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tiny-mole [99]
3 years ago
7

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.

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3 years ago
Mundes Corporation uses the weighted-average method in its process costing system. The beginning work in process inventory in it
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The cost of units transferred out during the month was:$ 99980

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Mundes Corporation

Current Costs Added

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Materials =8700 * $ 4.7= $ 40890

Conversion= 8700* $5.70= $ 49590

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7 0
3 years ago
Real per capita GDP in Singapore in 1960 was about $450, but it doubled to about $900.00 by 1977. a. What was the average annual
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Answer:

4.16%

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to calculate Singapore's economic growth rate we can use the future value formula (we could also use the rule of 72 but it is not very exact):

future value = present value x (1 + r) ⁿ

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  • present value = 450
  • n = 17
  • r = ?

900 = 450 (1 + r)¹⁷

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Answer: Sí

Explanation: Sí

5 0
3 years ago
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