Answers
Answer:
Below
Explanation:
The internet of things, or IoT, refers to the connection of devices, such as everyday objects or appliances, to the internet. This allows these devices to send and receive data, and can enable them to be controlled and monitored remotely.
Two examples of everyday devices that are related to the concept of IoT are smart thermostats and smart speakers. A smart thermostat is a device that can be connected to the internet and controlled using a smartphone app. This allows users to adjust their home's temperature remotely, as well as set automatic temperature schedules based on their preferences.
A smart speaker, is another example of an IoT device. These devices can be connected to the internet and controlled using voice commands. They can be used to play music, provide information, and control other smart devices in the home, such as lights or thermostats.
Overall, the concept of IoT refers to the ability of everyday objects to connect to the internet and communicate with each other, enabling greater control and automation of our daily lives.
Related Questions
What items or brands represent Beauty, Luxury, Sophistication and/or Elegance for you? What is appealing to you about these (or what turns you off)? (Bonus points awarded for examples of each one of the following categories) Food & drink Clothing styles Settings & scenery
Answers
The items or brands represent Beauty, Luxury, for you is computer and wrist watches.
What is appealing to you about these?The one that is appealing to me is the different brands of computers.
What are Luxury goods?A luxury good is said to be a good that has the demand to often increases more than what is said to be the income rises.
Hence, The items or brands represent Beauty, Luxury, for you is computer and wrist watches.
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H&R Block Tax Service is an example of which type of business.
a. Manufacturing
b. Wholesale
Retail
d. Service
Answers
Answer:
Service
Explanation:
Unlimited liability for sole proprietors means that
Answers
Answer:
Sole proprietors and partners have unlimited liability. The unlimited liability means that if you're unable to repay the debts of the business, your creditors can go after whatever you own
To address a rise in inflation, a government may
A. invest in programs like unemployment benefits to help people in
need.
B. reduce the amount of money it puts into circulation.
C. lower interest rates to allow businesses to borrow more money.
D. raise interest rates to allow businesses to borrow more money.
Answers
It should be B. I took the quiz.
To address a rise in inflation, a government may reduce the amount of money it puts into circulation.Thus the correct answer is B.
What is inflation?When the prices of goods and services increase during a given period of time which affects the purchasing parity of individuals is known as inflation. This results in an increase in the cost of living in the country as the price rise and gives rise to economic inequality.
To address a rise in inflation, a government may reduce the amount of money it puts into circulation which results in a fall in the prices of goods and services and reduce the inflation rate.
Therefore, option B is appropriate.
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The University of Health Services is predicting the treatment of the COVID -19 Virus
patients. Several new Drugs have been developed and are undergoing trial. Still there is a
question of discovering which drug is better to treat the virus effectively.
Given the above scenario, develop a research design which would help to find the best drug.
Answers
Answer:
A possible research design to find the best drug for treating COVID-19 patients could include the following steps:
Selection of a diverse group of patients who have been diagnosed with COVID-19 and meet the inclusion criteria for the study.Randomization of patients into different treatment groups, with each group receiving a different drug or combination of drugs.Administration of the drugs according to a pre-determined dosing regimen, and monitoring of the patients' symptoms and vital signs on a regular basis.Collection of data on the effectiveness of the drugs, including measures such as time to recovery, hospitalization rate, and mortality rate.Analysis of the data using statistical methods to compare the effectiveness of the different drugs and determine which one is most effective.Use of a placebo group or a standard of care group as controlEnsuring that the study is conducted in a double-blind manner, meaning that neither the patients nor the researchers know which group each patient is in, to reduce bias.Ensure that the study is conducted with the ethical standards in mind and with the necessary approvalsPublishing the results in a peer-reviewed journal for further evaluation and replication.Explanation:
Five welding jobs are waiting to be processed. Their processing times and due dates are given below. Using the critical ratio dispatching rule, in which order should the jobs be processed
Job Processing Time (days) Job due date (days)
A 4 7
B 2 4
C 8 11
D 3 5
E 5 11
Answers
Answer:
Order of processing the jobs:
Job Critical Ratio
C 1.375
D 1.667
A 1.75
B 2.0
E 2.2
Explanation:
a) Data and Calculations:
Job Processing Job due Critical
Time (days) date (days) Ratio
A 4 7 1.75 (7/4)
B 2 4 2.0 (4/2)
C 8 11 1.375 (11/8)
D 3 5 1.667 (5/3)
E 5 11 2.2 (11/5)
b) The critical ratio (CR) dispatching indicates the priority sequencing that should be adopted to process work at a work center. The first process is to create the CR priority index number, which is obtained from the formula of due days divided by the processing days. Therefore, the job with the lowest CR is scheduled first.
