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3 years ago

Real data vs nominal data what is the difference

Business

1 answer:

Vladimir [108]3 years ago

8 0

Answer:

In economics, nominal data are values expressed in monetary terms for a given year whiles real data are values that have been adjusted for price level changes.

Explanation:

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A subsidiary ledger:(A) used in place of the general ledger if the general ledger is destroyed or stolen.(B) a group of accounts

gayaneshka [121]

Answer:

The correct option is C

Explanation:

Subsidiary ledger are those kind of the ledger which is stated as the group of the similar or common accounts, whose combined balances are equal to the balance in the particular account of general ledger.

The general ledger is the account that summarizes or provide detailed information of the account balances of the subsidiary ledger is recognized as the control account or the master account.

The subsidiary ledger are those group of accounts which have a similar characteristic and provide summarized information regarding the control account.

3 0

3 years ago

During 2021, its first year of operations, Pave Construction provides services on account of $124,000. By the end of 2021, cash

7nadin3 [17]

Answer:

The adjusting entry for uncollectible accounts on December 31, 2021:

Debit Bad debts expense $9,600

Credit Allowance for uncollectible accounts $9,600

Explanation:

During 2021, Pave Construction provides services on account of $124,000. By the end of 2021, cash collections on these accounts total $92,000.

The balance of uncollected accounts on December 31, 2021 = $124,000 - $92,000 = $32,000

Pave estimates that 30% of the uncollected accounts will be uncollectible.

Estimated uncollectible = 30% x $32,000 = $9,600

The adjusting entry for uncollectible accounts on December 31, 2021:

Debit Bad debts expense $9,600

Credit Allowance for uncollectible accounts $9,600

8 0

3 years ago

Answer the following as True or False.

svp [43]

Answer:

1. False

2. True

3. True

Explanation:

In Accounting, declaring and paying a stock dividend only decreases Retained Earnings but not Stockholders' Equity on the balance sheet because it has no effect on the cash position of an organization.

5 0

2 years ago

Tony Matheson plans to graduate from college in May 2018 after spending four years earning a degree in sports and recreation man

valentinak56 [21]

Answer:

1. Proprietorship, Partnership and Corporation (details below)

2. Refer the answer with details below

3. Refer the answer with details below

Explanation:

1. Three primary forms of business organizations

Proprietorship

Having a single owner and hence all liabilities and assets belong to the proprietor and he is personally liable, lower tax

Partnership

Partnership of two or more, and therefore profits and liabilities are distributed and they are personally liable, lower tax than corporation

Corporation

Separate legal identity and hence owners are not personally liable, limited liability with stringent controls and regulated, higher tax rates.

Given the circumstances of the Great Adventures i.e. safety and sustainability, corporation would be recommended.

2. Activities

A) Financing Activities may include common stock, borrowings, and repayments.

B) Investing Activities may include purchase and sell of assets like land, building and machinery and investments

C) Operating Activities may include providing goods and services to the customers ans related operational cost to run the day to day business.

3. Specific Account Names

Assets may include Cash, Merchandise Inventory, Accounts Receivable, Property, Plant and Equipment

Liabilities may include Accounts Payable, Bank Overdraft, Notes Payable, accruals, loans.

Stockholders' equity may include common stock, retained earnings

Revenue may include Service revenue, other income

Expenses may include Salaries, Rent, Insurance advertising

8 0

3 years ago

Which is NOT a first degree misdemeanor for a licensee if found guilty? The publishing of false or misleading information The un

svet-max [94.6K]

Answer:

1. The unlawful collection of an advance fee for listing real property

2. Acting as a broker or sales associate without holding an active, current license.

Explanation:

Considering the available options, the ones that are NOT a first-degree misdemeanor for a licensee if found guilty are:

1. The unlawful collection of an advance fee for listing real property

2. Acting as a broker or sales associate without holding an active, current license.

This is because a first-degree misdemeanor is considered to be a result of "rental information violations."

And considering the available options, The publishing of false or misleading information and Failing to provide accurate and current rental information for a fee, falls within the misdemeanor charges.

3 0

3 years ago