Therefore; its is debit balance.
TRANSACTION JOURNAL ENTRIES:No Account Titles and Explanations Debit Credit 1 Merchandise inventory $ 30,000 Accounts payable 30,000
[To record merchndise purchased on account]
2 Cash $ 15,000 Sales 15,000 [To record cash sales made during the month] Accounts receivable $ 35,000 Sales 35,000
[To record sales made on account during the month]
Cost of goods sold $ 20,000 Merchandise inventory 20,000
[To record cost of goods sold during the month]
3 Cash $ 10,000 Accounts receivable 10,000
[To record cash collected from customers]
4 Accounts payable $ 18,000 Cash 18,000
[To record cash paid to suppliers]
5 Insurance expense [6000/12]
$ 500 Prepaid insurance 500
[To record expired insurance premium]
6 Depreciation -Building $ 250 [60000/(20*12)]
Accumulated depreciation-Building 250
[To record depreciation for the month]
7 Interest expense [60000*8%/12]
$ 400 Interest payable 400 [To record interest accrued]
The normal balances of sales, sales discounts, and sales returns and allowances are ________ Normal balance of sales;
Credit Normal balance of sales discount;
Debit Normal balance of Returns and allowances on sales;
Debit A normal balance is the assumption that a specific type of account will have either a debit or a credit balance. The normal sales balance is credit. The sales returns and allowances account is subtracted from sales because these accounts have the opposite effect on net income. Therefore, sales returns and allowances is considered a contra‐revenue account, which normally has a debit balance.
The account Sales Discounts is referred to as a contra-revenue account. Therefore; its is debit balance.
To know more about debit balance :
https://brainly.com/question/26135584
#SPJ4
what is one of the most common mistakes salespeople make? question 5 options: walking away too soon relying on charm offering discounts overselling
Overselling is one of the most common mistakes salespeople make.
The salesperson is responsible for greeting clients, assisting them to find gadgets in the shop, and ringing up purchases. To be successful as a sales clerk you have to have tremendous conversation abilities. a very good shop clerk meets income targets even as closing polite and useful to clients.
The definition of a sales clerk is a person who sells goods or offerings. An example of a shop clerk is a person who sells motors. a salesman or saleswoman. someone who is hired to sell services or products.
A salesperson is a person who sells a product or service, and his or her fundamental objective is making income. The sales clerk may also or might not definitely be passionate about the service or product.
Learn more about salespeople here:https://brainly.com/question/25743891
#SPJ4
If 8,000 units are produced and sold, what is the variable cost per unit produced and sold?.
Take each variable cost and multiply by 8,000, then take the total and divide it by 8,000 to get the cost per unit.
Sum all the variable costs required to produce the unit to get the total variable cost of the unit produced. Multiply the variable cost of a unit of a product by the total number of units produced. The sum of this calculation is the total variable cost.
Definition: Unit variable cost is the cost of production for each unit produced that is affected by changes in a firm's production volume or activity level. Unlike fixed costs, these costs change as production increases or decreases.
Learn more about variable costs at
https://brainly.com/question/5965421
#SPJ4
WHAT ARE TWO BENEFITS AND DRAWBACKS OF BEING A SOLE TRADER?
Explanation:
benefits of being a sole trader
The main benefit of being a sole trader is that you are your own boss and you can dictate the direction of the business.you keep all the profits andyou have maximum privacy.
drawbacks
Financing and business credit is harder to procurePotential credibility issue5. Zen wants to become an artist, but artists are not easily employed . What economic influence might impact Zen's decision to choose this career path ? A.Consumer Prices
B. Consumer Spending
C. Unemployment
D. Gross Domestic Product
Answer:
C. Unemployment
Explanation:
Unemployment is a state where a jobless adult seeks to be hired but cannot find work due to a lack of employment opportunities. The unemployment rate is high when many people are looking for work, but only a few job opportunities are available.
Unemployment is present in every economy but is unevenly distributed in different sectors. In this case, there are few job opportunities for artists. It means the unemployment rate for artists is high. The high possibility of not being employed may influence Zen's decision on his career path.
an inflationary gap occurs when the as curve and the ad curve intersect of the potential gdp line.
An inflationary gap occurs when real GDP exceeds potential GDP and that brings a rising price level. An inflationary gap occurs when the AS curve and the AD curve intersect to the right of the potential GDP line. An inflationary gap is the difference between the current level of real GDP and the GDP that would exist if an economy was fully employed.