An integrated management information system was implemented in the Celestial VIllage Continuum of Care, a 180-bed long-term care facility, owned and operated by a religious order. When Eudora Darling was recruited as manager of administrative systems, she discovered that the technology used in the administrative office was several generations obsolete and that none of the work processes or job functions had been restructured to take full advantage of information technology. Statistics were still being collected manually, and calculations were performed by handheld calculators and adding machines using information from manual entries in daily employee logs. Computer software utilities were available for database management, electronic spreadsheet and statistical functions, and publication quality reporting. However, the jobs and work processes in the department had to be analyzed and restructured before the staff could take full advantage of this technology (which has become standard in other administrative environments).
Required:
a. What issues must Ms. Darling address in achieving effective implementation of the new technology?
b. What outcomes could she reasonably expect to achieve through an effective job analysis process?
c. Should external consultants or internal staff implement this change? Explain your response.
Answers
Analyzing the case, Ms. Darling as manager of administrative systems must address the restructuring of the company, relating the lack of use of technology to the presence of a strong organizational culture.
The results it could achieve through an effective job analysis process would be to increase clarity about the role of each job and department in order to reduce burden on certain employees and optimize task delegation.
To implement this change, external consultants could be hired in order to provide an innovative, unbiased and broader view with a focus on expected results.
What is organizational culture?It is the set of habits, behaviors and values that are learned and shared in a professional environment, generating beliefs and expectations about an organization.
Therefore, implementing new technologies in an organization can generate resistance and must be implemented smoothly and shared with all employees in order to declare the benefits of change for all.
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FILL IN THE BLANK _______ is the process by which future cash flows are adjusted to some equivalent amount today.
Answers
Discounting is the process by which future cash flows are adjusted to some equivalent amount today.
Future cash flows are reduced to a current value that is equal to them through the process of discounting. Discounting, a principle idea in finance is used to determine the present value of future cash flows while accounting for the time value of money.
A dollar obtained in the future is worth less than a dollar received today due to the opportunity cost of holding out for the future cash flow, according to the basic discounting concept. It is simpler to compare future cash flows with other assets and to determine the total worth of an investment when future cash flows are stated in terms of today's dollars by discounting them.
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give the advantages of business partnership structures
Answers
Answer:
Your welcome! Hope you have a nice wonderful day :)
Explanation:
One of the advantages of having a business partner is sharing the labor. Having a partner may not only make you more productive, but it may afford you the ease and flexibility to pursue more business opportunities. It might even eliminate the downside of opportunity costs.
In your opinion, what are the forms of institutional advertising that are suitable for banks in Palestine with examples. Why??
Answers
Answer:
Institutional advertising for banks in Palestine should take into account the cultural sensibilities of the country.
As a muslim country, banks should take into account not only local Palestinian culture, but also general islamic culture when developing their advertising.
Palestine also has complex foreign relationships. Banks should also take this into account in order to create advertising that is effectively catered to the Palestinian people.
essay question business studies describe the following economic issues hiv and aids piracy strikes porverty
Answers
They are problems that come from social/people and economic/money
Businesses face increased costs of finding/recruiting/training replacements.
• The pool of available skilled workers is getting smaller due to the high rate of HIV
infection.
• The costs of finding replacement employees and recruiting are high.
• Business need to invest money in programmes to educate the workers regarding
Costs such as insurance/retirement funds/health/safety are higher as a result of HIV for
the business.
• Businesses face increased costs of paying benefits like housing subsidies, medical care,
funeral care and pension funds.
• Staff morale might be low as they are concerned about their health thus lowering productivity
4.2 Prepare the general journal entries to account for all the transactions that took place from the date that the order was placed on 15 October 2020, up until 1 February 2021. Include dates when preparing the general journal entries. (12 marks)
Answers
To account for all transactions that took place from 15 October 2020 to 1 February 2021, several general journal entries need to be prepared.
