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3 years ago

A bank that uses a computer system to record deposits and withdrawals from its customers' checking accounts is using a(n):

Business

1 answer:

erastova [34]3 years ago

5 0

Answer: transaction processing system

Explanation:

A bank that uses a computer system to record deposits and withdrawals from its customers' checking accounts is using a transaction processing system.

Transaction processing system is when the system is used in the processing of transactions and data is being sent and recorded in the system.

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Analyzing and Computing Accrued Warranty Liability and Expense Waymire Company sells a motor that carries a 60-day unconditional

Elenna [48]

Answer:

the warranty expense reported is $138,000

Explanation:

a. The computation of the warranty expense that should be reported in its current period income statement is shown below:

= Given percentage × units sold × repair average cost

= 2% × 69,000 units × $100 per units

= $138,000

Hence, the warranty expense reported is $138,000

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3 years ago

In 2018, it was discovered that Jenson Technologies had debited an expense account for the $400,000 cost a computer purchased on

satela [25.4K]

Answer:

Explanation:

journal entry will Jenson use to correct the error

Date Account Titles And Explanation Debit Credit

Computer $400,000

Accumulated depreciation ($100,000 × 2 years) $200,000

Retained earnings ($400,000 - $200,000) $200,000

Annual depreciation = (Cost - Salvage Value) / 4

= ($400,000 - 0) / 4

= $100,000

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3 years ago

When products and services are produced or provided, which function is responsible for ensuring that those products and services

Anvisha [2.4K]

Answer:

The function that is responsible for ensuring that those products and services meet high quality standards are the OPERATIONS

Explanation:

Operations management is the business function which is responsible for managing the process of creation and coordination of goods and services. It involves planning, organizing, coordinating and controlling all the resources needed to produce a company goods and services. And it also ensures that products and services meet high quality standards.

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4 years ago

Cargo Industries began the month with a $10,000 debit balance in the Cash account. During the month, the total of the debit entr

alukav5142 [94]

Answer:

B$10,800 debit balance.

Explanation:

In the given question, first we have to compute the difference of cash account which equals to

= Total debit entries - Total credit entries

= $4,800 - $4,000

= $800 debit

Now add this amount to the beginning balance which equals to

= Beginning amount of cash balance + Difference amount

= $10,000 + $800

= $10,800 debit

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4 years ago

On september 12, vander company sold merchandise in the amount of $7,600 to jepson company, with credit terms of 2/10, n/30. the

densk [106]

If Vander Company uses the periodic inventory system and the gross method of accounting for sales, the <u>journal entry</u> on September 12 is as follows:

<h3>Journal Entry:</h3>

September 12:

Debit Accounts Receivable $7,600

Credit Sales Revenue $7,600

To record the sale of goods with credit terms of 2/10, n/30.

<h3>What is a periodic inventory system?</h3>

A periodic inventory system does not record the cost of goods sold or maintain an inventory account for inventory transactions until the end of the period.

Under the periodic inventory system, the cost of goods sold is determined in the income statement as the beginning inventory + purchases - ending inventory.

Thus, there are no accounts for the cost of goods sold and inventory because inventory purchased is recorded in the purchases account instead of the inventory account.

<h3>Transaction Analysis:</h3>

Accounts Receivable $7,600 Sales Revenue $7,600

Terms 2/10, n/30.

Thus, if Vander Company uses the periodic inventory system and the gross method of accounting for sales, the <u>journal entry</u> is a <u>debit</u> to the Accounts Receivable account and a <u>credit</u> to the Sales Revenue account for the credit sales only.

Learn more about recording sales transactions at brainly.com/question/25347238

8 0

2 years ago