All categories

3 years ago

Which one of the following groups of accounts only have debit balances

Business

1 answer:

scoray [572]3 years ago

4 0

Answer: b. Sales Returns, Wages, Machinery, Discount Allowed

Explanation:

Sales returns reduce the sales made. Sales are put on the credit side so transactions that will reduce sales such as sales returns would have to go on the debit side.

Wages are an expense and expenses are debited to show they are increasing so they have a debit balance.

Machinery is an asset and assets have debit balances.

Discount allowed reduces the sales balance and as mentioned above, transactions that reduce sales go on the debit side so this has a debit balance as well.

You might be interested in

Meeting conference everyone meet.

svet-max [94.6K]

Answer:

why what's happening?

Explanation:

7 0

3 years ago

Read 2 more answers

What do you think about the value of trend watching for supporting marketing decision-making? Would it be relevant in your busin

Katena32 [7]

Answer: TREND WATCHING HELPS MARKETERS TO PREPARE AND PREVENT THE RECURRENCE OF NEGATIVE IMPACTS ON THE BUSINESS.

TREND WATCHING IS RELEVANT IN BUSINESS.

TO PREVENT AND PREPARE FOR POSSIBLE MARKET RISKS.

Explanation:Trend watch is a process through which an analysis is carried out to understand the existing situations in a business Environment and make adequate preparation or take steps aimed at controlling any possible risk .

Trend watch is very relevant as it prevents a business entity from losses and it helps Businesses to prepare for and control possible risks,most Marketing Organisations usually do trend watching in order to improve overall performance and profits.

6 0

3 years ago

Kiara filled out a life insurance application and was given a policy illustration that showed future premiums being paid out of

maria [59]

Answer: The illustration must show that the policy owner (Kiara)<em> </em><em>may need to resume paying the premium payments depending on actual results. </em>

The policy owner will need to determine if this is the right policy for her and her family. The illustration should be truthful about how the policy will perform for the buyers lifetime. The illustration should also show the financial projections for each year so the buyer can determine if the plan fits their budget.

7 0

4 years ago

A company wants to identify which of two production methods has the smaller completion time. One sample of workers is randomly s

Marina CMI [18]

Answer:

A. Matched Samples

Explanation:

Matched samples is a situation whereby participants are paired, sharing every other characteristics except the one under investigation. The idea behind this is to have more control over unwanted variables. In this case, the study is measuring two production methods and in order to control the unwanted variable and leave only the characteristic or variable under investigation which is the production method, the two method is carried out by the same workers each.

6 0

4 years ago

After a computer failure, you are trying to reconstruct some financial results for the year just ended. While you know that back

Naily [24]

Answer: The answers are given below

Explanation:

a. Find the finished goods inventory, January 1.

The cost of good sold will be:

= (cost of good manufactured + finished good inventory beginning) - finished good inventory ending

$21,900 = $21,940 + finished good inventory beginning - $3500

Finished good inventory beginning will now be:

=$21900 - $21,040 + $3500

Finished good inventory January 1 = $4,360

b. Find the direct materials used for the year.

The total manufacturing cost will be:

= direct material + direct labour + manufacturing overhead

$19,460 = direct material + $3160 + $5710

Direct material = $19,460 - $3160 - $5710

Direct material = $10,590

c. Find the Sales revenue.

Gross margin will be :

= Sales revenue - cost of good sold

Let the sales revenue be y

Therefore,

37% of y = y - $21,900

0.37y = y - $21,900

y - 0.37y = $21,900

0.63y = $21,900

y = $21,900/0.63

y = $34,761.9

y = $34,762 approximately

The sales revenue is $34,762

7 0

4 years ago