On 15 October 2020, the company placed an order for inventory, which is recorded as a purchase on account. The journal entry would be:
Date: 15 October 2020
Inventory (debit) $X
Accounts Payable (credit) $X
On 20 October 2020, the company received the inventory and recorded it in the books. The journal entry would be:
Date: 20 October 2020
Inventory (debit) $X
Accounts Payable (credit) $X
On 1 November 2020, the company made a sale and recorded it as revenue. The journal entry would be:
Date: 1 November 2020
Accounts Receivable (debit) $X
Revenue (credit) $X
On 15 November 2020, the company paid for some of the inventory it purchased on 15 October 2020. The journal entry would be:
Date: 15 November 2020
Accounts Payable (debit) $X
Cash (credit) $X
On 1 December 2020, the company made another sale and recorded it as revenue. The journal entry would be:
Date: 1 December 2020
Accounts Receivable (debit) $X
Revenue (credit) $X
On 31 December 2020, the company realized that some of the inventory was damaged and could not be sold. The journal entry would be:
Date: 31 December 2020
Cost of Goods Sold (debit) $X
Inventory (credit) $X
On 1 January 2021, the company paid for rent for the next six months. The journal entry would be:
Date: 1 January 2021Prepaid Rent (debit) $XCash (credit) $XOn 1 February 2021, the company recorded depreciation expense on its equipment. The journal entry would be:
Date: 1 February 2021Depreciation Expense (debit) $XAccumulated Depreciation (credit) $X
By preparing these general journal entries, all transactions from 15 October 2020 to 1 February 2021 are accounted for in the books.
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The ABC Company is preparing its financial statements on December 31. During the year, they purchased IBM stock for $20,000. On December 31, the market value of the IBM stock is $8,000. The journal entry on December 31 will include a debit to:_______.
Answers
Answer:
Debit to unrealized loss for for $12,000
Explanation:
Based on the information given about ABC Company we were told that the company made a purchased of IBM stock for the amount of $20,000 in which the market value of the stock was the amount of $8,000 this means that the journal entry on December 31 will include a:
Debit to unrealized loss for for $12,000
Calculated as :
Unrealized loss=Market value - IBM stock
Unrealized loss=$8,000-$20,000
Unrealized loss=-$12,000
CSelect the items from this list that are examples of misconceptions.
A high school student is too young to have a budget.
A bank is not a safe place to keep your money.
Buy stock before you have a steady income.
After high school, there is no need to become more educated.
Save your money as soon as you have a full-time job.re the deadline.
Answers
D- there’s is more to learn outside of high school for many careers
probably B too but i’m not sure
Dog Up! Franks is looking at a new sausage system with an installed cost of $520,000. This cost will be depreciated straight-line to zero over the project’s five-year life, at the end of which the sausage system can be scrapped for $83,000. The sausage system will save the firm $154,000 per year in pretax operating costs, and the system requires an initial investment in net working capital of $32,500. If the tax rate is 23 percent and the discount rate is 11 percent, what is the NPV of this project?
Answers
The net present value of the project is $-40,793.30.
What is the net present value?Net present value is a capital budgeting method that is used to determine the profitability of a project. The net present value is the present value of the cash flows expected from the project less the cost of the project.
When using the net present value, a project should only be accepted if its net present value is positive. This is because it means that the project is profitable.
Cash flow from the project = (amount the project will save the firm - depreciation) x (1 - tax) + depreciation
Terminal year cash flow = salvage value + net working capital - tax(salvage value - book value)
Depreciation = (cost of the asset - salvage value) / useful life
($520,000 - 0) / 5 = $104,000
Cash flow from the project = ($154,000 - $104,000)(1 - 0.23) + 104,000
= ($50,000 x 0.76) + 104,000 = $142,000
Terminal year cash flow = $83,000 + $32,500 - (0.23 x $32,500) = $108,025
Net present value can be calculated using a financial calculator:
Cash flow in year 0 = $520,000 + $32,500 = $552,500
Cash flow from year 1 to 4 = $142,000
Cash flow in y ear 4 = $108,025
I = 11%
NPV = $-40,793.30
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The 15-year average return for the S&P 500 from January 1973 to December 2016 (29 separate 15 year periods) was as high as a 20% average annual return and as low as a 3.7% average annual return. Additionally, the average dividend yield for the S&P is 4.11% and the average annual dividend growth rate is 6.11%.
