For each of the following accounts indicate the effects of a debit and a credit on the accounts and the normal balance of the account
Answers
For each of the following given accounts we have to indicate the effects of a debit and a credit on the accounts & the normal balance of the account.
a. Accounts Payable:
Debit Effect - Decrease
Credit Effect - Increase
Normal balance of the Account - Credit
b. Advertising Expense:
Debit Effect - Increase
Credit Effect - Decrease
Normal balance of the Account - Debit
c. Service Revenue:
Debit Effect - Decrease
Credit Effect - Increase
Normal balance of the Account - Credit
d. Accounts Receivable:
Debit Effect - Increase
Credit Effect - Decrease
Normal balance of the Account - Debit
e. Retained Earnings:
Debit Effect - Decrease
Credit Effect - Increase
Normal balance of the Account - Credit
f. Dividends:
Debit Effect - Increase
Credit Effect Decrease
Normal balance of the Account - Debit
Debit Balance = Expenses and assets like cash, accounts receivable, inventory, and so on are increased by debits and decreased by credits.
Credit Balance = Credits increase and debits decrease credit balances such as revenue, share capital, retained earnings, liabilities such as accounts payable, debt, and so on.
Hence, the effects of a debit and a credit on the accounts and the normal balance for each of the accounts is given above.
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Related Questions
You scheduled a meeting with your banker to discuss your findings. How will you fine-tune your product to incorporate your market research?
Answers
Answer:
5 Simple Steps to Fine-Tune Your Digital Marketing Planwww.convinceandconvert.com › digital-marketing › fi...
Were results good, targets met, and goals achieved? Or did your plan totally miss the mark? If you don't review what you did, how will you know what worked
Explanation:
Having connectivity and visibility to all partners in a firm's supply chain can be accomplished through the use of: a. Cloud-based communication systems b. Legacy MRP systems c. Mobile Marketing d. Score-carding systems
Answers
Having connectivity and visibility to all partners in a firm's supply chain can be accomplished through the use of: a Cloud-based communication systems.
What is Cloud-based communication systems?Cloud- based communications system can be defined as the way of using internet to communicate or transmit data.
Most companies tend to make use of cloud communication to communicate by making internet phone calls and this is normally done by a hosting service which serves as a third party.
Inconclusion having connectivity and visibility to all partners in a firm's supply chain can be accomplished through the use of: a Cloud-based communication systems.
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HELP
When a company/economy is making money,
how does the demand curve shift?
B. down
A. up
D. to the left
C. to the right
Answers
Answer:
It's A, The demand curve shifts up
Explanation:
It goes up
how can a police department determine what knowledge, skills, and abilities (ksas) they want in a person they are interested in hiring?
Answers
The legal expertise of the police department is evaluated, including its understanding of judicial processes and governmental rules. understanding of security and public safety. that keep individuals safe.
What character traits might be crucial for prospective police officers?Police officer characteristics and competencies include Exercise, critical thinking, good judgment, problem-solving abilities, and communication abilities, interpersonal abilities, moral integrity, and an ethical sense.
What are the four criteria that police employ when deciding whether to use force?The justification and reasonableness of force, officer training in the use of force, departmental culpability in the use of force, the reasons why certain officers are reluctant to use deadly force, and how hesitation to use deadly force may be addressed, are some of these variables.
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You observe that the yield on US Treasury bonds increases. Which of the following could have caused the increase in yield? (Mark ALL that apply.) The Federal Reserve announced that they will probably start increasing interest rates at the end of the year, which is sooner than what investors expected previously. The Federal Reserve increased interest rates a week earlier, and the market is now catching up. A new technology was just developed that makes it easier to use Bitcoin to pay when buying goods and services. New inflation data showed an uptick in prices and increased expectations of future inflation. New data just published showed that the chances of the economy falling into a recession increased, and thereby increased the risk of corporate defaults.