The current real GDP must be greater than the potential GDP for the gap to be termed inflationary. Assume that there is a national economy that produces 10,000 gallons of milk every week. However, the total weekly milk demand is 15,000 gallons.
To learn more about inflationary, click here.
https://brainly.com/question/24390085
#SPJ4
in this lesson, you will submit a yearly budget based on your current salary or the specific salary from the career path activity earlier in the lesson. your budget must reflect what you will spend as an adult living independently, without parents or roommates to help, on your own career salary. as you work to create your budget, please make sure that you complete all of the steps detailed in the lesson: calculate your income: determine your net income value by subtracting estimated taxes and fees from your gross income. calculate your expenses: estimate how much you will spend in a full year for each of the 11 categories listed in the lesson. put it all together: using the provided budget worksheet, compile and present calculated income and expenses. analyze your budget: determine if you are living within your means. if necessary, find ways to reduce expenses so that they are in line with your income.
A budget is largely a financial plan for a described length, typically a year this is acknowledged to significantly enhance the fulfillment of any financial task.
The non-public budget of an individual will be a surplus price range or deficit price range, or stability price range. it is surplus when earnings are extra than expenditure. it's far deficit whilst expenditure is extra than revenue, it is balanced when income is equal to the expenditure.
In a scenario in which the income is not sufficient to cover the expenditure, the individual can reduce a maximum of the costs to a manageable size, on way to make certain that there's extra money to fulfill the most pressing need at the factor in time.
The individual could make modifications to the budget using slicing down all costs that are not necessary, and that are not so essential in the interim. a good way to make money to be had for the ones object that has to do with the survival of the house along with meals, garb, and shelter. All the acquisition of luxury objects that may affect the finances ought to be removed from the price range until there is more money to satisfy them.
Budgeting is crucial in my existence because cash is a vital resource and it desires to be controlled nicely. It turned into easy as it became not real. maybe once I turn out to be a person, it will become difficult. A big buy credit will take a large part of the price range. The interest will take out those elements intended for things which means that I will make reasonably-priced purchases for those gadgets that may be adjusted.
Learn more about budgeting here brainly.com/question/6663636
#SPJ4
In the wrong hands, which of the following pieces of personal information would present the greatest risk for identity
theft?
a. credit card number
b. date of birth
c.phone number
d. place of birth
Answer:
a
Explanation:
with a credit card number that can access you money, name, and your d.o.b
with a d.o.b they cant do anything bc a lot of ppl have the same birthday
phone number they cant do anything bc more than 1 person have the same number like if someones bill wasnt paid, they recycle the #.
place of birth a lot of ppl were born at the same hospital
In the wrong hands, the credit card number would present the greatest risk for identity theft.
What is credit card number?A credit card number is a string of numbers that appears on the front of the card. Its purpose is to find out who owns the credit card and who owns the account. It also aids in fraud prevention.
With the credit card number, the name, and date of birth of any person can be detected. They can't accomplish anything with a date of birth because so many people share the same birthday.
The credit card number poses the biggest risk of identity theft in the wrong hands.
Therefore, option a is correct.
Learn more about the credit card, refer to:
https://brainly.com/question/27350251
#SPJ2
Pepsico entered into a long-term contract with a south african beverage company. The contract calls for the south african firm to produce and market pepsi products in the country. Pepsico will receive royalties on each case of sodas sold. This is an example of.
Joint venture
Pepsico signed a long-term agreement with a South African beverage company. The agreement calls for the South African company to manufacture and market Pepsi merchandise in the country. Pepsico will be compensated for each particular instance of soda sold. This is an example of a joint venture.
A joint venture is a partnership between two or more parties to develop a single organization or project for profit while sharing the risks involved with its development. The joint venture's parties must consist of at least two natural persons or entities.
To learn more about joint ventures in businesses: brainly.com/question/9389546
#SPJ4
If you have an orientation where you read manuals and fill out paperwork, it is probably a _____.
a.
new hire orientation
b.
interactive orientation
c.
reorientation
d.
mentorship
Answer:
The answer should be B!
Explanation:
I took the test :)
An orientation where you read manuals and fill out paperwork is a new hire orientation.