Using this information, please compare the investment in the 5% 15-year corporate bond with a $100,000 investment in a stock with a 3.7% dividend yield (10 percent less than the S&P 500 average yield) and a 3% dividend growth rate (50 percent of the S&P 500 dividend growth rate).
The annual investment returns are as follows:
Year 1 (13.40%) Year 2 (23.37%) Year 3 26.38% Year 4 8.99%
Year 5 3.00% Year 6 13.62% Year 7 3.53% Year 8 (38.49%)
Year 9 23.45% Year 10 12.78% Year 11 0.00 Year 12 13.41%
Year 13 29.60% Year 14 11.39% Year 15 (0.73%)
The bond interest payment of 5 percent is paid annually and not reinvested. To compare accurately with the bond investment, the stock dividend will not be reinvested, but paid annually as well.
Please calculate the value of the stock account at the end of each year and the dividend income from the stock on an annual basis.
Once you have performed the calculations, please let me know if you prefer to invest in a 5% corporate bond for 15 years or the stock and why.
What is the value of the stock after year 2? Year 8? Year 11? When does the annual dividend income of the stock exceed the annual interest income of the bond?
Answers
1. The value of the stock account after Year 2 is $155,401.626.
2. The value of the stock account after Year 8 is $96,110.0674.
3. The value of the stock account after Year 11 is $96,110.0674.
4. The annual dividend income of the stock exceeds the annual interest income of the bond at the end of Year 15.
Bond interest rate: 5%
Stock dividend yield: 3.7% (10% less than S&P 500 average yield)
Stock dividend growth rate: 3% (50% of S&P 500 dividend growth rate)
We'll assume an initial investment of $100,000.
Year 1:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $100,000 + ($100,000 * 0.2337) = $123,370
1. Year 2:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $123,370 + ($123,370 * 0.2638) = $155,401.626
2. Year 8:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $155,401.626 + ($155,401.626 * (-0.3849)) = $96,110.0674
3. Year 11:
Bond interest income: $100,000 * 0.05 = $5,000
Stock dividend income: $100,000 * 0.037 = $3,700
Value of stock account: $96,110.0674 + ($96,110.0674 * 0) = $96,110.0674
4. At the end of Year 15, the dividend income of the stock exceeds the interest income of the bond.
Stock dividend income: $100,000 * 0.037 = $3,700
Bond interest income: $100,000 * 0.05 = $5,000
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David is a licensed agent who typically represents homeowners looking to sell their house. As an agent, David has limited authority when working with clients, and his duties are limited to those outlined in the listing agreement. How would you characterize David's agency relationship?
Answers
The best way to characterize David's agency relationship is:
D. David is a special agent since he is only responsible for one property at a time with limited duties.Who is an Agent?This refers to a person who represents another person and their interests when dealing with the buying or selling of property.
With this in mind, we can see that because David is a licensed agent, he represents homeowners but has limited authority when working with clients and his agency relationship is one that he is a special agent since he is only responsible for one property at a time with limited duties.
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Why is OpenAI recognized for changing the industry?
Answers
OpenAI recognized for changing the industry because it aid:
Online shopping and advertising. Web search.Digital personal assistantsWhat is the purpose and usefulness of artificial intelligence?OpenAI can be described as a research and deployment company that is set up to establish artificial general intelligence benefits to the humanity as a whole.
How the OpenAI can change industry includes;
Help them in term of advertisement to increase profit.Online assistance to reduce number of workers , hence reduce cost.Render web search assistance.Conclusively, OpenAl can use of Digital personal assistants to help industry.
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ook at these two sentences about Undeposited Funds: By posting to Undeposited Funds, you can create a single bank deposit for multiple payments, making it easy ___________. When receiving a payment, make sure _________________.
