All categories

2 years ago

Explain the meaning of personal account,real account and nominal account,give five examples each

Business

1 answer:

zysi [14]2 years ago

3 0

Answer:

<h3>An example of a Real Account is a Bank Account. A Personal account is a General ledger account connected to all persons like individuals, firms and associations. ... A Nominal account is a General ledger account pertaining to all income, expenses, losses and gains. An example of a Nominal Account is an Interest Account</h3>

You might be interested in

Red Hot Chili Peppers Co. had the following activity in its most recent year of operations.Classify the items as (1) operating—a

lora16 [44]

Answer:

a. Purchase of Equipment - (3) investing

b. Redemption of bonds payable - (4) financing

c. Sale of building - (3) investing

d. Depreciation - (1) operating—add to net income;

e. Exchange of equipment for furniture - (5) significant noncash investing and financing activities

f. Issuance of capital stock - (4) financing

g. Amortization of intangible assets - (1) operating—add to net income

h. Purchase of treasury stock - (4) financing

i. Issuance of bonds for land - (5) significant noncash investing and financing activities

Explanation:

The cash flow statement categories the company's transactions in a financial period into 3 groups; these are operating, investing and financing.

The net profit/loss, depreciation, changes in current assets (other than cash) and liabilities are considered as operating activities including income taxes.

The sale of assets, interest received, purchase of investments are examples of investing activities while the issuance of stocks, debt principal deduction (loan settlement), issuance of debt securities etc are examples of financing activities.

7 0

3 years ago

(tco 7) which access control method is characterized by the information owner being responsible for assigning privileges to appr

Tems11 [23]

<span>Web applications need access controls to allow users (with varying privileges) to use the application.They also need administrators to manage the applications access control rules and the granting of permissions or entitlements to users and other entities. Various access control design methodologies are available. To choose the most appropriate one, a risk assessment needs to be performed to identify threats and vulnerabilities specific to your application, so that the proper access control methodology is appropriate for your application.</span>

3 0

3 years ago

An activity variance is due to the difference between the level of activity used in the flexible budget and the actual level of

andrezito [222]

Answer:

a. True

Explanation:

The Activity variance is based on the difference in actual level of activity used in flexible budget and the level of activity accounted in the planning or master budget

8 0

3 years ago

1. Compute a single plantwide overhead rate for the year, assuming that the company assigns overhead based on 125,000 budgeted d

melamori03 [73]

Answer:

a. $17.44 per hour

b. $43,600 ; $104,640

Explanation:

The computation is shown below:

a. Single plantwide overhead rate equals to

= Total Overhead Amount ÷ Budgeted Direct Labor Hours

where,

Total overhead amount is

= $625,000 + $900,000 + $105,000 + $175,000 + $300,000 + $75,000

= $2,180,000

And, the budgeted direct labor hours is 125,000

So, the overhead rate is

= $2,180,000 ÷ 125,000

= $17.44 per hour

2. Now the overhead cost is

For Deluxe model

= 2,500 direct labor hours × $17.44 per hour

= $43,600

For basic model

= 6,000 direct labor hours × $17.44 per hour

= $104,640

7 0

3 years ago

What is Seth gordins overall message to marketers?

stealth61 [152]

Answer:

“making things better, by making better things”

Explanation:

hope it helps

mark me brainliest pls

7 0

2 years ago

Explain the meaning of personal account,real account and nominal account,give five examples each​

Explain the meaning of personal account,real account and nominal account,give five examples each