The account used to record increases in owner's equity from the sale of goods or services is the __________ account. 1. revenue
2. Cash
3. capital
4. drawing

Answers

Answer 1

Answer: Your question is confusing
but i guess its cash (or capital )

Related Questions

1. which of the following represents the correct order of the four steps included in the framework for ethical decision making? identify issues, gather information and identify stakeholders, brainstorm and evaluate alternatives, choose a course of action identify issues, brainstorm and evaluate alternatives, choose a course of action and gather information and identify stakeholders brainstorm and evaluate alternatives, identify issues, gather information and identify stakeholders and choose a course of action choose a course of action, identify issues, gather information and identify stakeholders, and brainstorm and evaluate alternatives 2. step 2 of the ethical decision making framework involves . choosing a course of action that generates the best solution gathering facts that are important to the ethical issue coming together to brainstorm any alternatives weighing the various alternatives 3. in the ethical decision-making framework, brainstorming for alternatives takes place . after a course of action has been chosen before any other step in the process after stakeholders have been identified and information has been gathered only if issues cannot be identified 4. the last step of the ethical decision-making framework involves . weighing the various alternatives coming together to brainstorm for alternatives identifying any problems that exist choosing a course of action that generates the best solution
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Greg is the owner of a full-service car wash. For the month of December he paid $2,000 in rent, $700 in utilities, $2,950 in salaries, and $50 on advertising. A full service car wash costs $10.50. Unit variable costs per car wash are $2.50. How many full-service car washes does Greg need to sell to break-even each month

Answers

Answer:

Break-even point= 713 car washes

Explanation:

Giving the following information:

For December he paid $2,000 in rent, $700 in utilities, $2,950 in salaries, and $50 on advertising. A full-service car wash costs $10.50. Unit variable costs per car wash are $2.50.

First, we need to calculate the total fixed costs:

Fixed costs= rent + utilities + salaries + advertising

Fixed costs= 2,000 + 700 + 2,950 + 50= $5,700

Now, using the following formula, we can calculate the break-even point in units:

Break-even point= fixed costs/ contribution margin

Break-even point= 5,700/ (10.5 - 2.5)= 713 car washes

Benet Division of United Refinery Company's operating results include: controllable margin, $200,000; sales $2,200,000; and operating assets, $800,000. The Benet Division's ROI is 25%. Management is considering a project with sales of $100,000, variable expenses of $60,000, fixed costs of $40,000; and an asset investment of $150,000. Should management accept this new project?

Answers

Answer:

Explanation:

As we know that

Return on investment = Net income ÷ Investment

where,

Net income is

= Sales - variable expense - fixed cost

= $100,000 - $60,000 - $40,000

= $0

And, the asset investment is $150,000

So, the return on investment is

= $0 ÷ $150,000

= 0%

The required return on investment is 25%

So, the new project should not be accepted as the return on investment is 0%

An economy in which all the boys become farmers when they are adults, just as their fathers and grandfathers did, would be an example of aA. free market economy
B. command economy
C. traditional economy
D. centrally planned economy

Answers

An economy in which all the boys become farmers when they are adults, just as their fathers and grandfathers did, would be an example of a C.) TRADITIONAL ECONOMY.

Traditional Economy has the 3 characteristics:
1) Based on agriculture, fishing, hunting, gathering or a combination of any of the 4 afore-mentioned basis.

2) Guided by tradition.

3) Uses barter of goods instead of exchange of money.

Brian wants to buy a mare that he can breed to help develop a horse operation. Larson offers to sell Brian a horse that Larson believes is healthy and should make a good broodmare when a little older. After two years, the horse still has not foaled. The veterinarian tells Brian that the horse is incapable of breeding. If Brian sues to rescind the contract with Larson, it isa. likely that a court will allow the rescission based on a unilateral mistake. b. unlikely that a court will allow rescission based on a mistake of fact. c. likely that a court will allow the rescission based on a mistake of fact. d. unlikely that a court will allow rescission, because Brian made a mistake about market value.

Answers

Answer:

The correct answer is C: likely that a court will allow the rescission based on a mistake of fact.

Explanation:

Brian was not aware of that fact that the horse is incapable of breeding at the point he buys it, but Larson assures Brian the horse is healthy. In this light, if Brian sues to cancel the contract with Larson, the court will allow it based on a mistake of fact. This way the court will reduce any civil liability or criminal culpability because Larson might not know that the horse cannot breed, although he is certain that the horse is healthy.

Slider processes rebate requests for a large building supply firm. Slider processed 420,000 rebates in March. All rebates are processed the same day they are received. March costs were labor of $28,000 and overhead of $14,000. What is the cost to process 1,000 rebates?

Answers

Answer:

process cost for 1000 rebate = $100

Explanation:

given data

rebates = 420,000

costs labor = $28,000

overhead = $14,000

to find out

cost to process 1,000 rebates

solution

first we get here total cost process that is express as

total cost process = costs labor + overhead .............1

total cost process = $28000 + 14000

total cost process = $42000

and process cost per rebate will be here as

process cost per rebate = $(42000)/(420000)$

process cost per rebate = 0.10

so process cost for 1000 rebate will be as

process cost for 1000 rebate = 0.10 × 1000

process cost for 1000 rebate = $100

Accrued liabilities are obligations for which there is noexternal transaction. Select one: True False

Answers

The statement "Accrued liabilities are obligations for which there is no

external transaction" is FALSE because accrued liabilities are obligations that a company has incurred but has not yet paid for or recorded.

Accrued liabilities, also known as accrued expenses, represent a company's financial obligations that have been incurred but not yet recorded in its financial statements or paid.

They are a result of the accrual accounting method, which requires revenues and expenses to be recognized when they are earned or incurred, rather than when cash is received or paid.

These liabilities typically represent expenses that have been incurred but not yet invoiced or paid, such as wages, interest, or taxes. Although there may not be an external transaction that has occurred (like receiving an invoice), accrued liabilities still represent real obligations that the company is responsible for paying.

Learn more about Accrued liability here:

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