Answers
Answer:
1. To match your bank register with your bank statement; 2. the Deposit to account is Undeposited Funds
Explanation:
In order to reconcile with the company book accounts to the bank statement. If the posting is to be done in non-deposited funds so it would be develop the bank deposit for multiple payments that could easy for matching also at the time of payment received make sure that the deposit should be undeposited funds
So the same is relevant
The Thakor Corporation’s purchases from suppliers in a quarter are equal to 75 percent of the next quarter’s forecasted sales. The payables period is 60 days. Wages, taxes, and other expenses are 20 percent of sales, and interest and dividends are $90 per quarter. No capital expenditures are planned. Projected quarterly sales are: Q1 Q2 Q3 Q4 Sales $ 2,100 $ 2,400 $ 2,100 $ 1,800 Sales for the first quarter of the following year are projected at $2,430. Calculate the company’s cash outlays by completing the following:
Answers
The calculation of Thakor Corporation’s cash outlays is completed as follows:
Q1 Q2 Q3 Q4
Payment of accounts $1,725 $1,650 $1,425 $1,665
Wages, taxes, other expenses $420 $480 $420 $360
Long-term financing expenses
(interest and dividends) $90 $90 $90 $90
Total $2,235 $2,220 $1,935 $2,115
Data and Calculations:
Q1 Q2 Q3 Q4 Q1
Sales $2,100 $2,400 $2,100 $1,800 $2,430
Purchases $1,800 $1,575 $1,350 $1,823
Payment $1,200 $1,650 $1,425 $1,665
Purchases = 75% of next quarter's sales
Purchases for previous year's quarter = $1,575 ($2,100 x 75%)
Accounts Payable from previous year's quarter is estimated to be $525 ($1,575 x 30/90)
Payments for purchases = $Purchase x 60/90 + previous quarter's balance
Wages, taxes, etc $420 $480 $420 $360
Wages, etc. = 20% of sales
Interest & dividend $90 $90 $90 $90
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1. Some businesspeople believe that elimination agents and wholesalers reduce their operating expenses. Discuss the opportunity costs associated with eliminating intermediaries.
Answers
1. While eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.
Eliminating intermediaries such as elimination agents and wholesalers reduce operating expenses, but it also has associated opportunity costs that businesses need to consider. One of the primary costs is the loss of the expertise and value-added services that intermediaries offer to businesses and customers. Eliminating intermediaries may result in businesses taking on additional responsibilities and expenses such as marketing, distribution, and logistics.
This may result in the need for additional staff and resources to ensure that products reach customers on time. Furthermore, eliminating intermediaries may also result in reduced customer access to products, as intermediaries are often responsible for finding new markets and customer segments. In this case, businesses may need to invest additional resources to market and promote their products to reach new customers.
In conclusion, while eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.
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Which option identifies the concept represented in the following scenario? Winn-Dixie has acquired the nine Gooding's grocery stores in Florida.
- vertical consolidation
- horizontal consolidation
- oligopolistic consolidation
- monopolistic consolidation
Answers
Answer:
oligopolistic consolidation
Answer:
maybe vertical
Explanation:
John is out sick today. Can you take on some of his work? Below are his activities that we need to complete today. How effective is it to submit vendor invoices only?
Answers
Submitting vendor invoices only can be effective in streamlining the accounts payable process and ensuring timely payment to vendors.
Accuracy and Accountability: By focusing on vendor invoices only, the accounts payable team can prioritize the verification and validation of invoices received from vendors. This allows for a more thorough review of the invoices, ensuring accuracy in terms of pricing, quantity, and terms. It also holds vendors accountable for delivering goods or services as per the agreed-upon terms.
Cost Efficiency: By focusing on vendor invoices, the accounts payable team can allocate their time and resources efficiently. This reduces the chances of errors and duplicate payments, leading to cost savings for the organization. It also enables the team to identify any discrepancies or discrepancies in vendor invoices promptly.
Better Vendor Relationships: Timely and accurate payment of vendor invoices improves relationships with suppliers and fosters trust. It helps maintain a positive rapport, which can lead to favorable terms, discounts, and improved service from vendors.
Process Standardization: Focusing on vendor invoices allows for standardization of accounts payable processes. It streamlines the workflow, simplifies the approval process, and ensures adherence to payment policies and procedures. Standardization improves efficiency, reduces errors, and enhances overall control over the accounts payable function.
However, it is important to note that focusing solely on vendor invoices may not capture the complete picture of accounts payable management. Other aspects such as expense reports, employee reimbursements, and other payables should still be monitored and processed accordingly.
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Mr. Dow bought 100 shares of stock at $24 per share. Three years later, he sold the stock for $30 per share. What is his annual rate of return? Use Appendix B for an approximate answer, but calculate your final answer using the financial calculator method. (Do not round intermediate calculations. Round your final answer to 2 decimal places.)
Answers
The initial value is $24 per share, and the final value is $30 per share. Mr. Dow's annual rate of return is 8.33%.
