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3 years ago

For each of the following accounts, indicate the effect of a debit or credit on the account and the normal balance.

Business

1 answer:

Hunter-Best [27]3 years ago

6 0

Answer:

Debit effect Credit effect Normal balance

a. Bonds payable Decrease Increase Credit

b. Unearned service revenue Decrease Increase Credit

c. Depreciation expense Increase Decrease Debit

d. Common stock Decrease Increase Credit

e. Building Increase Decrease Debit

f. Rent revenue Decrease Increase Credit

All assets, expenses increase with debits and decreases with credit and have a debit normal balance. All liabilities, revenue accounts and equity accounts (except dividends) have credit.

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What economic theory did Ronald Reagan base his policies upon after becoming President in 1980?

m_a_m_a [10]

<span>Supply-side economics is the economic theory that Ronald Reagan base his policies upon after becoming President in 1980.Supply side economics theory is about being focus on the capital or supply in order to grow the economy. It is also called as macroeconomics theory.</span>

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3 years ago

. JetGreen Cleaners makes 80% of its sales on credit. Experience shows that 25% of the credit customers pay in the month of sale

anastassius [24]

Answer:

July = $237,600

August = $238,400

Explanation:

Note that credit sales account for only 80% of total sales, the remainder should be considered as cash receipts in the month of sale. Cash receipts for July are 20% of July total sales, plus 25% of July credit sales, plus 55% of June credit sales, and 20% of May credit sales:

$J = 0.20*280,000+0.8*(0.25*280,000+0.55*220,000+0.20*180,000)\\J= \$237,600$

Cash receipts for August are 20% of August total sales, plus 25% of August credit sales, plus 55% of July credit sales, and 20% of June credit sales:

$A = 0.20*200,000+0.8*(0.25*200,000+0.55*280,000+0.20*220,000)\\A= \$238,400$

Budgeted cash receipts are:

July = $237,600

August = $238,400

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3 years ago

In what sense is test marketing a special type of experiment? What are its main objectives?

s344n2d4d5 [400]

The objective of test marketing is to find the limitations and strengths of the product based on customers' reactions. It also helps us to structure the marketing strategy of that product. A test marketing campaign aims to predict the revenue model (sales, profit, pricing).

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2 years ago

Which of the following statements about depreciation is correct? When depreciation expense is incurred, cash balances are reduce

Ksju [112]

Answer:

The correct answer is letter "B": Depreciation reduces the book value of assets .

Explanation:

Depreciation shows how much and the value of the assets was used up. This also aims to balance an asset's cost to the revenue that the asset has helped the business gain. Used as an income tax deduction, depreciation calculations offer businesses an annual allowance for the use and deterioration of tangible (physical) assets.

<em>Depreciation reduces the book value of assets because, after the depreciation calculation is done, the amount computed decreases the current value of the asset it represents.</em>

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3 years ago

which of the following items is qualitative?-cost of a new machine-depreciation of existing machine-book value of the existing m

trapecia [35]

Answer: Statement D

Explanation: Qualitative characteristics are those characteristics the values of which cannot be calculated appropriately and the one that cannot be recorded in the books as they do not have any quantitative value.

In the given problem cost of machine at which it is purchased is its value, Depreciation is the value of original cost which has been used and amount at which the machine used can be sold is its value.

Hence among all the options Option D shows qualitative characteristics.

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3 years ago