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2 years ago

A business should have separate accounts for recording revenue and expenses

Business

1 answer:

Dmitriy789 [7]2 years ago

3 0

Answer:

A business should have separate accounts for recording revenue and expenses. Expenses have the opposite effect from revenue on the capital account. Temporary capital accounts are extensions of the owner's capital account. ... Revenues increase owner's equity, and increases in revenues are recorded as debits.

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Gibson company began august with 200 units of product br having a unit cost of $8 in inventory. relevant information is listed a

In-s [12.5K]

ANSWER: To calculate the gross profit for the month of August, Gibson will have to find out the sales in his company. Gibson had a opening stock of 200 units of products valuing $8 per unit. The total value of the stock available at the opening of the month is $8 x 200 units = $1,600. If he uses the average cost method to calculate the inventory cost, he will need the opening stock and the production done in the month of August. This will give him the figure which will show his entire stock which were available for sale in the month.

Let's assume the entire stock produced in the month of August to be 'x', so the total stock available for sale was '$1,600+x'. This amount needs to be subtracted by the closing stock of the month to get the actual value of sales that has happened during the month of August. So, dividing the actual value of sales by the production cost of the sold number of units will give Gibson the gross profit for the month of August.

7 0

2 years ago

The quantity theory of money is a theory of how A) the money supply is determined. B) interest rates are determined. C) the nomi

meriva

Answer:

C) the nominal value of aggregate income is determined

Explanation:

The quantity theory of money states that nominal aggregate income is determined by money supply. It is assumed that money velocity is constant in the short run and so would not impact nominal aggregate income.

The quantity theory of money is obtained from the equation of exchange which is:

(Money supply × velocity ) = (price × agregrate output)

Dividing both sides by velocity gives,

Money supply = (1/velocity) × ( price × agregrate output)

It is assumed velocity is constant, therefore,

Money supply = k × (price × agregrate output)

I hope my answer helps.

All the best

5 0

2 years ago

I need help in this it’s personal finance

Lilit [14]

Answer:

it may personal finance

Explanation:

because it's is include personal site

7 0

2 years ago

Olga is the sales rep for ATV Communication Systems. She wants to bid on the RFP issued by Manitoba University for distance lear

Dmitriy789 [7]

Answer:

B. any experience with the product they wish to purchase

Explanation:

Since Manitoba University is completely new and that it do not have any information about the Communication system as of ATV.

As she wants to acquire the Manitoba bid she needs to provide thorough information and that the university is completely new, accordingly there is a clear demonstration required, for the service.

The university do not know the facts and is dealing in these things first time and because of that it is necessary.

Thus, correct option is statement B.

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3 years ago

The cost of notions is generally an insignificant part of a garment’s cost

Liono4ka [1.6K]

Hello There!

This is a "False Statement" <em>The cost of notions is generally not insignificant part of a garment’s cost</em>

4 0

2 years ago