This journal entry states that the inventory is purchased for cash. The inventory is purchased that increases the asset and on the other side the cash is paid for the purchase of increased which decrease the asset

So, there is no impact on the asset side or accounting equation

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Job 434 was recently completed. The following data have been recorded on its job cost sheet:______.
mart [117]

Answer: $26.48

Explanation:

The total cost of producing 2,000 units of Job 434 is;

= Direct materials + Direct labor cost + Manufacturing overhead cost

= 41,000 + (620 hours * 13 ) + ( 10 * 390 hours)

= $‭52,960‬

Unit product cost:

= total cost/ no. of units

= 52,960/ 2,000

= $26.48

5 0
4 years ago
Home inspector Maura was walking Thad through a property inspection. The frame house, on a slab foundation, had mulch piled up a
VladimirAG [237]

Answer:

Mulch next to wood siding may lead to wood rot.

Explanation:

Based on the scenario being described within the question it can be said that Maura was noting this as a concern because Mulch next to wood siding may lead to wood rot.  This mulch can hold moisture for extended periods of time which may cause the wood to rot. Once the wood rots it is too late and must be replaced which depending on the location of the wood can be extremely expensive.

5 0
3 years ago
A government's comprehensive annual financial report (CAFR) is divided into three main sections. The statements, schedules, tabl
Savatey [412]

Answer:

Step wise detailed solution is given in the attached diagram

3 0
3 years ago
In the Reaching Beyond our Borders box titled, "Ethical Culture Clash", the story proves that a large multi-national company suc
kap26 [50]

Answer:

False

Explanation:

Ethical standards are are set of guiding principles that an organisation communicates to its employees as the expected way to do things.

In reaching beyond our borders it is not true that ethical standards of of its employees must be the same as for workers in the United States.

For example an employee living abroad does not spend his whole housing allowance on getting a place to stay as expected in the United States, but puts it to use on other endeavours.

8 0
4 years ago
A nation's real GDP was $250 billion in Year 1 and $265 billion in Year 2. Its population was 120 million in Year 1 and 100 mill
Gnoma [55]

Answer: $2,650 per person

Explanation:

Real GDP refers to the measure of the GDP of a country that has been adjusted due to inflation. Based on the information given in the question, the real GDP per capita in Year 2 will be:

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= real gdp / population

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= 2650

Therefore, the real GDP per capita in Year 2 is $2,650 per person.

3 0
4 years ago
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