The reason(s) that accountants use sales returns and allowances account to keep a complete record of sales returns and allowances to calculate operating efficiency.
An accountant is a practitioner of accounting or accountancy. Accountants who have verified competency through their expert associations' certification exam ·rely on ·ing ə-: the device of recording and summarizing commercial enterprise and monetary transactions and reading, verifying, and reporting the effects. also: the principles and tactics of this gadget. they studied accounting as a freshman. : work executed in accounting or by using accountants.
An Accountant facilitates agencies making critical monetary decisions by collecting, tracking, and correcting the corporation's budget. they may be accountable for economic audits, reconciling financial institution statements, and making sure financial information is correct for the duration of the yr.
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Answer:
Debit Cash $1,000 and credit Notes Receivable $1,000.
Explanation:
The adjusting entry is shown below:
Cash Dr $1,000
To Notes receivable $1,000
(Being the note receivable collected by the bank is recorded)
While recording the transaction, we debited the cash account as it increases the cash balance and credited the note receivable.
Hence, the second option is correct
Answer:
The entire demand curve will shift upwards
Explanation:
SEE IMAGE ATTACHED
The price P of a product is determined by a balance between production at each price (supply S) and the desires of those with purchasing power at each price (demand D). The diagram shows a positive shift in demand from D1 to D2, resulting in an increase in price (P) and quantity sold (Q) of the product.
Answer:
units completed and ending work in process.
Explanation:
Process costing can be defined as a cost accounting method used for assigning manufacturing or production costs to the units of goods produced by a business firm over a specific period of time. It is mostly used by firms that produce a large quantity of homogeneous or similar products on a continuous basis. Process costing typically uses more than one Work in Process Inventory account because costing at each stage of production or manufacturing process.
Basically, when manufacturing overhead costs of a business firm or company are applied to the cost of production in a process costing system, they are debited to the Work-in-Process inventory account.
In the manufacturing process, partially or partly completed goods that are still in the process of being converted into a finish product are defined as work-in-process inventories.
Generally, the work-in-process inventories include the following raw materials cost, direct labor cost and factory overhead cost.
The equivalent-unit calculations is done by multiplying the number of partially completed physical goods by the percentage of completion.
Hence, equivalent-unit calculations are necessary to allocate manufacturing costs between units completed and ending work in process.
Answer: a) 0.04667544
b) 0.01129221
c) 0.98870779
Explanation:
Binomial probability formula :-
, where P(x) is the probability of getting success in x trials, n is the total number of trials and p is the probability of getting success in each trial.
Given : The probability of households say they would feel secure if they had $50,000 in savings = 0.30
Total number of households selected = 8
a) The probability that the number that say they would feel secure is exactly five will be :-
b) The probability that the number that say they would feel secure is more than five :-
c) The probability that the number that say they would feel secure is at most five :-