Answers
The increase in yield on US Treasury bonds could have been caused by the Federal Reserve's announcement of an upcoming interest rate hike and new inflation data showing an uptick in prices.
Yield on US Treasury bonds is a measure of the return investors can expect from investing in these bonds. When yields increase, it means investors are demanding higher returns for their investments. Several factors could have caused the increase in yield, including the Federal Reserve's announcement of an upcoming interest rate hike earlier than expected and new inflation data showing an uptick in prices and increased expectations of future inflation.
The announcement of an interest rate hike increases the cost of borrowing for businesses and individuals, which could lead to lower demand for bonds and higher yields. Higher inflation expectations also increase the risk of holding bonds, leading investors to demand higher returns. Other factors, such as market expectations of a recession or corporate defaults, could also affect investor demand and bond yields.
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A group's __________ are the things group members do and say to meet their own needs or objectives at the expense of the team.
Answers
A group's dysfunctional behaviors are the things group members do and say to meet their own needs or objectives at the expense of the team.
Dysfunctional behaviors in a group can have a negative impact on the overall performance and productivity of the team. These behaviors can include things like not listening to others, being overly competitive, blaming others for mistakes, withholding information, and engaging in personal attacks or conflict. Dysfunctional behaviors can arise when there is a lack of trust, unclear roles and responsibilities, poor communication, or a lack of commitment to the team's goals. It is important for team members to recognize and address these behaviors in order to improve team dynamics and achieve better results. This can be done through open and honest communication, setting clear expectations, providing feedback, and working together to find solutions to problems.
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There are two basic kinds of credit cards. The typical credit card is based on a/an [ Select ] that is set by [ Select ] , and it is linked to your [ Select ] or personal request. The second kind of credit card is a [ Select ] and it is more like a [ Select ] because it is directly tied to a checking or savings account. All limits for this card are based on your [ Select ] instead of an approved limit.
Answers
Debit cards typically pull funds from a checking account, while credit cards charge purchases using a line of credit.
What type of credit is a credit card an example of?A credit card generally operates as a substitute for cash or a check and most often provides an unsecured revolving line of credit. The borrower is required to pay at least part of the card's outstanding balance each billing cycle, depending on the terms as set forth in the cardholder agreement.credit limitthe sponsoring financial institutioncredit ratingsecured carddebit cardaccount balanceA financial sponsor is a private-equity investment firm, particularly a private equity firm that engages in leveraged buyout transactions.A credit rating is a quantified assessment of the creditworthiness of a borrower in general terms or with respect to a financial obligation. Unlike a prepaid card, a secured card is an actual credit card that reports to the three major credit bureaus—providing the opportunity to build your credit, with responsible use.When you open a checking account at a bank or credit union, you usually get a debit card. A debit card lets you spend money from your checking account without writing a check. When you pay with a debit card, the money comes out of your checking account immediately.An account balance represents the available funds, or current account value, of a particular financial account, such as a checking, savings, or investment account.
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Which descriptions offer examples of Management workers? Check all that apply. Roger sells a company’s product to customers. Arthur supervises a small department of Administrative workers. Bridget documents a company’s financial activities and creates reports. Whitney oversees others, makes decisions, and runs a company.
Answers
Answer:
The answer is B&D
Answer:
b & d
Explanation: got it wrong the first time and this is the right answer lol
High-profile accounting scandals and the global financial crisis are examples of ___.
Answers
High-profile accounting scandals and the global financial crisis are examples of companies and industries that did not conform to business ethics.
What is business ethics?The rules for ethically correct and wrong behavior in company are referred to as business ethics. However, "legal" and "ethical" are not always identical. Law in part defines behavior. By defining permissible practices outside of the purview of the state, business ethics strengthen the law.
What is the business ethics tenet?The field includes loyalty, fairness, respect, trustworthiness, and technological ethics. It also includes corporate responsibility, personal responsibility, and social responsibility. It places a strong emphasis on employee retention, brand image, and consumer loyalty.
