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3 years ago

Capital and drawings are classified as

Business

1 answer:

VMariaS [17]3 years ago

6 0

Answer:

Since the capital account and owner's equity accounts are expected to have credit balances, the drawing account (having a debit balance) is considered to be a contra account. In addition, the drawing account is a temporary account since its balance is closed to the capital account at the end of each accounting year.

Explanation:

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Match each of the following contract principles to the statement that best fits it: A. bargained-for exchange of value to the pa

AnnZ [28]

Answer:D.both parties to the contract agree on the contract terms

A.bargained-for exchange of value to the parties

C.parties' negotiated understanding of terms and intent that lead to the contract

B. the subject matter of the contract does not violate law or public policy

Explanation:D A C B 1.consideration

D A C B 2.mutal Acceptance

D A C B 3. Legality

D A C B 4. Agreement

8 0

3 years ago

In August, one of the processing departments at Tsuzuki Corporation had beginning work in process inventory of $24,600 and endin

oksian1 [2.3K]

Answer:

Cost accounted for= $300,000

Explanation:

Giving the following information:

beginning work in process inventory of $24,600

ending work in process inventory of $13,600.

During the month, $289,000 of costs were added to production.

The cost to be accounted for is the cost incurred during production and send to finished goods inventory. Therefore, we need to use the following formula:

Cost of the period= beginning inventory + cost added - ending inventory

Cost of the period= 24,600 + 289,000 - 13,600= $300,000

3 0

3 years ago

What is the term used to describe a temporary low supply of a good or service?.

Leviafan [203]

Answer:

That would be a shortage.

3 0

3 years ago

A special tax was levied by Downtown City to retire and pay interest on general obligation bonds that were issued to finance the

jonny [76]

Answer:

C. Debt Service Fund.

Explanation:

Dept service funds can be described as monies or reserves which are been used to pay for capitals, interest and certain dept that have accrued by the company and it can cover for any other form of dept owed by the company.

It's existence is put in place to reduce the risk of a debt security for future investors. This can be paid out monthly mid-monthly, quarterly or possibly yearly.

This why the tax on general obligation bonds that has been put upon Downtown city to finance the hall has it receipts in place at the dept service fund office.

5 0

3 years ago

15. The Eller Mutual Fund had a Net Asset Value (NAV) per share of $17.50 on January 1, 2019. On December 31, 2019 the fund’s NA

klio [65]

Answer:

The rate of return is 21.26%

Explanation:

Before calculating the return in percentage terms, it would be more appropriate to start with computing the return on the mutual fund in dollars ' terms.

Return in dollars terms;

Net Asset Value on 31 December 2019 $19.47

less

Net Asset Value on 1 January 2019 ($17.50)

return on NAV $1.97

Add:

Income distributions $0.75

Capital gains distributions $1.00

Total return on mutual fund $3.72

Rate of return=total return mutual fund/Opening net asset value

rate of return =$3.72/$17.50

=21.26%

7 0

3 years ago

Capital and drawings are classified as ​

Capital and drawings are classified as