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sp2606 [1]
3 years ago
14

Type the correct answer in the box. Spell all words correctly. In which book of accounts do businesses record their daily financ

ial transactions? Businesses record their daily financial transactions in a _____, also known as the businessperson's diary.
Business
1 answer:
Marysya12 [62]3 years ago
6 0

Answer:

Journal.

Explanation:

Businesses record their daily financial transactions in a journal, also known as the businessperson's diary.

A journal entry involves the process of keeping the records of business transactions made by an organization.

The journal entry is used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.

In Accounting, most businesses use a double-entry account system and as such, the total amount debited must equal the total amount credited in a journal entry.

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Why do we need an organizational structure?
san4es73 [151]

Structure will give employees more clarity, help manage expectations, enable better decision-making and provide consistency.

7 0
3 years ago
In the context of the 5S principles, _____ means to keep a process going through training, communication, and organizational str
alina1380 [7]

In the context of the 5S principles, <u>sustain </u>means to keep a process going through training, communication, and organizational structures.

<h3>What is 5S principles? </h3>

5s principles can be defined as the principle that help to show the appropriate way a work place or work environment should be or should be arranges .

The 5S principle are:

  • Sort
  • Set in order
  • Shine  
  • Standardize
  • Sustain

Therefore In the context of the 5S principles, <u>sustain </u>means to keep a process going through training, communication, and organizational structures.

Learn more about 5s principles here:brainly.com/question/10001029

#SPJ1

5 0
2 years ago
or each of the following situations, indicate the liability amount, if any, that is reported on the balance sheet of Bloomington
ra1l [238]

Answer:

Bloomington Inc.

Indication of Liability Amount on the Balance Sheet at December 31, 2019:

Situation            Liability Amount

a.                        $220,000

b.                        $0

c.                        $3,100

d.                        $0

Explanation:

For Bloomington to recognize a liability or record it in its financial statements, the probability that an outflow of economic resources will occur in the future must be established.  Bloomington must also be able to reliably measure the amount of the liability.  These two conditions are satisfied in situations A and C.  For situation B, the contract is not in force as at December 31, 2019, since the drill press will be purchased in January, 2020.  Lastly, for situation D, the amount of the profit-sharing bonus cannot be reasonably and reliably ascertained because the amount to apply the 5% is not clear or known.

8 0
3 years ago
Anya needs $500 to help pay for a trip to Europe. She calls her parents and asks if they will give her $5,000 for her trip, and
luda_lava [24]

Answer:

The answer is: reciprocal concessions technique

Explanation:

Reciprocal concessions (or Door in the face) technique is used by an individual (Anya) that tries to persuade or convince someone else (parent) to comply with a large request ($5,000) knowing that their request will probably be rejected. Then they make a second, more reasonable, request that the other party is more likely to accept or agree ($500).

6 0
4 years ago
Mystic Laboratories reported total assets of $11,200,000 and noncurrent assets of $1,480,000. The company also reported a curren
Anastasy [175]

Answer:

$6,480,000

Explanation:

The computation of the amount of the current liabilities is shown below:

Total assets of $11,200,000

Less: Noncurrent assets $1,480,000

Current Assets = $9,720,000

Now as we know that

Current ratio  = Current Assets ÷ Current Liabilities

Current Liabilites is

= $9,720,000 ÷ 1.5

= $6,480,000

hence, the current liabilities is $6,480,000

3 0
4 years ago
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