How can business ethics be improved?Engage, talk to, and educate your staff. Utilize effective and educational communication to involve employees as well as other stakeholders, including suppliers, investors, regulators, and customer groups. An ethical culture will be ingrained thanks to effective, consistent, and regular communication and training.
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the divergence between money costs and opportunity costs is the least in which of the following situations? colleen quits her job to stay at home and raise her children. a university, using a private contractor, builds a field house on land it purchased at full market value from a local farmer. wilhelm, an engineer at exxon, is drafted-his army salary is $2,000 per month. china uses millions of otherwise unemployable workers to build roads with picks and shovels.
Answers
The situation in which the divergence between money costs and opportunity costs is least is when a university, using a private contractor, builds a field house on land it purchased at full market value from a local farmer. In this case, the money costs incurred by the university align with the opportunity costs, resulting in a minimal divergence between the two.
In this situation, the costs incurred by the university, such as the purchase of land and the fees paid to the private contractor, directly reflect the money costs. The opportunity costs, on the other hand, are relatively low because the university is utilizing its resources (money and land) in a way that aligns with its primary purpose of providing facilities for its students and community.
The opportunity cost of using the land and funds for the field house is minimal as it is being utilized for its intended purpose rather than being foregone for other potentially more valuable alternatives.
The situation in which the divergence between money costs and opportunity costs is least occurs when a university builds a field house on land purchased at full market value from a local farmer. In this case, the money costs incurred by the university align with the opportunity costs, resulting in a minimal divergence between the two.
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Explain
why military/political leaders opted to target cities and other
civilian targets and describe the impact of such strategies on
civilian populations. To answer this question, you'll find it
hel
Answers
Military and political leaders have historically targeted cities and civilian targets as part of their war strategies, often to instill terror and force the enemy into surrender.
These actions aimed to weaken the adversary's morale, disrupt their infrastructure, and obligate them to allocate resources towards protecting their civilians.
The impact of targeting civilian populations can be devastating, causing pain, suffering, and displacement.
Psychological effects play a significant role in this approach, as the fear and feeling of helplessness instilled in civilians can weigh heavily on their mind, potentially influencing their judgment and support for the war effort.
Additionally, these tactics often result in a significant loss of life, hurt innocent people, and destroy communities.
However, such strategies also come with the risk of being considered war crimes, as they go against the principles of humanity and the rules of engagement in armed conflicts.
Throughout history, targeting civilian populations has generated controversy and condemnation, reinforcing the importance of ethical conduct during wartime.
In conclusion, military and political leaders have targeted cities and civilian populations as part of their war strategies to weaken the enemy's morale and force them to surrender.
However, the devastating impact on innocent lives, the psychological effects on those affected, and the potential for war crimes necessitate the reevaluation of such tactics.
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What is the last step in the home buying process quizlet?
Answers
The loan and home closing is the last step in the home buying process.
Close the sale :
At closing, you will sign all of the paperwork required to complete the purchase, including your loan documents. It typically takes a couple of days for your loan to be funded after the paperwork is returned to the lender. Once the check is delivered to the seller, you are ready to move into your new home.
Some of the steps involved in buying new home :
Step 1: Start Your Research Early
As soon as you can, start reading Web sites, newspapers, and magazines that have real estate listings. Make a note of particular homes you are interested in and see how long they stay on the market. Also, note any changes in asking prices. This will give you a sense of the housing trends in specific areas.
Step 2: Determine How Much House You Can Afford
Lenders generally recommend that people look for homes that cost no more than three to five times their annual household income if the home buyers plan to make a 20% down payment and have a moderate amount of other debt.
Step 3: Get Prequalified and Preapproved for credit for Your Mortgage
Before you start looking for a home, you will need to know how much you can actually spend. The best way to do that is to get prequalified for a mortgage.