What is new hire orientation?New hire Orientation is done for new employee to know the work space they are just employed into.
This orientation are interactive and exercises that are engaging can be given to an employee that would require filling out some paperworks.
Therefore, an orientation where you read manuals and fill out paperwork is a new hire orientation.
Learn more on employee orientation here,
https://brainly.com/question/4718007
an economic system in which the market largely determines what products get produced, who gets them, and how the economy grows is a economy.
Cards. economies in which the production of goods and services, their consumption, and the rate of economic expansion are largely determined by the market. The term used to describe this economic structure is capitalism.
In a capitalist economy, private people or companies own the capital assets. The labor force, which does not own the means of production but merely uses them on behalf of the capital owners, is employed by business owners (capitalists).
Exactly who gains from capitalism?
Individual capitalists are often rich persons who have a significant amount of capital (cash or other financial assets) invested in their businesses. They gain from capitalism by increasing their wealth through increased profits.
To know more about capitalism.
https://brainly.com/question/25879591
#SPJ4
Which of the following is the term used to describe costs which change day to day, week to week and month to month based on business activities?
Answer:
Variable costs
Explanation:
Variable costs is the term that describes business costs that vary with the production level. An increase in output increases the variable costs. Variable costs are progressive and increase or decrease with the production volume.
Examples of variable costs include raw material and distribution costs. Variable costs contrast with fixed costs, which remain constant throughout a financial period.
how can i write an email about the district manager attempting to convince them to use a single line system instead of multi-line system in place
What document outlines the terms and conditions under which a tenant occupies a property, and outlines the rights and responsibilities of both parties? a. lease c. rent-to-own contract b. purchase agreement d. home equity loan
Answer:
a. lease
Explanation:
Lease is defined as a contract agreement that states the amount a lessee pays to the lessor for use of a property.
Also various conditions of use are usually stated in the lease.
For example who will handle maintenance of the property.
These terms are agreed by both parties and is binding on them.
Information like the lease amount, due date, lessor, and lessee are stated
mr. thomas has $100 income this year and zero income next year. the market interest rate is 10 percent per year. mr. thomas also has an investment opportunity in which he can invest $50 this year and receive $80 next year. suppose mr. thomas consumes $50 this year and invests in the project. what will be his consumption next year?
Kingdom tax groups have their very own rule and lots have greater time to acquire. as an example, California can gather nation taxes up to twenty years after the evaluation date.
Solution:
Income $100
Used $50
Remaining $ 50
Invest in Project Projecta $50
Receive $ 80
Consumption next year = $ 80.
The penalty is normally 5% of the tax owed for every month or a part of the month the return is overdue. The most failure-to-record penalty is 25%. if your go-back is extra than 60 days late the minimum penalty for no longer filing taxes is $435 or the amount of tax owed whichever is smaller. Any 12 months you have minimal or no income you may be capable of bypassing filing your tax return and the related office work. however, it is flawlessly criminal to document a tax return showing 0 earnings and this is probably an awesome idea for some reasons.
Learn more about An investment here:-https://brainly.com/question/25015549
#SPJ4
Which is the BEST goal to use when creating a marketing strategy?
O
raise awareness of the brand
increase sales by 5 percent
get more customers to visit the website
add teenagers to the target market
Answer:
I guess the answer is :- increase sales by 5 percent
behaving ethically means doing more than just not breaking the law. businesses must also adhere to standards of moral behavior; that is, behavior accepted by society as right versus wrong. these standards are called
Ethics are the standards in place for acceptable behavior by society.
Being ethical entails more than simply not violating the law. Enterprises must also comply with moral behavior standards, that is, behavior that society accepts as right versus wrong. The Company's directors, officers, and employees must follow the Code of Business Conduct and Ethics.
The purpose of the Company's Code of Business Conduct and Ethics is to discourage wrongdoing, promote honest and ethical conduct, and ensure that the Company's business is carried out consistently, ethically, and legally to the most significant degree possible. It is designed to fulfill the requirement for senior financial officers to have a Code of Ethics. Employees may submit complaints or concerns about ethical concerns on a confidential basis.
To learn more about Ethics: brainly.com/question/24606527
#SPJ4
in a(n) blank , there are no tariffs or quotas when members trade, and each member maintains its own external tariff on goods arriving from countries in the rest of the world.
