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3 years ago

The action of keeping financial accounts is called PLEASE HELP

Business

1 answer:

Alex3 years ago

6 0

Answer:

How Accounting Works

Accounting is one of the key functions for almost any business. It may be handled by a bookkeeper or an accountant at a small firm, or by sizable finance departments with dozens of employees at larger companies. The reports generated by various streams of accounting, such as cost accounting and managerial accounting, are invaluable in helping management make informed business decisions.

Explanation:

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Because it takes many years before newly planted orange trees bear fruit, the supply curve in the short run is almost vertical.

Sergeu [11.5K]

Because it takes many years before newly planted orange trees bear fruit, the supply curve in the short run is almost vertical. In the long run, farmers can decide whether to plant oranges on their land, to plant something else, or to sell their land altogether. Therefore, the long-run supply of oranges is much more price sensitive than the short-run supply of oranges.

Assuming that the long-run demand for oranges is the same as the short-run demand, you would expect a binding price ceiling to result in a <u>Shortage</u> that is <u>Larger</u> in the long run than in the short run.

Answer: (a) shortage,(b) Larger

<u>Explanation:</u>

Binding ceiling price which is set by government.Ceiling price is the maximum price above which we cannot sell the goods. Binding ceiling price means price that is set below the equilibrium price.Firms cannot sell there goods above that price. Now equilibrium price means ,a price which is determined at a point where demand and supply curve meets.

When there exist binding ceiling price than there might be some firms who are not willing to sell at that price .So there can be shortage of supply .This shortage will be larger in long run than in short run because in short run supply remains same irrespective of change in price.

7 0

3 years ago

IE 11-1 ... AS/AD Model – Assume this economy has now moved from Year 3 back to Year 2 as a result of too much "monetary contrac

lord [1]

Answer:

110 million. Point U.

Explanation:

This economic system is referred to as a depression and it is a downturn that has occurred over a long period of time. It is a sustained downturn that is more worse than a recession. This normally affects the economic activities. In the economic system above, the employment decreased to 10 million while the economic system is at Point U.

4 0

3 years ago

At December 31, Folgeys Coffee Company reports the following results for its calendar year. Cash sales $ 918,000 Credit sales 31

Leona [35]

Answer:

Journal entries

Explanation:

The journal entries are as follows

a. Bad debt expense $15,900 ($318,000 × 5%)

To Allowance for doubtful debts $15,900

(Being the bad debt expense is recorded)

b. Bad debt expense $37,080 ($318,000 + $918,000) × 5%0.

To Allowance for doubtful debts $37,080

(Being the bad debt expense is recorded)

c. Bad debt expense $18,240 {($143,000 × 8%) + $6,800}

To Allowance for doubtful debts $18,240

(Being the bad debt expense is recorded)

Since same entry are passed but the amount are different as in the first case the bad debt is calculated on credit sales. In the second case, it is calculated on total sales and on the third case it is calculated on account receivable after considering the debit balance

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3 years ago

Select the correct text in the passage. Which sentence in the passage shows hazards that an office worker is likely to face? Owe

iren2701 [21]

<h2>He suffers from back and neck pain every now and then</h2>

Explanation:

Normally a software programmer of any field needs to code extensively. The room for physical work is very negligible or zero.

Software programmers fix issue, write code, attend client calls, coordinate with multiple team members. So they entirely use their brains and work.

So they have use keyboard and mouse extensively and often they forget to blink their eyes, relax their fingers during their extensive use, do proper exercise to relax their muscles and also improper posture while working on the computer.

Because of these factors, software programmers suffer from back and neck pain.

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3 years ago

The book balance in the checking account of Kyri Enterprises as of November 30 is $2,964. The bank statement shows an ending bal

lianna [129]

Answer:

reconciliation of bank balance:

bank balance $2,525

+ deposits in transit 11/29 $125

+ deposits in transit 11/30 $200

- outstanding check N. 322 $17

- outstanding check N. 324 $105

- outstanding check N. 327 $54

adjusted bank balance $2,674

reconciliation of checking account:

checking account balance $2,964

+ error on Check N. 321 $20

- NSF check $185

- unrecorded ATM withdrawal $100

- bank fees $25

adjusted checking account $2,674

To correct the error on Check N. 321

Dr Cash 20

Cr Accounts payable 20

To record NSF check

Dr Accounts receivable 185

Cr Cash 185

To record ATM withdrawal

Dr Drawing - Susan Kyri 100

Cr Cash 100

To record the bank fees

Dr Bank charges 25

Cr Cash 25

4 0

4 years ago