Answer:
A- Gill, a credit customer
Explanation:
A journal entry involves the process of keeping the records of business transactions made by an organization.
Journal entries are mainly used by bookkeepers and accountants. Ideally, it is important that a journal has all of following informations; date, reference number, debit balance, credit balance and transaction description.
A sales ledger can be defined as an accounting book that comprises of the individual account of each customer of a business firm and records the money received for goods or services purchased, whether the payment has been received or not.
Simply stated, a sales ledger sequentially records all sales that have taken place in a business, whether or not payment have been received.
This ultimately implies that, a sales ledger contains accounting information on all sales transaction made by a company including, money received for its goods and services and money owed by its customers.
Hence, the account which will appear in the sales ledger is that of Gill, a credit customer.
Answer:
a Debit
b Credit
c Debit
d Credit
e Credit
f Credit
g Debit
h Debit
i Debit
Explanation:
The rules are that increase in assets such as cash account ,delivery equipment,accounts receivable are debited while the reverse is done for reduction in assets.
The increase in liability accounts and revenue such as accounts payable and revenue account delivery fees are normally credited while the reverse applies to decrease in liabilities.
The increase in expense is normally debited while the reduction in expense is a credit.
The increase in capital account is a credit
Answer:
$4,000
Explanation:
The asset's recovery period is 5 years and the half-year convention applies.
Therefore :
$20,000 ×0.20 = $4,000.
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Answer: During periods when the inflation rate fluctuates widely, "c. uncertainty about changes in relative prices causes a decrease in economic efficiency".
Explanation: Economic process caused by the imbalance between production and demand; it causes a continuous rise in the prices of most of the products and services, and a loss of the value of the money to be able to acquire them or make use of them. The uncertainty in prices caused by inflation also negatively affects consumers, since they must waste time researching the price of the products they consume. So this uncertainty and less information, which produces inflation, negatively affects both investors and consumers, and with this negatively affects the growth possibilities of the economy.