In a free trade area, there are no tariffs or quotas when members trade, and each member maintains its own external tariff on goods arriving from countries in the rest of the world.
What is a free trade area?These areas are related among the group of countries that are committed to removing all barriers to the free flow of goods and services between each other but also pursuing an independent external trade policies.
In these area, there are usually no tariffs or quotas when members trade and each member maintains its own external tariff on goods arriving from countries in the rest of the world.
Read more about free trade area
brainly.com/question/5369699
#SPJ1
jane believes that adhering to laws and statutes will make her chemical manufacturing company both ethical and socially responsible. her company makes business decisions simply to avoid breaking the law. which theory of corporate social responsibility does jane most likely follow?
The theory of corporate social responsibility that Jane most likely follow is known as the government hand theory.
What is the corporate social responsibility?It refers to the management concept whereby most companies integrate their social and environmental concerns in their business operations and interactions with their stakeholders.
The categories of corporate social responsibility includes:
Environmental ResponsibilityEthical ResponsibilityPhilanthropic ResponsibilityEconomic Responsibility.Read more about corporate social responsibility
brainly.com/question/1373962
#SPJ1
What are the three ways through which a company tries to sell its products?
Answer:
Taking the time to talk about the quality of the product and explaining its purpose. And saying how it would be a good price for something like the product theyre selling hope this helped..... :)
Explanation:
when an employee examines the rational aspects of a situation as well as the emotional, and uses observation and inquiry skills, which approach to decision making is being used?
A design thinking approach to decision making is being used when an employee examines the rational aspects of a situation as well as the emotional, and uses observation and inquiry skills.
What is a design thinking approach?It is also called a human-centered approach to innovation that is anchored in understanding customer's needs, rapid prototyping, and generating creative ideas.
All these will transform the way you develop products, services, processes and organizations.
Read more about design thinking
brainly.com/question/24596029
#SPJ1
For all the women out there, what do y'all like a men to do for you for your birthday?
Just wondering because it's my girls birthday today and I what to surprise her with something good. Help me please.
Answer:
I'd like gifts or just spending more time with my partner, foods fine
Explanation:
Girls don't expect much and if you are willing to spend time and give a small gift, that's all
in the leader role, managers pass privileged information directly to subordinates, whereas in the disseminator role, managers send information to people outside of their organizations.
False, in the leader role, managers pass privileged information directly to subordinates, whereas in the disseminator role, managers send information to people outside of their organizations.
What is a Leadership Role?A leadership role involves taking charge of a team or entire organization.
A leader has the ability to influence others and guide your team in a shared strategy. The leader is also responsible for building and maintaining employee morale, helping employees reach their full potential and inspiring employee loyalty.
Learn more about Leadership at https://brainly.com/question/1232764
#SPJ1
financial statement auditing and services are both types of assurance services, but services are not.
Financial statement auditing and attestation services are both types of assurance services but consulting services are not.
Financial normally refers to cash matters or transactions of a few lengths or importance: a financial wizard. Monetary is used specifically in reference to government finances, or those of any enterprise: the end of the fiscal year. Economic relates, in particular, to cash as such: a monetary machine or popular.
Financial economics is a department of economics that analyzes the use and distribution of assets in markets. Economic choices have to regularly don't forget future occasions, whether or not the ones be related to man or woman stocks, portfolios, or the market as a whole.
In line with Blackwell, there are numerous triggers that could purpose financial anxiety. Some commonplace ones encompass a potential process loss, a money misstep, a lack of private finance training, or your adolescent beliefs approximately cash.
Learn more about financial here https://brainly.com/question/2801397
#SPJ4
The cost of campaigning requires candidates to conduct extensive
activities.
O community service
O fund-raising
O illegal
O campaigning
Answer:
fund-raising
Explanation:
Running for a political office is an expensive affair. The candidate and political party require a lot of money to run a successful campaign. To raise funds needed to conduct campaigns, political parties and candidates organize fundraising activities and events.
Community service and campaigning are good platforms to woe voters but cannot generate funds to run for a political office.
a major part of the strategy developer role of leaders is to help the firm deal effectively with its internal environment.
It is False. A major part of the strategy developer role of leaders is not to help the firm deal effectively with its internal environment.