To calculate Mr. Dow's annual rate of return, we need to use the formula:
Annual rate of return = [(final value - initial value)/initial value] / number of years
Here, the initial value is $24 per share, and the final value is $30 per share. So:
Annual rate of return = [($30 - $24)/$24] / 3
= 0.0833 or 8.33%
Using a financial calculator, we can also find the annual rate of return by inputting the following values:
N = 3 (years)
PV = -$2,400 (initial investment)
FV = $3,000 (final value)
P/Y = 1 (payments per year)
Then, we can solve for the interest rate (I/Y) to get:
I/Y = 8.33%
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Your uncle is sole pro-
prietor of a camera shop. You know much more about digital cameras than he does. He is looking for a
partner. What questions would you ask him before you would consider going into business with him?
Answers
Answer:
Does he know managerial and literacy work such as account book keeping, purchase and sale record keeping etc.
Explanation:
Because I will do the sale and purchase of the camera and other technical work myself.
3. Once you turn 18, you should regularly check your credit report...
For errors or signs of identity fraud
To keep an eye on your credit score
To make a plan for improving your credit score
Only if you have a credit card
Answers
Answer:
A - For errors or signs of identity fraud
Explanation:
That is the correct answer, good luck, and have a good day.
During 2018 Carlton network, inc. which designs network servers, earned revenues of $720 million
Answers
Under accrual accounting, the amount of revenue that Farrison Network should report is $720 million.
Revenue reportedBased on the information given the amount of revenue that should be reported for the year is $720 million.
The reason why the amount of $720 million which is the revenue amount that Farrison earned was reported was simply because the principle of revenue states that regardless of when cash was collected revenue amount should be recorded or reported when it has been earned.
Inconclusion under accrual accounting, the amount of revenue that Farrison Network should report is $720 million.
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Current GAAP requires a company to account for a change in accounting estimate that impacts multiple periods during the period of change. the period of change and past periods. the period of change, past periods, and future periods. the period of change and future periods.
Answers
Answer:
Current GAAP requires a company to account for a change in accounting estimate that impacts multiple periods
during the period of change.
Explanation:
Changes in accounting estimates mostly relate to depreciation and bad-debt expenses. While changes in accounting principles, mainly involving inventory valuation and revenue recognition are required to be done retroactively, with affected financial statements restated, changes in estimates are not required to be applied retroactively. No cumulative effect or retrospective adjustment is required in the year of change.
Edward is a salesman of a computer store. He always come up with a low sale every day. He started to think of what seems to be the problem of his selling approaches.
These are some of his lines whenever he offers product to his customers:
“If you don’t buy from me, I’ll lose my job”, “This is the #1 laptop brand around the world” and “By using this computer, you will get smarter”.
What can you say with how Edward offers his product to his customers?
___________________________
Answers
Answer:
he should be telling the truth about the product. using a certain computer wont make ppl smarter.
Explanation:
Record following transactions in General Journal.
1st May 2022:
Peter Klaus started Peter’s Furniture Repair a furniture repair and refinishing business.
by investing Rs. 50,000 in cash.
3rd May:
Paid rent for the month, Rs. 4,000
5th May:
Paid supplies on credit for Rs480
7th May:
Performed services for cash, Rs 990
9th May:
Purchased a used pick-up truck for Rs. 8,500.
28th May:
Paid for supplies bought on May 5th.
29th May:
Withdrew Rs. 600 cash for personal use.
29 May:
Performed services for cash Rs 1,075
30th May:
Paid utility bill for Rs 360
31st May:
Performed services for cash Rs 300
Answers
The following transactions in General Journal 3 may: Rent. 4000, Cash. 4000
5 May: Supply. 480, cash. 480
7 may: Services 990, cash 990
Briefing:-9 may: Pick up truck 8500, Cash. 8500
28 may: Supplies. 480, Cash. 480
29 may: Service 1075, Cash. 1075
30 may: Bill 360, cash 360
31 may: service 300, cash 300
Describe general transaction.Transactions done to sub-ledger accounts as journal entries are summarized in general ledger transactions. Every general ledger account and its balance are listed in the trial balance report, making modifications and errors easy to see.
What does a general journal transaction mean?The accounting record-keeping system includes the general journal. A transaction is a required recording of an occurrence that must be kept track of; it can be made in either the general journal or a specialty journal.
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