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4 years ago

Which statement about subsidiary ledger is most accurate

2 answers:

4 0

The accounts receivable subsidiary ledger is a book of accounts that provides supporting detail for Accounts Receivable.

DochEvi [55]4 years ago

4 0

Answer: A subsidiary ledger account is a group of accounts in the sense that when these group of accounts are closely observed, the total combined balance equals that of a specific general ledger account.

Explanation:

The subsidiary ledger contains details of a specific general ledger. It acts as an intermediary set of account that connect to the general ledger. Examples of subsidiary (sub) ledger account are account payable ledger, account receivable ledger, fixed assets ledger, inventory ledgers and purchases ledger. Auditors can trace transactions from a subsidiary ledger account to a specific general ledger account and also to the financial statement to be assured that proper transactions of accounts are taken and recorded.

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Dakota Company had net sales (at retail) of $260,000.

disa [49]

Answer:

$35,860

Explanation:

The computation of the ending inventory using the retail inventory method is shown below

Particulars Cost Retail

Opening Inventory(A) $63,800 $128,400

Purchases(B) $115,060 $196,800

Goods available

C=(A-B) $178,860 $325,200

Cost ratio

($178,860 ÷ $325,200 × 100) 55%

Sales at retail (D) $260,000

End, Inventory at Retail $65,200

($325,200 - $260,000)

End, Inventory at Cost $35,860

($65,200 × 55%)

8 0

3 years ago

Mattel teamed with coca-cola to market soda fountain sweetheart barbie. this is an example of ____.

Svet_ta [14]

Mattel teamed with coca-cola to market soda fountain sweetheart barbie. this is an example of cobranding. Co-branding is a marketing approach in which numerous brand names are used on the same product or service as part of a strategic collaboration.

Co-branding (or "cobranding") refers to various different sorts of branding collaborations that often involve the brands of at least two companies. The use of two or more brands to name a new product is known as co branding. The ingredient brands collaborate to achieve their goals. The entire synchronisation between the brand pair and the new product has to be kept in mind.

To learn more about Co-branding, click here.

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1 year ago

The balance sheet of Starsky Company at December 31, 2019, includes the following. Notes receivable $36,000 Accounts receivable

Arturiano [62]

Answer:

Journal Entry

Explanation:

1. Cash Dr, $136,800

Sales Discount Dr, $1,200

($60,000 × 2%)

To Accounts receivable $138,000

(Being cash is recorded)

2. Accounts receivable Dr, $5,300

To Allowance for doubtful accounts $5,300

(Being written off is recorded)

Cash Dr, $5,300

Accounts receivable $5,300

(Being payment received is recorded)

3. Allowance for doubtful accounts Dr, $17,500

To Accounts receivable $17,500

(Being written off is recorded)

4. Bad Debts expense Dr, $14,900

=$20,000 - ($17,300 + $5,300 - $17,500)

To Allowance for doubtful accounts $14,900

(Being bad debt expenses is recorded)

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3 years ago

Why are american firms moving manufacturing jobs overseas?

strojnjashka [21]

Cheap labor force...American businesses can save a substantial amount if they outsource.

5 0

3 years ago

National income and product data are generally revised. what effects would the following revisions have on consumption, investme

Flauer [41]

The effects are:

1) There will be a $24 million boost in GDP and consumption.

2) Net exports will decrease by $29 000 while consumption rises by $29 000. GDP stays the same.

3) The GDP and investment will both rise by $12.43 million.

2) Net exports will fall by $23.12 million, while investment rises by that same amount. GDP stays the same.

Complete Question: National income and product data are generally revised. What effects would the following revisions have on consumption, investment, government purchases, net exports, and GDP?

1.) It is discovered that consumers bought $24 million more laptops than previously thought. The computers were manufactured in California.

2.) It is discovered that consumers bought $29 thousand more laptops than previously thought. The computers were manufactured in China.

3.) It is discovered that businesses bought $12.43 million more laptops than previously thought. The computers were manufactured in California.

4.) It is discovered that businesses bought $23.12 million in more laptops than previously thought. The computers were manufactured in China.

National Income: The whole of a country's current production income, comprising interest, rental income, business after-tax profits, and employee remuneration, is known as National Income.

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8 0

2 years ago