What Do Organizational Leaders Do?The organization one works for and the position one has have an influence on organizational leadership roles. Even though it's a crucial skill, "organizational leader" isn't the title that's most frequently used. Initial descriptions of organizational leaders refer to "high potential" workers (HiPos). They eventually move into organizational leadership positions with management and director-level titles like dean, provost, general counsel, chief financial officer (CFO), etc. as they advance in a firm, business, or nonprofit.
Managing and inspiring a team, using a problem-solving approach to solve any issues that may occur, creating team goals, and collaborating with other departments while bigger organizational goals are pursued are among the real day-to-day activities and responsibilities of an organizational leader.
To learn more about organizational leaders from given link
https://brainly.com/question/12522775
#SPJ4
Gina is conducting a bank reconciliation. She finds that the reason why the
accounts do not balance is because of a service fee. This amount should be
OA. added to the bank balance
B. added to the book balance
OC. subtracted from the bank balance
OD. subtracted from the book balance
Answer:
C. subtracted from the bank balance
Explanation:
A service fee is an amount charged by banks for services rendered. It is an income to the bank but an expense to the business. The banks deduct service fees automatically from the customer's accounts. The amounts and the date that a service fee has been charged reflects as a deduction on the customer's bank statement.
In reconciliations, the service fee should be deducted from the bank's balance. It is money that belongs to the bank and should reduce the customer's bank balance.
Answer:
D. Subtracted from the book balance
Hope this helps :)
10 POINTS PLEASE HELP ASAP
What kind of product should a country produce to obtain the maximum gains from trade?
A.
Products that have the lowest opportunity cost of production.
B.
Products that have the highest opportunity cost of production.
C.
Products that need to be produced using the most expensive resources.
D.
Products that can be produced with a minimum number of resources.
Answer:
I wanna say D
Explanation:
hope that helps
The products that can be produced with a minimum number of resources a country should produce to obtain the maximum gains from trade. Thus option (D) is correct.
What is Trade?Trade refers to the voluntary exchange of goods or services between economic actors. Since transactions are consensual, trade is generally considered to benefit both parties.
In finance, trading refers to purchasing and selling securities or other assets. In international trade, the comparative advantage theory states that trade benefits all parties.
Most classical economists advocate for free trade, but some development economists believe protectionism has advantages. In macroeconomics, trade usually refers to international trade, the system of exports and imports that connects the global economy.
A product sold to the global market is an export, and a product bought from the global market is an import. Exports can account for a significant source of wealth for well-connected economies.
Learn more about Trade here:
https://brainly.com/question/13837684
#SPJ2
What characteristic is somewhat shared by perfect competition and
monopolistic competition?
Few sellers
O Unique products
Government controls
O
Ease of entering
Answer:
Ease of entering
Explanation:
The main difference between perfect competition and monopolistic competition is that firms sell a similar product in perfect competition. In monopolistic competition, firms sell differentiated products.
In both market structures, their many seller and buyers. There is the ease of entry and exit for suppliers. In both markets, there are no dominant suppliers.
Salaries and wages expense should have been accrued on december 31st, but the entry was not made. The result of this oversight is that.
Salaries and wages expenses should have been accrued on December 31st, but the entry was not made. The result of this oversight is that the liabilities are understated
Cash, inventory, property, accounts receivable, prepaid expenses, and equipment are examples of small-business assets. Lease obligations, short and long-term debt, accounts payable, and income taxes are all examples of liabilities. On a balance sheet, assets equal total liabilities plus owner's equity, so understating liabilities increases assets and owner's equity. This may make the company's financial situation appear more robust. Understating assets reduces profits, making the company appear weaker than it is. On an income statement, understatements have the same effect. On a cash-flow statement, understating liabilities increases cash flow, while understating assets decreases cash flow.
To learn more about liabilities: brainly.com/question/14921529
#SPJ4
unlike other levels of management, these managers spend a fair portion of time supervising the work of their subordinates.
Low-level managers unlike other levels of management, these managers spend a fair portion of time supervising the work of their subordinates.
What is the role played by Low-level managers?Low-level managers prioritize completing tasks and producing results while acting as mentors for the staff they are responsible for. First-line managers must support work-life programs whether or not top management does, as they are the managers who work directly with employees at the lowest level of an organization.
Therefore, Low-level managers unlike other levels of management, these managers spend a fair portion of time supervising the work of their subordinates.
Learn more about Low-level managers:
https://brainly.com/question/28168025
#SPJ4