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miv72 [106K]
4 years ago
15

To balance your checkbook, you should _____. add the withdrawals and subtract the deposits enter checkmarks for transactions tha

t appear on your statement subtract the withdrawals and add the deposits call the bank to find out what your balance is and write this amount in your check register
Business
2 answers:
Scorpion4ik [409]4 years ago
5 0

Answer:

The correct answer is the option C: subtract the withdrawls and add the deposits.

Explanation:

On one hand, a <em>checkbook</em> is the name given to refer to a small book whose main characteristic is that it contains preprinted paper instruments issued to the owners of checking accounts at a bank and whose main purpose is to be used as a method of paying, as a bill of exchange for goods and services.

On the other hand, the action of <em>balance a checkbook</em> involves the basic actions of <em>addition and subtraction  to keep it balance</em>. Therefore that the correct answer is the option C, because balancing it refers that the person has recorded all additions, that are the deposits, made to his account and subtractions, that are the withdrawals, as well.

EleoNora [17]4 years ago
3 0
Subtract the withdrawals and add the deposits
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The transactions of Spade Company appear below.
ICE Princess25 [194]

Answer:

Required 1 : General journal entries

A.

Cash $100,750 (debit)

Capital ; K. Spade $100,750 (credit)

B.

Office Equipment  $10,050 (debit)

Trade Payable  $10,050 (credit)

C.

Trade Payable  $10,050 (debit)

Cash $10,050 (credit)

D.

Trade Receivable $2,700 (debit)

Fees Earned $2,700 (credit)

E.

Rent Expense $1,225 (debit)

Cash $1,225 (credit)

F.

Cash $1,125 (debit)

Trade Receivable $1,125 (credit)

Required 2 : Posting Journal Entries to T - Accounts

Cash Account

<u>Debit</u>

Capital ; K. Spade   $100,750

Trade Receivable         $1,125

Totals                        $101,875

<u>Credit</u>

Trade Payable          $10,050

Rent Expense              $1,225

Balance c/d             $90,600

Totals                        $101,875

Capital Account

<u>Debit</u>

Balance c/d        $100,750

Totals                  $100,750

<u>Credit</u>

Cash                    $100,750

Totals                  $100,750  

Office Equipment Account

<u>Debit</u>

Trade Payable        $10,050

Totals                      $10,050

<u>Credit</u>

Balance c/d             $10,050

Totals                      $10,050

Trade Payable Account

<u>Debit</u>

Cash                             $10,050

Totals                           $10,050

<u>Credit</u>

Office Equipment        $10,050

Totals                           $10,050

Trade Receivable Account

<u>Debit</u>

Fees Earned     $2,700

Totals                $2,700

<u>Credit</u>

Cash                   $1,125

Balance c/d       $1,575

Totals                $2,700

Rent Expense Account

<u>Debit</u>

Cash                                   $1,225

Totals                                 $1,225

<u>Credit</u>

Profit and Loss Account   $1,225

Totals                                 $1,225

Fees Earned Account

<u>Debit</u>

Trading Account  $2,700

Totals                    $2,700

<u>Credit</u>

Trade Receivable $2,700

Totals                    $2,700

Explanation:

All transaction are first record in the journal. Be careful to use the account titles provided by the question.

The Posting to general account is the second stage in accounting. Here account balances to be transferred into the trial balance are established.

8 0
3 years ago
Exxon Mobil enters into a pact with Gazprom, the world's largest natural gas extractor, to set up a processing unit in Baku, Aze
pishuonlain [190]

Answer:

4. to gain access to low-cost inputs of production

Explanation:

The reason for Exxon Mobil to opt for this strategic alliance, Whereas the remaining ones are not relevant in this context may be because it can help to gain access to low-cost inputs of production.

8 0
3 years ago
Problems and Applications Q8 There are four consumers willing to pay the following amounts for haircuts, and there are four hair
romanna [79]

Answer:

For efficiency, <u>3 haircuts</u> should be given.

Only three haircuts should be given because only 3 firms have costs that are lower than the customer whose hair they are to cut.

Firm A's cost is less than Kyoto's willingness to pay so Firm A can cut.

Firm B's cost is more than Rina's willingness to pay so Firm B should not cut.

Firm C's cost is less than Jacques's willingness to pay so Firm C can cut.

Firm D's cost is less than Musashi's willingness to pay so Firm D can cut.

That makes only 3 firms that can cut therefore 3 haircuts.

The business that should cut as shown above are:

  • Firm A
  • Firm C
  • Firm D.

8 0
3 years ago
TRUE or FALSE: A credit card company can't charge you a higher interest rate just because you're a college student and have no c
Korvikt [17]

Answer: False

Explanation:

Even if you have a reliable income but you have no credit history, you will be seen as a something of a risk because you don’t yet have a track record.

Therefore a credit card company will charge higher interest rate due to the potential risk because of lack of track record .

5 0
3 years ago
What sets focused (or market niche) strategies apart from low-cost leadership and broad differentiation strategies is
devlian [24]

Their concentrated attention on serving the needs of buyers in a narrow piece of the overall market

Answer: Option B.

<u>Explanation:</u>

There are certain strategies which the producer might keep in mind so that they can maintain a position in the market when there is competition at such a high level.

Some of such policies and strategies are the low cost strategy where the focus is on reducing the price of the production of the goods. The producer should also focus on keeping a track of need of the consumers so that the production is according to that to meet the needs.

7 0
3 years ago
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