All categories

2 years ago

Which one of the following groups of accounts only have debit balances

Business

1 answer:

scoray [572]2 years ago

4 0

Answer: b. Sales Returns, Wages, Machinery, Discount Allowed

Explanation:

Sales returns reduce the sales made. Sales are put on the credit side so transactions that will reduce sales such as sales returns would have to go on the debit side.

Wages are an expense and expenses are debited to show they are increasing so they have a debit balance.

Machinery is an asset and assets have debit balances.

Discount allowed reduces the sales balance and as mentioned above, transactions that reduce sales go on the debit side so this has a debit balance as well.

You might be interested in

Michael has been saving his money and wants to invest it. after doing some research, he has decided to invest $20,000 into a cer

ivolga24 [154]

Answer: Micheal will earn an interest of $600 in the first year based on nominal interest rates.

Since we need to compute the interest paid out at the end of year 1, we use the following formula in order to find the interest

$SI = P * N * R$

where

SI = Simple interest

P = Principal or initial amount invested

N = Number of years

R = Nominal interest rate

Nominal interest rate refers to the rate quoted on the CD or the rate agreed upon. In this question, the nominal interest rate is 3%.

Substituting the values in the formula above we get,

$SI = 20000 * 1 * 0.03$

$SI = 600$

8 0

2 years ago

Read 2 more answers

A country produces only one good. It produced 5,000 units of the good during Year 1 and 6,000 units of the good in Year 2. The

Veseljchak [2.6K]

Answer:

.A) $1, 920,000

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

Nominal GDP is the GDP of country using current year prices

Nominal GDP = current year price × quantity

(6000 × 320) = $1,920,000

I hope my answer helps you

3 0

2 years ago

An office management firm has developed a system for efficiently organizing small medical and dental practices both through prop

kolbaska11 [484]

Answer:

achieve economies of scope

Explanation:

Economies of scope -

It is the concept in economics , which is the reduction in the total cost of the production , when some products are produced collectively rather than individually , is known as economies of scope .

Same case is given in the question , where the management have organised medical and dental practices via some unique training program for the staff .

4 0

2 years ago

A stock trading company had the budget for enhancing its secondary datacenter approved. Since the main site is in a hurricane af

marshall27 [118]

Answer:

The correct answer is hot site.

Explanation:

A hot site is a site where a company's operation can take place after a disaster. it is a duplicate of the original site and is situated at an off-premises location. It is a backup site which has all the equipment that is required to continue operations. it is always online and immediately available.

A warm site has lesser equipment than a hot site and requires more time to be operational. A cold site has the least equipment and takes a few days to be operational but is the cheapest alternative.

Since the company here wants the business to resume in the least time it should go for a hot site.

8 0

2 years ago

Artists often use ____________ to create small and intimate works because the paints are easy to carry and only require a glass

Mazyrski [523]

Artists often use WATERCOLORS to create small and intimate works because the paints are easy to carry and only requires a glass of water. Watercolor is made up of pigment in a vehicle of water and gum Arabic, which is a sticky plant substance that acts as the binder. The most common support for watercolor is paper. Watercolors could readily be taken on outdoor sketching expeditions and are particularly preferred by amateur artists.<span />

4 0

3 years ago