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zzz [600]
3 years ago
11

What are six advantages of books of prime entry​

Business
1 answer:
Liula [17]3 years ago
7 0

Answer:

The following are the advantages of maintaining books of original entry: (i) Future references to transactions become easy as transactions of similar nature are recorded in one journal. (ii) Mistakes in ledger accounts can be easily detected. (iii) Chronological recording of transactions reduce the chance of frauds.

Explanation:

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Wildhorse Co. entered into these transactions during May 2017, its first month of operations.
Alina [70]

Answer:

attached answer

Explanation:

equity represnet investment from owners and the accumulation of the result from the company operations.

1) equity increase the company receive an investment from owner

3-6-8) equity decrease as an expense is incurred which is a negative operation it has a negative impact on the earnings of the firm

4-5-9) the company's equity increase as income is generated from the main activity.

2-7)there is no involment of equity as the company acquired an asset and takes a liability while then, at payment an asset(cash) decrease an a liability( A/P) also decrease

We must remember that we work with accrual accounting thus, the day of collection or payment are not what determinates ncome and expenses.

3 0
3 years ago
All of the following are intangible assets except
guajiro [1.7K]
The answer to this question is:

<span>All of the following are intangible assets except??
</span><span>D-"Accounts Receivable."

Hoped This helped, </span><span> Awifeamother
Your Welcome :) </span>
4 0
3 years ago
Read 2 more answers
Cindy's Ceramics engaged in a like-kind exchange that resulted in a $3,000 gain. In addition to the like-kind property received
Vika [28.1K]

Answer:

$3,000

Explanation:

Data provided in the question

Gain received while exchanged = $3,000

Received cash = $5,000

Based on the above information, the Cindy recognize the gain i.e $3,000 which is received while exchanged it

Therefore in the given case, the Cindy have to recognize the gain for $3,000

The cash amount received should be ignored

7 0
4 years ago
What does the phrase "on the market" describe? A. Plans for making commodities available for sale or trade B. Ways producers com
vladimir2022 [97]

Answer:

<u>A. Plans for making commodities available for sale or trade</u>

Explanation:

  • As a market is a place where all the goods and commodities are brought for sale the products and services that exist in the market or on the market are those that brought for the consumption by the people.
  • This involves the plans for buying and selling in the market to get a good amount of returns. Off the market means the properties that are for sale but are not available for the purchase. Hence the products are based on the availability of the market conditions.
4 0
3 years ago
Read 2 more answers
The single milling machine at Stout Manufacturing was severely overloaded last year. The plant operates eight hours per day, fiv
NNADVOKAT [17]

Answer:

If we assumes we setup machine for product A x times, and B y times, the total hours required is 0.5*3000 + 0.8*2000+ 2*x + 8 *y = 3100+2x+8y. Notice that due to the capacity restriction x has to be no smaller than 150 hours (3000/20) and y has to be no smaller than 50 hours (2000/40). so total required hours must exceed 3100+2*150+8*50=3800. The management prefer a 15% capacity cushion, which means the total duration prepared for the processing should be at least 3800*(1+15%)=4370 hours.

If one machine operates eight hours per day, five days per week and 50 weeks a year, it operates 5*8*50 = 2000 hours in total.

That's why we need 2 more machines ( 3 machines in total since 4370 > 2*2000).

5 0
3 years ago
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