All categories

3 years ago

Is income debit or credit

Business

2 answers:

Vanyuwa [196]3 years ago

5 0

Answer:

income is credit thats the amswer

lukranit [14]3 years ago

3 0

Explanation:

credit im pretty sure and debit is when you're taking away I believe

You might be interested in

These are selected 2022 transactions for Pronghorn Corporation:

Nataly [62]

Answer:

December 31, 2022, amortization expense of copyright

Dr Amortization expense 19,500

Cr Copyright 19,500

December 31, 2022, amortization expense of patent

Dr Amortization expense 10,000

Cr Patent 10,000

No journal entry required for the Goodwill since its useful life is indefinite

5 0

3 years ago

Which business function is concerned with delivering a product or service to customers?

Gwar [14]

Answer:

Production

Production departments or companies are the manufacturing branches of a business to produce products or delivery of services to customers

4 0

2 years ago

The following refers to units processed by a breakfast cereal maker in August. Compute the total equivalent units of production

masya89 [10]

Answer:

Total Equivalent Units Conversion 746,000

Explanation:

Breakfast Cereal Maker

Weighted-Average Inventory Method

Total Equivalent Units

Units Conversion Equivalent Units

Particulars %

Units completed 620,000 100 % 620,000

Add Ending WIP 180,000 70 % 126,000

Total Equivalent Units 746,000

The total Equivalent units are obtained by adding the percent of the units in the ending work in process inventory to the units completed and transferred out. This is the average weighted method of finding the equivalent units.

As only conversion is required we found out the conversion units only.

3 0

3 years ago

Suppose a monopolist produces output where total revenue is maximized. at that output, the price elasticity of demand for the mo

Ipatiy [6.2K]

Suppose a monopolist produces output where total revenue is maximized. At that output, the price elasticity of demand for the monopolist's output is equal to one.

What is Monopoly?

A monopoly is a market structure where one producer or seller holds a significant amount of influence within a certain market. Monopolies are forbidden in free-market economies as they limit customer alternatives and discourage competition. A company that enjoys monopoly status lacks replacements for its goods and faces little internal competition. Monopolies have the power to set prices and create barriers to entry for competing companies. Monopolies frequently benefit from economies of scale, the capacity to produce large volumes at reduced unit prices.

To know more about monopoly refer:

brainly.com/question/5992626

#SPJ4

3 0

2 years ago

On November 7, 2017, Mura Company borrows $160,000 cash by signing a 90-day, 8% note payable with a face value of $160,000. (Use

sergeinik [125]

Answer:

interst expense 1,920 debit

interest payable 1,920 credit

--to record year-end adjustment--

interest expense 1,280 debit

interest payable 1,920 debit

note payable 160,000 debit

cash 163,200 credit

--to record the honor of the note--

Explanation:

principal x rate x time = interest

principal 160,000

rate 8% annual

days from November 7th to December 31th: 54 days

160,000 x 0.08 x 54/360 = 1,920 interest expense

at maturity:

160,000 x 0.08 x 90/360 = 3,200

3,200 total interest less 1,920 accrued interest = 1,280

8 0

4 years ago