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3 years ago

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A debit: Multiple Choice Always decreases an account. Is the left-hand side of a T-account. Is the right-hand side of a T-accoun

t. Is not needed to record a transaction. Always increases an account.

1 answer:

In-s [12.5K]3 years ago

5 0

Answer:

ggggg

Explanation:

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The following note transactions occurred during the year for Towell Company: Nov. 10 Towell issued a 90-day, 9% note payable for

Pani-rosa [81]

Answer: See explanation

Explanation:

The general journal entries necessary to adjust the interest accounts at December 31 will be:

1. December 31:

Debit: Interest Expenses = $8,000 × 9% × 51/ 360 = $102

Credit: Interest payable = $102

(To accrue interest expenses for the note issued on November 10).

2. December 31:

Debit: Interest Expenses = $12,000 × 10% ×30/360 = $120

Credit: Interest payable = $120

(To accrue interest expenses for the note issued on December 1)

3. December 31:

Debit: Interest Expenses = $12,000 × 10% × 11/360 = $36.67

Credit: Interest payable = $36.67

(To accrue interest expenses for the note issued on December 20).

3 0

2 years ago

The Ziltech Consulting Group reported net income of $1,000,000 for its fiscal year ended December 31, 2021. In addition, during

grigory [225]

Answer:

$1,240,000

Explanation:

Given that,

Net income = $1,000,000

Pretax foreign currency translation adjustment = $400,000

Unrealized pretax loss on debt securities = $80,000

Effective tax rate = 25%

Total other comprehensive income:

= Foreign currency translation adjustment - Loss on debt securities

= [$400,000 × (1 - 25%)] - [$80,000 × (1 - 25%)]

= ($400,000 × 0.75) - ($80,000 × 0.75)

= $300,000 - $60,000

= $240,000

Comprehensive income:

= Net income + Total other comprehensive income

= $1,000,000 + $240,000

= $1,240,000

7 0

3 years ago

2-1.3 Which of the following statements about data storage is (are) true? A chart of accounts is a list of the numbers assigned

monitta

Answer:

A chart of accounts is a list of the numbers assigned to each general ledger account.
A subsidiary ledger contains detailed data for any general ledger account with many individual subaccounts.

Explanation:

A chart of accounts contains a list of all the numbers assigned to balance sheet and income statement accounts. The account numbers allow transaction data to be coded, classified, and entered into the proper accounts.

Subsidiary ledger s are used to record details information for a general ledger account that contains many subaccounts, like accounts receivable (at last 1 subaccount per client), inventory (at least 1 subaccount per product) and accounts payable (at least 1 subaccount per creditor).

4 0

3 years ago

Read 2 more answers

Season tickets for the Dingos are priced at $340 and include 17 home games. An equal amount of revenue is recognized after each

Vsevolod [243]

Answer:

Season tickets sold = $1,819,000 / $340

Season tickets sold = 5,350 tickets

Games played by the end of October = [$1,284,000 / ($1,819,000 / 17 games)]

Games played by the end of October = $1,284,000 / 107,000

Games played by the end of October = 12 games

Journal Entry to record initial sale of ticket

Accounts title Debit Credit

Cash $1,819,000

Unearned Ticket revenue $1,819,000

Journal Entry to record first home game revenue

Accounts title Debit Credit

Unearned Ticket revenue $107,000

Ticket revenue (earned) $107,000

6 0

2 years ago

According to the research literature on strategy and structure, the relationship between strategy and structure most strongly im

Marrrta [24]

Answer: Option B

Explanation: An organization and arrangement of interrelated elements can be defined as the structure of the primary subject. In simple words it can be described as many party of an element put together.

Strategy can be defined as the method or plan made to achieve future goals or objectives.

a. Strategy formulation cannot be done with out taking into consideration the structure. for example- a company with debt in its financial structure cannot take same risks as company with equity in its financial structure.

b. wrong strategy formulation can effect structure severely similarly structure of the organisation must be taken into consideration before

making strategy.

c. Structure of organisation is the primary consideration in making strategy thus its influence will be high.

Therefore right answer is statement B .

8 0

3 years ago