Ask question

Ask question

All categories

ArbitrLikvidat [17]

2 years ago

11

__________ is a specialized accounting book, where transactions are categorized according to type. for example, all utility tran

sactions are recorded in the same category.

2 answers:

Margarita [4]2 years ago

6 0

The ans is a balanced sheet it the only acounting document that categorizes data

Aloiza [94]2 years ago

5 0

The ans is a balanced sheet it the only accounting document that categorizes data

You might be interested in

For each of the following transactions for the Sky Blue Corporation, prepare the adjusting journal entries required on October 3

alexandr1967 [171]

Answer:

(a) Debit Deferred revenue $800

Credit Revenue $800

Being entries to recognize revenue earned as at October 31.

(b) Debit Insurance expense $400

Credit Prepaid Insurance $400

Being entries to record insurance expense incurred as at October 31.

(c) Debit Depreciation expense $400

Credit Accumulated depreciation $400

Being entries to record depreciation expense on machine as at October 31

Explanation:

Adjusting entries are required when transactions have occurred but are yet to be properly accounted for in the company's books.

(a) Cash collected in advance results in the debit in cash account and a credit to deferred revenue. When the revenue is earned, it is recognized by crediting revenue and debiting deferred revenue with the amount earned.

As at October 31, amount earned

= 1/3 × $2,400

= $800

Entries required

Debit Deferred revenue $800

Credit Revenue $800

Being entries to recognize revenue earned as at October 31.

(b) For amount paid in advance, the expense is recorded when incurred by debiting the expense account and crediting prepaid account to reduce the amount prepaid.

Expense incurred as at October 31

= 1/3 × $1,200

= $400

Entries required

Debit Insurance expense $400

Credit Prepaid Insurance $400

Being entries to record insurance expense incurred as at October 31.

(c) Depreciation expense is recognized as the fixed asset is used by debiting the expense account and crediting the accumulated depreciation account.

Since the annual depreciation is $4,800

Monthly depreciation = 1/12 × $4800

= $400

Entries required

Debit Depreciation expense $400

Credit Accumulated depreciation $400

Being entries to record depreciation expense on machine as at October 31

4 0

2 years ago

You purchased 500 shares of Barden Enterprises stock for $55.43 per share at the beginning of the year. The stock is currently p

krok68 [10]

Answer:

Dividend yield is 2.91 %.

Explanation:

Dividend yield = Annual Dividend per Share / Stock Price per Share × 100

<em>where,</em>

Annual Dividend per Share = Total Dividends ÷ Total Number of Shares

= $835 ÷ 500

= $1.67

<em>then,</em>

Dividend yield = $1.67 / $57.48 × 100

= 2.905 or 2.91 %

4 0

2 years ago

Human Resource Consulting (HRC) surveyed a random sample of 60 Twin Cities construction companies to find information on the cos

Shkiper50 [21]

Answer:

a. Compute the standard error of the sample mean for HRC.

mean = 502
standard deviation = 100
sample size = 60
standard error = 100 / √60 = 12.9

b. What is the chance HRC finds a sample mean between $477 and $527?

P(477 ≤ X ≤ 527) = P(477 ≤ X - 502 ≤ 527 - 502)

= [(477 - 502) / 12.9] ≤ [(X - 502) / 12.9] ≤ [(527 - 502) / 12.9]

since (X - 502) / 12.9 = z, then

= -1.938 ≤ z ≤ 1.938

so P(477 ≤ X ≤ 527) = P(-1.938 ≤ z ≤ 0) + P(0 ≤ z ≤ 1.938)

z = 1.4662

P(477 ≤ X ≤ 527) = 0.4718 + 0.4718 = 0.9436

c. Calculate the likelihood that the sample mean is between $492 and $512.

P(492 ≤ X ≤ 512) = P(492 ≤ X - 502 ≤ 512 - 502)

= [(492 - 502) / 12.9] ≤ [(X - 502) / 12.9] ≤ [(512 - 502) / 12.9]

since (X - 502) / 12.9 = z, then

= -0.775 ≤ z ≤ 0.775

so P(477 ≤ X ≤ 527) = P(-0.775 ≤ z ≤ 0) + P(0 ≤ z ≤ 0.775)

z = 0.4906

P(477 ≤ X ≤ 527) = 0.2844 + 0.2844 = 0.5688

d. What is the probability the sample mean is greater than $550?

P(550 ≤ X) = P(550 - 502 ≤ X - 502)

= P(48/12.9 ≤ z)

= P(3.72 ≤ z)

= 0.5 - P(0 ≤ 3.72 ≤ z)

= 0.5 - 0.5 = 0

5 0

2 years ago

United Machining's margin was 2% and turnover was 3.0 on sales of $60 million for the year. On the basis on this information____

Hunter-Best [27]

Answer:

B, net income for the year was $1,200,000, average assets were $20 million, ROI was 6%

Explanation:

net income is calculated by multiplying the percentage margin by the sales. We have,

(2 ÷ 100) × $60,000,000

= 0.02 × $60,000,000

= $1,200,000

To calculate the average assets, sales is divided by the turnover.

we have, ($60,000,000 ÷ 3.0)

= $20,000,000.

To calculate the ROI, margin and turnover are multiplied.

we have,

(2% × 3.0) = 6%

Cheers.

3 0

2 years ago

The marginal utility of the last unit of apples consumed is 12 and the marginal utility of the last unit of bananas consumed is

allsm [11]

Complete question:

The marginal utility of the last unit of apples consumed is 12 and the marginal utility of the last unit of bananas consumed is 8. What set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium

a. $8 and $12

b. $6 and $4

c. $16 and $9

d. $4 and $6

Answer:

$6 and $4 set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium.

Explanation:

Given,

The marginal utility of the last unit of apples consumed = 12

The marginal utility of the last unit of bananas consumed = 8

Now ,

To find :

The market level for apples and bananas, respectively, will be compatible with the consumer's equilibrium:

= $\frac{12}{3}$ = $6

= $\frac{8}{2}$ = $4

$6 and $4 set of prices for apples and bananas, respectively, would be consistent with consumer equilibrium.

6 0

2 years ago