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Which of the following statements is FALSE? A. Preferred stock cannot be converted into common stock. B. Preferred stock usually has a stated or par value but unlike bonds, this par value is not repaid at maturity because preferred stocks do not have a maturity date. C. The only time the par value of preferred stock would be paid to the shareholder is if the company ceases operations or retires the preferred stock. D. Skipped preferred dividends become a liability of the company.
Answers
Answer:
c
Explanation:
nal Accounts Section Sales Cost of sales Rent income Interest on fixed deposit Directors' fees Salaries and wages Bad debts Audit fees Bank (ts) Advertising Consumable stores A. Sundry expenses Ordinary share dividends ADJUSTMENTS AND ADDITIONAL INFORMATION: 750 000 15 450 000 1 230 000 1315 150 24 000 147 600 975 000 80 800 560 000 368 20 Selling prices are determined by using a mark-up of 40% on cost Note: Trade discounts of R130 000 were allowed to special customers the financial year. in me paffo Sales. How are sales calculated
Answers
The overall sales for the fiscal year are 21,500,000, according to the information provided.
What is the fiscal year?A fiscal year is a 12-month period used by businesses and governments for financial reporting and budgeting purposes. It does not necessarily coincide with the calendar year and can start on any date. The fiscal year is used to report financial results and tax obligations to the government, and it is important to follow it accurately to ensure that all financial reporting is consistent and accurate.
Based on the information provided, the total sales can be calculated as follows:
The total cost of sales = 15,450,000
Markup on cost = 40%
Total markup = 40% of 15,450,000
= 6,180,000
The total cost of goods sold (COGS) = Total cost of sales + Total markup
= 15,450,000 + 6,180,000
= 21,630,000
To calculate the total sales, we need to subtract any discounts given to customers from the COGS:
Total sales = Total cost of goods sold - Trade discounts
= 21,630,000 - 130,000
= 21,500,000
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What policy document provides guidelines to promote information sharing?.
Answers
The policy document provides guidelines to promote information sharing is DoD Manual 5200.01, Volumes 1 and 2
What is information sharing?The policy that promote information sharing, certain guidelines must be followed in DoD Manual 5200.01, Volumes 1 and 2, when classifying and marking information.
The DoD Manual does the following:
Provides guidance for the correct marking of information.Promote information sharing.Facilitate judicious use of resources.Therefore, the policy document that provides guidelines to promote information sharing is contained in the DoD Manual 5200.01, Volumes 1 and 2
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Please help:) If possible:)
Answers
Which is often considered the most difficult yet most effective communication technique?
Answers
The most challenging yet most powerful form of communication is silence.
In recent years, experts have argued that silence is not just the absence of sound or that it doesn't mean "nothing," but rather that it is an essential component of communication on par with speech. The meaning and impact of silence are determined by the situation's context. A conversation or discussion advances when there is productive silence.
Destructive silence prevents communication from happening and puts up obstacles that make it difficult for speakers to express their ideas. Such pauses can be effective instruments for improving communication as well as for advancing and preserving the current relationship.
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HELP PLSSS
Define what an "industry credential" is in relation to Career Technical Education.
•
Then explain
2 important reasons for acquiring industry credentials (also called technical certifications).
•
Your answer should include BOTH the definition and two reasons for acquiring them.
•
1. Definition of Industry Credential:
•
2. Two reasons for acquiring industry credentials or technical certifications:
Answers
Answer:
1. is a qualification or level of competence that is authorized by a relevant third party to the specific qualification. It's usually in written form.
2. a- Gain work experience of the candidate.(eg occupational credentials) hence increasing earning capability.
b- Gain knowledge and proffessional skills that amounts to increase in competency lvls.
What has the greatest potential to demotivate you and lead you to unproductive activities?
Answers
Answer:
David is a HR generalist
Explanation:
A good credit rating will cause your mortgage interest rate to be:
A. Higher
B.
Lower
C.
Fixed
D.
