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3 years ago

QUESTION 1

Business

1 answer:

babunello [35]3 years ago

5 0

1.) A
2.) True
3.) False
4.) C
5.) C
6.) True
7.) True
8.) C
9.) True
10.) True

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Accrued sales salaries amount to $1,700. Prepaid selling expenses of $3,000 have expired. A physical count of year-end merchandi

Korolek [52]

Answer:

The answers are given below;

Explanation:

a. Adjusting Entries

Salaries Expense Dr.$1,700

Salaries Payable Cr.$1,700

Selling Expenses Dr.$3,000

Prepaid Selling Expenses Cr.$3,000

Inventory Dr.$28,700

Cost of Goods Sold Cr.$28,700

b. Income summary Account (1,700+3,000+28,700) Dr.$33,400

Salaries Expense Cr.$1,700

Selling Expense Cr.$3,000

Cost of Goods Sold Cr.$28,700

Capital Dr.$33,400

Income Summary Account Cr.$33,400

4 0

3 years ago

Read 2 more answers

In recent years, industries with high four- and eight-firm concentration ratios include cars, cereal breakfast foods, and farm m

Crank

Answer: True

Explanation:

The Four-Firm Concentration Ratio simply measures aggregate market share of the four biggest firms that are in a particular industry while the Eight-Firm Concentration Ratio measures that of the eight biggest firms.

It is true that in recent years, industries with high four- and eight-firm concentration ratios include cars, cereal breakfast foods, and farm machinery.

7 0

3 years ago

Research shows that legal action is taken against fraud perpetrators in: Group of answer choices Almost all fraud cases. More th

vodomira [7]

Answer:

Less than half of fraud cases.

Explanation: Fraud is the intentional use of false or misleading information in an attempt to illegally deprive another person or entity of money, property, or legal rights. In order to constitute fraud, the party making the false statement must know or believe that it is untrue or incorrect and intended to deceive the other party.

5 0

3 years ago

December 31, Year 1, the Loudoun Corporation estimated that 3% of its credit sales of $112,500 would be uncollectible. Loudoun u

allochka39001 [22]

Answer:

A. NA = NA + NA NA -NA = NA NA NA

Explanation:

As Year 2 the customer paid Loudoun the $1,050,which was written off On April 4, Year 1.

Therefore, the following journal entries to record the transaction.

Accounts receivable debit $1,050

Allowance for doubtful accounts credit $1,050

To record reinstatement of accounts receivable.

Cash debit $1,050

Accounts receivable credit $1,050

As one asset account is increase and another asset account is decreased.

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3 years ago

________________ represent a series of thick and thin vertical linesreadable by computerized optical scanners that represent num

amm1812

Answer: Bar codes

Explanation:

A barcode is a way of representing data in a machine-readable and visual form. In the past, barcodes illustrated data by placing the parallel lines at intervals and altering the widths. Nowadays, barcodes known as one-dimensional (1D) or linear are scanned by optical scanners. Also, the two-dimensional (2D) barcodes were manufactured using dots, rectangles, hexagons and some geometric patterns, known as matrix barcodes. Barcodes are used for the tracking of products.

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3 years ago