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sesenic [268]
2 years ago
13

When a transaction is journalized, which account is listed first?.

Business
1 answer:
Rama09 [41]2 years ago
7 0

Answer:

When transactions are entered in a general journal, the asset accounts are listed first, followed by the liability and owner's equity. When a transaction is entered in a general journal, the first account title is indented about half an inch from the left margin of the description column. You just studied

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Peggy Grey's Cookies has net income of $400. The firm pays out 30 percent of the net income to its shareholders as dividends. Du
andreev551 [17]

Answer:

Cash flow = $35

Explanation:

Cash flow= Payout ratio*net income-price of stock= 0.30*400-85=35

3 0
3 years ago
You and nine of your wealthy friends decide to purchase a local minor league baseball team. The purchase price is $15 million, 6
worty [1.4K]

Answer:

Limited liability company

Explanation:

A limited liability company is a company where the liabilities of partners is limited to the amount invested in the company. A limited liability company has features of both a partnership and a sole proprietorship

The partnership is made up of a general partner and the limited partners. the general partner is involved in the daily running of the business. The limited partners are not involved in the daily running of the business. They just contribute capital.

In this question, the person involved in the running of the business is the general partner while the other 9 friends are the limited partners.

4 0
3 years ago
What are mutual funds? Explain the associated risks.
ipn [44]

Answer:

A mutual fund is an investment program funded by shareholders that trades in diversified holdings and is professionally managed.

Risks:

The level of risk in a mutual fund depends on what it invests in. Stocks are generally riskier than bonds, so an equity fund tends to be riskier than a fixed income fund. Plus some specialty mutual funds focus on certain kinds of investments, such as emerging markets, to try to earn a higher return. These kinds of funds also tend to have a greater risk of a larger drop in value—yet the greater the risk, the greater the reward (or potential for higher returns).

Risks of Investing in Equity Mutual Funds The below are a few key risks involved with investing in equity funds: Volatility Risk: An equity fund invests primarily in the shares of companies listed on stock exchanges. Thus, the value of an equity fund is directly related to the performance of companies, in stocks of which it has invested.

5 0
3 years ago
A pre-concert rehearsal is an example of
Mrrafil [7]

Answer:

Quality control

Explanation:

Six Sigma is a quality business management strategy which helps business organizations to improve the quality of processes, products and services by discovering and eliminating defects, variations or errors. It is a strategic business concept that was developed in 1986 by Motorola.

Under the six sigma approach, any process that doesn't provide customer satisfaction or causes challenges in an organisation's process should be eliminated from the system in order to produce quality products and services. It allows only 3.4 defective features for every million opportunities and as such expects processes to be defect free 99.99966 percent of the time.

Generally, there are two (2) main methods of achieving the six sigma approach;

1. DMAIC: define, measure, analyze, improve and control.

2. DMADV: define, measure, analyze, design and verify.

Hence, a pre-concert rehearsal is an example of quality control because the participants or team members are made to practice their routines so as to master them and prevent mistakes on the day of the concert. Thus, a pre-concert is aimed at getting the best out of a team in order to deliver a quality performance to the audience.

5 0
2 years ago
On September 1, 2021, Custom Shirts Inc. "entered into a lease agreement appropriately classified as an operating lease". The le
Savatey [412]

Answer: Please refer to the explanation section

Explanation:

The question is not clear in terms of when is the financial year end, we only its 2021. We will assume the financial year started in January 2021 and ended December 2021

Operational Lease is an agreement where the lessor (owner of the asset)  allows the lessee (user of the asset) to only use the asset without the transfer of ownership. Ownership of the asset is not transferred to the lessee/ user of the asset. lease Payments/ Rental payments are considered as expenses and are recognize in the income statement.

Custom Shirts Inc entered into a Lease agreement on the 1st of September 2021. assuming the financial year ends on December 2021, the expense Recognized in the Income statement for the year ended December 2021 will

$ 24000 x 4 months/12 months =$ 8000

8 0
3 years ago
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