This is a table that could be used to maintain a record of account transactions. it is similar to what is found in a checkbook
ledger. some of its column headings are missing. how should these columns be labeled?

balance, transaction code, description

check number, description, balance

transaction code, balance, notes

description, check number, balance

The correct answer is B) Check Number, Description, Balance.

This is a table that could be used to maintain a record of account transactions. It is similar to what is found in a checkbook

ledger. Some of its column headings are missing. These columns should be labeled as Check Number, Description, Balance.

One of the most important things you have to do in your business if you want to maintain proper control of the daily transactions is to have a record account of each of them. You could say that is the job of an accountant and it is, but you have to oversee that all transactions are recorded to know how your business is doing and pay the proper taxes. Many new businesses fail because they do not keep a proper recording system.  

Net income under variable costing= $50,000

Explanation:

The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.

We need to deduct to the net income of the absorption costing method, the fixed manufacturing overhead allocated into ending inventory.

Unitary fixed overhead= 50,000 / 20,000

Unitary fixed overhead= $2.5

Net income under variable costing= 55,000 - (2,000*2.5)

Net income under variable costing= $50,000