1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Semenov [28]
3 years ago
12

In your own words define the term accounting and its usage.

Business
1 answer:
Drupady [299]3 years ago
3 0

Answer:

<h3>Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing and reporting these transactions to oversight agencies, regulators and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position and cash flows. </h3><h3 />
You might be interested in
A successful scion will produce the product of the rootstock with greater quality.
yaroslaw [1]
I think it's B (False)!



I hope it helped you!
7 0
3 years ago
The following information is available for the Noir Detective Agency. After closing entries are posted, what will be the balance
omeli [17]

Answer: $230,400

Explanation:

The Retained earnings account is mainly used to record how much the company retains from its past and present net incomes after paying out dividends to shareholders.

Ending Balance = Beginning balance + Net income - dividends

= 294,000 + (-27,600) - 36,000

= $230,400

8 0
3 years ago
When Crossett Corporation was organized in January Year 1, it immediately issued 4,000 shares of $50 par, 6 percent, cumulative
hichkok12 [17]

Answer:

The correct answer is $12,000.

Explanation:

According to the scenario, the given data are as follows:

Shares issues On Jan.1 Year 1 = 4,000 shares

Par value of shares = $50 par

Cumulative preferred stock = 6%

So, we can calculate the dividend arrearage as of January 1, Year 2 by using following formula:

Dividend as of Jan.1, year 2 = Shares issues On Jan.1 Year 1 × Par value of shares × Cumulative preferred stock

= 4,000 × $50 × 6%

= $12,000

3 0
3 years ago
How do companies convince people that supplements work? to what extent do they work?
lesya692 [45]
Companies usually use strategies such as testimonies, and others such as overgeneralization (over-simplification) where they say a very broad claim that may not be completely true. Or, it may specifically leave out certain details in order to convince you.
7 0
3 years ago
Duncan foods orders 500 cans of crushed tomatoes every month to be consistent with recommendations made by the EOQ model. If the
Pie

Answer:

$125

Explanation:

average inventory = 500 / 2 = 250

annual holding costs = 250 x $0.50 = $125

also, if you want to determine the order cost:

EOQ = √[(2 x S x D) / H]

EOQ = 500

H = annual inventory holding cost per unit = $0.50

D = annual demand = 500 x 12 = 6,000

500 = √[(2 x S x 6,000) / 0.50]

500² = 12,000S / 0.50

250,000 x 0.5 = 12,000S

125,000 = 12,000S

S = 125,000 / 12,000 = $10.417 ≈ $10.42

annual ordering costs = $10.42 x 12 = $125.04

7 0
3 years ago
Other questions:
  • A stock index is valued at $800 and pays a continuous dividend at the rate of 3% per year. The 6-month futures contract on that
    14·1 answer
  • Which of the following is a primary cause of LO/TO accidents?
    10·2 answers
  • A setting of plainsong with two to four notes per syllable is called:
    6·1 answer
  • Mi Ola swimwear may occasionally make changes to their corporate or business-unit strategies. Identify the item below that would
    7·1 answer
  • Which one of the following accounts will have a credit balance?
    11·1 answer
  • Bryant Investments is putting out a new product. The product will pay out $32,000 in the first year, and after that the payouts
    8·1 answer
  • Please help me ...<br> thank you ..
    10·1 answer
  • 4. Which of the following is minced by very thin slicing?
    14·2 answers
  • Is gross profit or net profit more important to consider when you're deciding how successful and profitable a company is?
    15·1 answer
  • 10 POINTS PLEASE HELP ASAP
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!