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3 years ago

Which of the following indicates at least two accounts are affected by a transaction?

Business

1 answer:

makvit [3.9K]3 years ago

3 0

Answer:

Double-entry system

Explanation:

The double-entry system is a book-keeping technique that records all transactions in at least two accounts. No upper boundary is set for the number of accounts that a transaction can be recorded. In double-entry accounting, each account has two columns, debit on the left and credit on the right side.

The concept of a double-entry accounting system is based on the fact that any transaction increases or decreases one side of the accounting equations and simultaneously decreases or increases the opposite side. The debit side must match the credit side for the account to balance.

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The general term used to indicate delaying the recognition of an expense already paid or of a revenue already received is

slavikrds [6]

deferral is the answer.

A deferral in accrual accounting is an account on which income or expenses are recorded at a later date. Pensions, surcharges, taxes, income, etc. Accruals and deferrals can be viewed as either assets or liabilities, depending on the type of accrual. See also boundaries.

deferral means money paid or received before the product or service is offered. Here is an example of postponement: Insurance fee. Subscription-based services (newspapers, magazines, TV shows, etc.) Prepaid rental.

deferral is a payment made in one accounting period but not reported until the next accounting period. For example, if you made a payment at the end of the year but did not report until the new year, this will be postponed.

Learn more about deferral here:brainly.com/question/16967814

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5 0

2 years ago

On September 1, 2021, American Metals Distribution (AMD) has an inventory of 10,000 pounds of copper that it plans to sell on th

Anon25 [30]

Answer and Explanation:

a. The Journal entry is shown below:-

1. Hedge charges Dr, $150

To Cash Account $150

(Being bank charges is recorded)

2. Hedge Instrument - Financial Asset Dr, $600

To Profit and Loss A/c $600

(Being financial assets is recorded)

3. Profit and Loss A/c Dr, $600

To Inventory Account - Copper $600

(Being profit and loss account is recorded)

4. Bank A/c Dr, $22,400

To Sales $22,400

(Being bank account is recorded)

2. The computation of the gross margin and locked with the put option and actual reported gross margin is shown below:-

Particulars Rate Pounds Amount Gross Margin Gross Margin

Cost Price $2.15 10,000 $21,500

Strike Price $2.3 10,000 $23,000 $1,500 6.98%

Cost after hedge

loss of $0.6 2.09 10,000 $20,900

Selling Rate $2.24 10,000 $22,400 $1,500 7.18%

Gross margin locked with the put option: 6.98%

Actual reported gross margin: 7.18%

The two amounts are different, since the carrying value of the inventory has changed and the same has been reduced. As a result the total gross margin of 1,500 yielded another percentage as the base value (inventory carrying value) was adjusted.

5 0

3 years ago

Bill currently uses his entire budget to purchase 5 cans of Pepsi and 3 hamburgers per week. The price of Pepsi is $1 per can,

FinnZ [79.3K]

Answer:

Option (B) is correct.

Explanation:

The utility maximization point for a consumer is as follows:

$\frac{MU_x}{P_x}=\frac{MU_y}{P_y}$

It is given that,

price of Pepsi(x) = $1 per can

price of a hamburger(y) = $2

Marginal utility from Pepsi = 4

Marginal utility from hamburgers = 6

Hence,

$\frac{4}{1}>\frac{6}{2}$

4 > 3

Therefore, it can be seen that the consumer's utility is not maximized at this point.

Law of diminishing marginal utility states that as the consumer consumes more and more quantity of goods then as a result the utility obtained from the consumption goes on diminishing.

So, there is a need to increase the quantity of Pepsi consumed and reducing the quantity of hamburgers consumed.

6 0

3 years ago

Explain what type of business would fall under a partnership ???

scZoUnD [109]

here you go

Explanation:

A partnership is a business shared by multiple owners. It's not a legal business entity, and it doesn't have to be registered with the state. Basically, if you decide to go into business with another person without filing any state paperwork, you're automatically in a partnership

4 0

3 years ago

Financial statements with data for two or more successive accounting periods placed in columns side by side, sometimes with chan

RideAnS [48]

The above is referred as Comparative statements. A comparative statement is an archive that contrasts a specific budgetary proclamation and earlier period articulations or with the same monetary report produced by another organization. Examiner and business supervisors utilize the wage explanation, monetary record and income proclamation for relative purposes.

6 0

3 years ago