Ask question

Ask question

All categories

2 years ago

9

15. The normal balance side of any expense account is (A) the debit side. (B) the credit side. (C) the right side. (D) either th

e debit side or credit side.

1 answer:

USPshnik [31]2 years ago

7 0

Answer:

The answer is a the debit side

You might be interested in

A company purchased land for $350, 000 cash. Real estate brokers commission was $25,000 and $35,000 was spent for demolishing an

docker41 [41]

Under the historical cost principle the cost of land would be recorded at: <u>d. $410,000 </u>.

<u>Explanation</u>:

<em><u>Given</u></em>:

Purchase cost of land = $350,000

Brokers commission = $25,000

Cost for demolishing old building = $35,000

Principle cost of land = ?

Principle cost of land= Purchase cost of land+ Brokers commission+ Cost for demolishing old building

= $350,000+$25,000+$35,000

= $410,000

Principle cost of land= $410,000

The correct option is <u>d.$410,000</u>.

7 0

3 years ago

Leading guitar string producer wound up inc. has enjoyed a competitive advantage based on its proprietary coating that gives its

Rashid [163]

Answer:

(C) Direct imitation and Substitution

Explanation:

As a leading guitar string producer Wound Up inc. has enjoyed a competitive advantage based on its proprietary coating that gives its strings a clearer sound and longer lifespan than uncoated strings. One of Wound Up's competitors, has recently developed a similar coating using less expensive ingredients, which allows it to charge a lower price than wound up for similar-quality strings. Therefore and consequently, Wound Up's competitive advantage is in danger due to direct imitation and substitution. As it has been very much obvious from the given data that Wound Up was enjoying superior position in the market based on the clearer sound and longer lifespan of its guitars, which was purely due to their signature coating which they used on the strings. When on its competitor has developed the same kind of coating but even at the lesser rates, then of course, they can enjoy much better position in the market and they can compete much effectively with the Wound UP, both in quality and price as well. This direct imitation and substitution can lead Wound Up losing its competitive advantage, therefore, either they can develop the same strings at the less process or they have to come up with something totally new, creative and unique in order to win this competition now.

5 0

3 years ago

Naomi tells her sales representatives the goal is to generate at least a 20 percent return on investment for all of the industri

Law Incorporation [45]

Answer:

Margin

Explanation:

When you use an indicator like a return over something else (in this case over the investment) the demand is around having a margin over a quantity, so the indicator in this case could be operational margin or net margin but all of the over the sales.

3 0

3 years ago

Read 2 more answers

Credit terms are terms for

Tom [10]

I believe it is A because a credit term indicates when payment is due for sales made on an account.

I also do not know what you mean by choice B

3 0

3 years ago

"Weston Jewelers uses the perpetual inventory system. On April 2, Weston sold merchandise with a cost of $5,000 for $10,000 t

EastWind [94]

Answer:

net sales revenue is $6,800

Explanation:

On April 2

Cost of Goods Sold $5,000 (debit)

Merchandise $5,000 (credit)

<em>Being recognition of cost of goods sold</em>

Trade Receivables $10,000 (debit)

Revenue $10,000 (credit)

<em>Being recognition of revenue and trade receivable following a sale on account</em>

April 4

Returns Inwards $2,000 (debit)

Trade Receivables $2,000 (credit)

<em>Being recognition of allowance granted on damaged goods</em>

April 10

Note that the payment is still within the cash discount period of 15 days

discount is granted on the amount of trade receivable balance outstanding

Balance outstanding: $10,000 - $2,000 = $8,000

Cash $6,800 (debit)

Trade Receivables $6,800 (credit)

8 0

2 years ago