Variable
Reset
Next
Answers
Answer:
B
Explanation:
If your credit rating is good it should be lowered, it makes sense.
1. A U.S. company anticipates that it will sell merchandise for €100,000 at the end of August and receive payment for it at the end of October. On May 1, when the spot rate is $1.20 and the forward rate for delivery on October 31 is $1.21, the company enters a forward contract to sell €100,000 on October 31. The forward contract qualifies as a cash flow hedge of the forecasted sale. The company sells the merchandise on August 30, when the spot rate is $1.232 and the forward rate for October 31 delivery is $1.23 and receives payment of €100,000 and closes the forward contract on October 31, when the spot rate is $1.24. The company has a December 31 year-end. What is the net exchange gain/loss for the year related to this transaction? A. $200 net gain B. $1,800 net loss C. $200 net loss D. $-0-
Answers
Answer:
C. $200 net loss
Explanation:
The net loss or gain is calculated on hedging to determine whether the hedge has been beneficial for the company or not. Hedging is a process to transfer exchange rate movement risk. This is usually suitable for the companies who have receipts or payments in foreign currencies.
The hedging gain loss can be calculated as:
Forward rate at the time of contract - spot rate today
$1.21 - 1.232 = 0.0232
How does the market system develop methods for analyzing and managing risk?.
Answers
Answer:
Explanation:
By presenting businesses with the economic consequences of their decisions
PLEASE HELP ASAP::::
A tip employee’s earnings most closely resemble those of which of the following?
a.
An employee working on straight commission
b.
An employee working on commission plus salary
c.
An employee working on a piece-rate basis
d.
An employee working on a fixed salary
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer: c. An employee working on a piece-rate basis
fashooo
Tore Company's records reveal the following information regarding its inventory. Beginning inventory was $100,000 at cost and 160,000 at retail. Purchases during the year were $300,000 at cost and $500,000 at retail. Markups were $10,000 and markdowns, $20,000. Assuming the conventional retail method is used and net sales were $500,000, ending inventory at retail would be (round the cost-to-retail percentage to two digits after the decimal point)
Multiple choice question.
a) $160,000.
b)$150,000.
c)$170,000.
Answers
Assuming the conventional retail method is used, and net sales were $500,000, ending inventory at retail would be option (b) $150,000.
To calculate the ending inventory at retail using the conventional retail method, follow these steps:
1. Determine the cost of goods available for sale at retail:
Beginning inventory at retail ($160,000) + Purchases at retail ($500,000) + Markups ($10,000) - Markdowns ($20,000) = $650,000
2. Calculate the cost-to-retail percentage:
(Beginning inventory at cost ($100,000) + Purchases at cost ($300,000)) / Cost of goods available for sale at retail ($650,000) = 0.62 (rounded to two decimal places)
3. Determine the ending inventory at retail:
Cost of goods available for sale at retail ($650,000) - Net sales ($500,000) = $150,000
The ending inventory at retail is $150,000.
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a purchased intangible is valued at its original cost. original cost for acquiring a patent would include:
Answers
Answer: Legal costs to acquire, Required filing fees, Purchase price
Explanation:
Your company is bidding on an office building. The estimated construction costs are as follows: Labor =$985,466 Materials =$1,091,256 Equipment =$100,754 Subcontractor's bids =$6,254,800 Your company marks up labor and materials 15 percent, equipment 20 percent, and subcontractor's bids 4 percent to cover main-office overhead and profit. What is your company's bid for the project?
Answers
Your company marks up labor and materials 15 percent, equipment 20 percent, and subcontractor's bids 4 percent to cover main-office overhead and profit. The company's bid for the project would be $8,432,276.10.
The bid for the project would be the sum of the estimated costs, including the markup percentages for labor, materials, equipment, and subcontractor's bids. To calculate the bid for the project, we need to apply the respective markup percentages to the estimated costs.
