1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
pickupchik [31]
3 years ago
14

If the credit to record the purchase of supplies on account is not posted

Business
1 answer:
Ratling [72]3 years ago
6 0
The liabilities will be understated. 
You might be interested in
Which of the following database object hold data?
natta225 [31]

Answer:reports

Explanation:

6 0
2 years ago
In a small manufacturing facility, one welder is needed for every 200 hours of machine-hours or fewer in a month. The welder is
Lerok [7]

Answer:

$16250

Explanation:

For every 200 hours of needed work, $2500 must be paid. We divide the amount of hours needed for 200 to obtain the amount of times that $2500 are paid. Multiplying this number by $2500 we obtain the total expense gor salaried employees.

frac{{1300}{200}}x2500

6 0
3 years ago
A. Is a detailed statement of receipts and expenditures for a period of time in the future
Orlov [11]

Answer

A detailed statement of receipts and expenditure for a period of time in the future is called a Budget

Explanation

An estimate of revenue and expenses over a particular future period of time is referred as the budget. A budget can be made for a family, for an individual or a business entity. In companies, budget is utilized as an internal tool of management.


3 0
3 years ago
The following are selected 2020 transactions of Astin Corporation. Sept. 1 Purchased inventory from Encino Company on account fo
masya89 [10]

Answer:

inventory  50,000 debit

    accounts payable    50,000 credit

--to record purchase of goods--

accounts payable 50,000 debit

      notes payables      50,000 credit

--to record teh issued promissory note to setle the account--

cash                                  50,000 debit

discount on note payable 4,000 debit

  notes payable                            54,000 credit

--to record the discounted note--

Explanation:

a)  we record the purchase as always.

b) we are trading a liability for another. We do not receive for the note.

c) we discount on the note and we are goind to declare the interest expense at maturity or year-end against this discount.

5 0
3 years ago
The main function of – banks is to accept deposits and then to lend the same money (minus –) back out. Banks make a profit by ch
Lynna [10]

Answer:

The main function of COMMERCIAL banks is to accept deposits and then to lend the same money (minus REQUIRED RESERVES) back out. Banks make a profit by charging a higher interest rate on LOANS than the interest rate they pay on DEPOSITS. Through the loan process, banks are actually able to CREATE/MULTIPLY money.

Explanation:

Commercial banks are financial institutions that engages in accepting deposits from the general population and giving back loans for investment in the sole aim of making profits.

Required reserves is the amount of money a bank must hold in order to meet liabilities when there are sudden withdrawals.

Loans are money borrowed out by a financial institution in exchange for the repayment of the loan plus interest.

Deposits are the total amount of money paid into the bank.

Money creation refers to the increase in amount of money supplied from initial deposit.

3 0
3 years ago
Other questions:
  • A 14 kg cannon ball is fired from a cannon with muzzle speed of 1319 m/s at an angle of 19.1 ◦ with the horizontal. The accelera
    7·1 answer
  • Mars inc., a manufacturer of cat food in texas, places an ad in a publication aimed at veterinarians. the ad explains why they s
    9·1 answer
  • Were did west African slave traders get their slaves to sell to Europeans ​
    9·1 answer
  • Marker Corp. exchanged an old truck for a piece of equipment and cash on January 1st 2019. The truck was purchased at a cost of
    6·1 answer
  • You bought one of Great White Shark Repellant Co.’s 8 percent coupon bonds one year ago for $1,044. These bonds make annual paym
    9·1 answer
  • We know that the market should respond positively to good news and that good-news events such as the coming end of a recession c
    8·1 answer
  • Expansionary monetary policy Group of answer choices 1. lowers interest rates, causing aggregate demand to shift to the right. 2
    11·1 answer
  • Sending employees on international assignments is an example of the _________approach to employee development. Group of answer c
    12·1 answer
  • The current average income for American households is approximately $56,000 per year. According to the reading
    5·2 answers
  • If the government subsidizes colleges adn sets the subsidy so that the efficnet number of students entroll, what is the subsidy
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!