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3 years ago

How is owner’s equity affected when is paid for expenses?

Business

1 answer:

Kobotan [32]3 years ago

4 0

Answer:

Profit and loss are directly linked to the amount of money the company is spending to run its business -- its operating expenses. So changes in operating expenses naturally affect owner's equity.

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Credit Losses Based on Credit Sales Lewis Company uses the allowance method for recording its expected credit losses. It estimat

ASHA 777 [7]

Answer:

Explanation:

The adjusting entry to record the credit losses is shown below:

Bad debt expense A/c Dr $45,000

To Allowance for doubtful debts $45,000

(Being bad debt is recorded)

The credit loss computation is shown below:

= Credit sales × estimated percentage

= $900,000 × 5%

= $45,000

For recording this transaction, we debited the expense account and credited the contra asset account.

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3 years ago

QS 5-3 Merchandise accounts and computations LO C2 Kleiner Merchandising Company Accumulated depreciation $ 700 Beginning invent

irakobra [83]

Answer:

a. $8,900

b. $7,200

c. $2,300

d. $850

Explanation:

Goods Available For Sale Calculation :

Beginning inventory 5,000

Add Net Purchases 3,900

Goods Available For Sale 8,900

Cost of Goods Sold Calculation :

Goods Available For Sale 8,900

Less Ending Inventory (1,700)

Cost of Goods Sold 7,200

Gross Profit Calculation :

Net Sales 9,500

Less Cost of Goods Sold (7,200)

Gross Profit 2,300

Net Income Calculation :

Gross Profit 2,300

Less Expenses (1,450)

Net Income 850

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3 years ago

RAWRRRRRRRRR Whahahaha

____ [38]

Explanation:

wow

I see you are interested in horror movies

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2 years ago

9- 23. Someone argues that an advantage of vouchers would be to allow high school students to learn to weld and operate a mill i

Amiraneli [1.4K]

Answer:

The correct answer is letter "D": vouchers as an efficient and equitable use of public resources.

Explanation:

School vouchers are monetary public resources allocated to private education. States provide parents a certain amount of money so their children go to a private school or, in other cases, that money can be used for homeschooling. The money provided covers part of private schooling only.

Therefore, if a person focuses on providing students technical knowledge that could be useful for students when they join the workforce instead of allocating resources for private regular shooling, that individual is likely to consider that vouchers are not used efficiently neither it brings effective results.

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3 years ago

Suppose you had information on the sales of similar homes just east and just west of the boundary between two school districts.

liraira [26]

Answer:

I would us the data by

Explanation:dividing the difference in the prices of similar homes between districts by the difference in test scores between districts

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3 years ago