The labor cost of $985,466 would be marked up by 15 percent, resulting in an additional amount of $147,819.90. The materials cost of $1,091,256 would also be marked up by 15 percent, yielding an additional amount of $163,688.40.
Similarly, the equipment cost of $100,754 would be marked up by 20 percent, resulting in an additional amount of $20,150.80. The subcontractor's bids of $6,254,800 would be marked up by 4 percent, resulting in an additional amount of $250,192.
Adding up these markup amounts to the estimated costs gives us a total markup of $581,851.10. To determine the bid for the project, we add this markup to the sum of the estimated costs:
Bid = (Labor + Materials + Equipment + Subcontractor's bids) + Total Markup
= ($985,466 + $1,091,256 + $100,754 + $6,254,800) + $581,851.10
= $8,432,276.10
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What programs did Huey Long support when he was governor of Louisiana?
Answers
When Huey Long was governor of Louisiana, he was a champion of the people. He supported a variety of programs to help the people of Louisiana, including increasing funding for public education, providing grants for small businesses, and introducing a range of social security measures.
He also built a number of public works projects, such as roads, bridges, and hospitals, to improve the infrastructure of the state. His commitment to the people of Louisiana made him a beloved leader, and his legacy lives on today.
Huey Long implemented several programs and initiatives to help improve the lives of Louisiana's citizens. These included the creation of free public schools, free textbooks for schoolchildren, a free night school for adults, a free health care system, and a pension system for the elderly. Long also raised taxes on the wealthy, improved labor laws, and established the Louisiana Rural Credit Corporation, which provided low-interest loans to farmers.
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Answer:
When Huey Long was governor of Louisiana, he was a champion of the people. He supported a variety of programs to help the people of Louisiana, including increasing funding for public education, providing grants for small businesses, and introducing a range of social security measures.
Explanation:
Determine the engineering management tools needed for designing an
engineering services delivery plan. The engineering management tools may include problem analysis and
decision-making, risk manageme
Answers
Engineering management tools for designing an engineering services delivery plan include problem analysis, decision-making, and risk management.
When designing an engineering services delivery plan, several engineering management tools are crucial. Firstly, problem analysis helps identify the key challenges and issues that need to be addressed in the plan. This involves gathering data, conducting assessments, and employing analytical techniques to understand the problem space.
Secondly, effective decision-making tools are necessary to evaluate various options and make informed choices. Decision matrices, cost-benefit analysis, and decision trees can aid in selecting the most appropriate strategies and actions.
Lastly, risk management tools are essential for identifying, assessing, and mitigating risks associated with the delivery plan. This includes risk identification techniques, such as SWOT analysis and failure mode and effects analysis (FMEA), as well as risk mitigation strategies like contingency planning and risk monitoring.
By utilizing these engineering management tools, organizations can develop comprehensive and effective engineering services delivery plans.
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Select the correct answer from the drop-down menu.
Which option is an example of verbal communication?
A --------- is an example of verbal communication.
smile
letter
handshake
Answers
Answer:
its a .............................letter
Explanation:
A handshake is an example of verbal communication. Thus, option C is correct.
What is verbal communication?Verbal communication is when you or another person speaks out while expressing yourself verbally. However, nonverbal communication is the exchange of information through actions, reactions on the face, and facial expressions.
When you shake hands with someone, you are expressing your warm welcome and full focus. We communicate nonverbally to convey our intentions, identities, beliefs, and various cultural approaches.
Nonverbal communication includes gestures like signaling, winking, hand-shaking, physical separation, and emotions on the face, among others. This is a major change that comes in the way a person is communicating.
Therefore, option C (handshake) is the correct option.
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Which characteristic best describes organizational buying?
A The market contains huge numbers of buyers.
B. Buying is informal in nature.
C.The sales cycle is often very short.
D. Sellers regularly offer customized products.
Answers
Answer:
A
Explanation:
I'm pretty sure cause The market contain huge numbers of buyers
Answer:
A. The market contains huge numbers of buyer