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2 years ago

What happens to the balance sheet when a company makes sales of $500, of which $300 is paid in cash and $200 is sold on credit

Business

1 answer:

postnew [5]2 years ago

7 0

Based on the information given what happens to the balance sheet is:

Debit Cash $300 ; Debit Accounts receivables $200 ;Credit Retained earnings $500.

The appropriate journal entry is:

Debit Cash $300

Debit Accounts receivables $200

Credit Retained earnings $500

(To record retained earnings)

Inconclusion what happens to the balance sheet is: Debit Cash $300 ; Debit Accounts receivables $200 ;Credit Retained earnings $500.

Learn more about balance sheet here:brainly.com/question/1113933

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In 2022, internal auditors discovered that Axel Corp., had debited an expense account for the $2,090,000 cost of a machine purch

antoniya [11.8K]

Answer:

Debit Depreciation expense $570,000

Credit Accumulated depreciation $570,000

(To record the accumulated depreciation for 3 years)

Explanation:

Using a Straight-line depreciation method, depreciation expense = (Cost - Salvage value)/Estimated useful life

Depreciation expense = $2,090,000 / 11 years = $190,000 yearly

We would assume that the internal auditors detected the error at the beginning of Year 2022, so the accumulated depreciation for 3 years (Jan 2019 - Dec 2021) would be $190,000 x 3 years = $570,000

The following correctional entries will apply:

Debit Fixed asset - Machine $2,090,000

Credit Expense account $2,090,000

(To appropriately record the purchase of machine)

The required adjustment fot the accumulated depreciation is recorded above under the answer section.

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3 years ago

"_____ believe(s) that the new global division of three main trading blocks benefits the multinational giants as well as the cit

larisa [96]

The answer is Conflict theorist
Conflict theorist Claims that every members in society will have to experiences continous conflict toward one another because of the competition to obtain limited amount of resources.
They tend to see that the majority of members in society will always be dominated/controlled by smaller amount of people that control the largest amount of resources.

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3 years ago

In doing "aggregate planning" for a firm producing paint, the aggregate planners would most likely deal with:

Gennadij [26K]

Answer:

The answer is option D) In doing "aggregate planning" for a firm producing paint, the aggregate planners would most likely deal with: all the different sizes and all the different colors by size.

Explanation:

Aggregate planning is concerned with forecasting the needs operational needs of an organization and making provisions for them ahead of time.

Aggregate planners develop, analyze, and draft an estimated schedule of the overall operations of an organization.

This estimated schedule contains targeted sales forecasts, production levels, inventory levels, and customer backlogs.

In doing "aggregate planning" for a firm producing paint, the aggregate planners would most likely deal with: all the different sizes and all the different colors by size.

The purpose of aggregate planning is to maximize the utilization of equipment in order to increase productivity levels.

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3 years ago

The typical goal used when developing a process-oriented layout strategy is to: minimize the distance between adjacent departmen

Georgia [21]

Answer:

minimize the material handling costs.

Explanation:

A process-oriented layout is a strategic method or technique used by manufacturing companies to organize and develop their work areas (factories) based on the processes and activities being performed at each factory rather than on the product being manufactured.

Hence, the typical goal used when developing a process-oriented layout strategy is to minimize the material handling costs for each factory.

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.

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3 years ago

The tendency or potential for plasticity is greatest in

nadya68 [22]

Answer:

The correct answer is : Infants from 1 to 2 years old.

Explanation:

According to the Physical and Cognitive Development theory, plasticity is the ability of the brain to overcome the functionality of injured parts. In this sense, preschoolers with brain language areas damaged are likely to take them up due to plasticity since plasticity is greater in infants from 1 to 2 years old.

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3 years ago