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3 years ago

Complete the following statements using either "debit" or "credit":

Business

1 answer:

Gekata [30.6K]3 years ago

4 0

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

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Sandhill Corporation loaned $590000 to another corporation on December 1, 2020 and received a 3-month, 6% interest-bearing note

Oksi-84 [34.3K]

Answer: Debit Interest Receivable and credit Interest Revenue, $2950

Explanation:

Based on the information given in the question, we have to calculate the interest accrued and this will be:

= $590,000 × 6% × 1/12

= $590,000 × 0.06 × 0.08333

= $2949.882

= $2950 approximately

Therefore, the adjusting entry that Sandhill should make on December 31, 2020 will be to:

Debit Interest Receivable and credit Interest Revenue, $2950

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2 years ago

For an attributes sampling plan, the tolerable deviation rate is 4%, the computed upper deviation rate is 7%, the sample deviati

GuDViN [60]

Answer: D. The auditor is likely to increase control risk because the computed upper deviation rate is greater than the tolerable deviation rate

Explanation: For this scenario, the only true option is that, the auditor is likely to increase control risk because the computed upper deviation rate is greater than the tolerable deviation rate.

Attributed sampling states that items being sampled will either or won't possess certain attributes or quantities.

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2 years ago

________ refers to all of the methods, policies, and organizational procedures that ensure the safety of the organization's asse

lilavasa [31]

Answer:

The correct answer is d) Controls

The goal of Control in an organization is making sure that the company's procedures meet the required criteria of a particular standard. A company needs to have accounting standards, production standards, and management standards, and it is through control processes that those standards are met.

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2 years ago

Mexican american farm workers in california organized ________ to demand higher pay from their employers

KengaRu [80]

The United Farm Workers union

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2 years ago

A company with 110,000 authorized shares of $8 par common stock issued 49,000 shares at $13. Subsequently, the company declared

Jet001 [13]

Answer:

$29,400

Explanation:

The company will distribute dividends only to outstanding shares, since the number of outstanding shares is not specified, we should assume that all the 49,000 shares issued are outstanding shares. The company declared a 2% dividend, so we must multiply the current value of the stock times 2% = $30 x 2% = $0.60 per share.

The total amount distributed was 49,000 outstanding shares x $0.60 per share = $29,400

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2 years ago