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
Mariulka [41]
2 years ago
15

Which of the following statements is correct? Multiple Choice A transaction that is properly recorded in the cash payments journ

al will always include the recording of an amount in the Cash Debit column. The entry to record the payment of an invoice within the cash discount period would include a debit to the Purchases Discounts account. The entry to record a cash purchase of merchandise would include a debit to Purchases and a credit to Cash. Purchase discounts is a contra revenue account.
Business
1 answer:
Arturiano [62]2 years ago
4 0
Yes choice a is right
You might be interested in
When there is no beginning Finished Goods Inventory and all the goods that are produced are sold, the operating income ________.
natali 33 [55]

Answer:

C) will be the same for both absorption costing and variable costing

Explanation:

If the beginning and ending balance for Finished Goods Inventory is 0, that means that all the absorption costs have been assigned and all the fixed costs (for variable costing) have been assigned also. So whatever costing method you choose the valuation should be the same.

4 0
3 years ago
When starting a new job, the form you complete to determine how much tax to withhold from your paycheck is called the _______.
maksim [4K]
Letter D. W-4 is the answer to your question.
5 0
3 years ago
Read 2 more answers
Which of the following types of insurance allows individuals to keep a former employer's group coverage for a set period of time
nordsb [41]

Answer:

group health insurance

6 0
3 years ago
Golden Eagle Company prepares monthly financial statements for its bank. The November 30 and December 31 adjusted trial balances
Maru [420]

Answer:

                                              30-Nov                 31-Dec

                                       debit      credit        debit      credit

supplies                       $2,000                    $3,500

prepaid Insurance      $8,000                    $6,000

salaries payable                           $11,000                  $16,000

unearned revenue                       $3,000                    $1,500

1. Purchases of supplies in December total $4,500.

Dr Supplies expense 3,000

    Cr Supplies 3,000

beginning balance = $2,000 + $4,500 = $6,500

supplies expense = $6,500 - ending balance

2. No insurance payments are made in December.

Dr Insurance expense 2,000

    Cr Prepaid insurance 2,000

Insurance expense = November 30's balance - December 31's balance

3. $11,000 is paid to employees during December for November salaries.

Dr Salaries expense 16,000

    Cr Salaries payable 16,000

The beginning balance of salaries payable = $11,000, then it was paid (balance = $0), so any ending balance represents wages expense.

4. On November 1, a tenant pays Golden Eagle $4,500 in advance rent for the period November through January.

Dr Unearned revenue 1,500

    Cr Rental revenue 1,500

Monthly rent revenue = $4,500 / 3 = $1,500

unearned revenue balance Nov. 30 = $3,000

unearned revenue balance Dec. 31 = $1,500

rental revenue = Nov. 30's balance - Dec. 31's balance

8 0
3 years ago
One disadvantage of renting a home is , which directly affect what the renters can and can’t do in and around the house. On the
slava [35]

disadvantage is that the land lord can raise the rent easily while you can not do anything about it.Lower insurance, When renting a home, we would most likely restricted to make any modification that we like to the home. (such as we are not allowed to change the color of the paint)

On the insurance front, renting a home has cheaper insurance since we are only paying for the protection of the personal goods that we keep on the home. We do not have to pay for property tax since the home is not belong to us.

But a benefit is that there is no mortgage.

7 0
3 years ago
Other questions:
  • The probability of getting a 5 when a die is tossed is what type of probability?
    11·2 answers
  • Limited decision making is used when purchasing frequently bought, low-cost items needing very little decision effort.
    11·1 answer
  • Tulip Company purchased equipment for​ $58,000 on January​ 1, 2017. On December​ 31, 2019, the equipment was sold for​ $23,000.
    8·1 answer
  • A company builds a new plant and finances its construction by issuing stock. Which ratio is least likely to be affected, all els
    10·1 answer
  • A hamburger stand near the local mall sells hamburgers for $3.99, drinks for $1.99, and fries for $1.49, while a gourmet restaur
    8·2 answers
  • Denver Systems has total assets of $1,000,000; common equity of $400,000; a gross profit of $800,000; total operating expenses o
    6·1 answer
  • Difine the following <br>1 operetional cost <br>2 social cost and <br>3 complementary goods​
    14·1 answer
  • 10. A person who selects, purchases, uses, or disposes of goods or services is
    12·1 answer
  • 7. Constant growth rates One of the most important components of stock valuation is a firm’s estimated growth rate. Financial st
    9·1 answer
  • Capitalization of interest is adding accrued
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!