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2 years ago

Three primary ledgers used in double-entry bookkeeping?

Business

1 answer:

Galina-37 [17]2 years ago

7 0

Answer:

General ledger

The chart of accounts

Journals

Explanation:

The general ledger contains all the transactions carried out and registered by the company.

The chart of accounts is lists and codes all the accounts that are used by the by the company, e.g. cash might be account 101.

The journal entries are the individual entries recorded in the general ledger or any other specific ledger.

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Talbot Riding Stables provides stables, care for animals, and grounds for riding and showing horses. The account balances at the

Goshia [24]

Answer:

See answers below in the explanation

Explanation:

Journal Entries :

Journals

Date Account and Explanation Debit Credit

a Accounts receivable 210300

Service Revenue 210300

(Record earned revenue)

Cash 62300

Service Revenue* 62300

(Record earned revenue)

b cash 199100

accounts receivable** 199100

(Record collection Account)

*$41000+$20500=$62300

**$4400+$210300-$$15600=$199100

c Supplies 62900

Accounts Payable 62900

(record purchase of supplies on credit)

d Supplies 7400

Cash 7400

(record purchase of supplies

e Wages Payable 14200

Cash 14200

Record Payment of previous wages

Wages Expenses 112000

Cash 112000

(Record Payment to Employees)

f Income Tax payable 15100

cash 15100

(Record Payment of Income taxes

g Accounts Payable 73000

cash 73000

(record payment of account)

h Interest Expense 2700

Interest Payable 2700

Cash*** 5400

(Record Payment of Interest)

i No journal entry required

j Property Taxes Expense 17000

cash 17000

(Record payment of property taxes)

k Dividends 7200

Cash 7200

(Record Payment of dividends)

*** $60000*9%=$5400

6 0

3 years ago

Explain why the concept of an organization as an iceberg is important.

xxMikexx [17]

Answer:An organizational iceberg can sink a business if the leaders don't take the time to find out what's beneath the surface of their culture. But once you recognize the issues at the different levels of the organizational iceberg, you can appropriately address them and keep your business in safe waters.

Explanation:IM SMART

6 0

3 years ago

Brady industries has average variable costs of $1 and average total costs of $3 when it produces 500 units of output. the firm's

Karolina [17]

C. $1,000

$1 and average total costs of $3 when it produces 500 units of output. the firm's total fixed costs equal 1,000 dollars.

8 0

3 years ago

Fill in the missing amounts.

aleksandrvk [35]

Solution

Yoste Company Noone Company

Sales revenue($100,000 + $5,000) $90,000 $105,000

Sales returns and allowances ($6,000) ($5,000)

Net sales $84,000 $100,000

Cost of goods sold($100,000 - $40,000) ($58,000) ($60,000)

Gross profit($84,000 - $58,000) $26,000 $40,000

Operating expenses($40,000 - $17,000) ($14,380) ($23,000)

Net income($26,000 - $14,380) $11,620 $17,000

Net Income divide by Net Sales = Profit Margin Ratio
Gross Profit divide by Net Sales = Gross Profit Rate

Yoste Company :

Profit Margin Ratio = $11,620 divide by $84,000 = 13.83%

Gross Profit Rate = $26,000 divide by $84,000 = 30.95%

Noone Company:

Profit Margin Ratio = $17,000 divide by $100,000 = 17%

Gross Profit Rate = $40,000 divide by $100,000 = 40%

6 0

2 years ago

Which of the following typically involves the use of social networks to communicate and promote the benefits of products and ser

professor190 [17]

Answer:

b) social network advertising

Explanation:

Advertising on social networks is being highly targeted by marketers, as the use of social networks has been growing more and more, through it it is possible to carry out the communication and promotion of product and service in a cheap, fast and dynamic way that can generate engagement and value, retain and attract new customers, in addition to creating a stronger relationship between customer and company, which positions the company in the market in a positive and competitive way.

3 0

3 years ago