All categories

2 years ago

Carrie billed her legal clients $6,000 for legal work completed during the month. This

1 answer:

Citrus2011 [14]2 years ago

7 0

The fact that Carrie billed her legal clients an amount of $6,000 for legal work means that the transaction will cause a $6,000 increase in assets and revenues.

<h3>What is the effect of service revenue?</h3>

When a person receives service revenue like Carrie did when she billed her clients, this would increase the revenue amounts to the company.

Revenues would therefore increase which means that equity increases as well because revenues are the main source of net income, which become retained earnings, which is an equity account.

When equity increases, assets will have to increase which will happen here because Carrie will treat her clients as Accounts receivable which is considered an asset.

In conclusion, option B is correct.

Find out more on recording service revenue at brainly.com/question/15407046.

#SPJ1

You might be interested in

Using the Internet, locate a list of the top tourist destinations in the United States. Use photos from these destinations (one

Licemer1 [7]

Answer:

Can't add, pictures, unfortunately. But I think some top destinations are:

NY, (Manhattan),

Las Vegas, Nevada

Los Angeles, California

San Francisco, California

Orlando, Florida

Miami, Florida

Atlantic City, New Jersey

Philadelphia, Pennsylvania

Grand Canyon, Arizona

Edit: add Seattle, Washington

add Chicago, Illinois

[THIS LIST IS NOT IN ORDER}

<h2><u>PLEASE MARK BRAINLIEST!</u></h2>

4 0

3 years ago

Read 2 more answers

Suppose that the equilibrium wage for teachers in Michigan is $15/hour. Also suppose that Michigan raises its minimum wage to $1

expeople1 [14]

Answer:

a) lower than

decrease

Surplus

Explanation:

The question isn't complete. Here is the full question:

Suppose that the equilibrium wage for teachers in Michigan is $15/hour. Also suppose that Michigan raises its minimum wage to $18/hour. Because the equilibrium wage for teachers is (a) lower than or higher than the new minimum wage, we would expect the number of teachers employed to (b) increase, decrease, or stay the same at the new minimum wage. there will be (c) a shortage, a surplus, or no change in the number of teachers.

The equilibrium wage ($15) is less than the new minimum wage ($18).

As a result of this, it would become more expensive for schools to hire teachers, as a result the demand for teachers would fall. This is in line with the law of demand which states that the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

Also, because the minimum wage is above the Equilibriium price , the supply of teachers would increase. This would lead to a surplus in the number of teachers. This is in line with the law of supply which states that the higher the price, the higher the quantity supplied and the lower the price , the lower the quantity supplied.

I hope my answer helps you

8 0

3 years ago

Evan bought into a housing cooperative that's focused on cultural exchange. Each month, the co-op residents have dinner meetings

Nonamiya [84]

He would also receive a shares in the cooperative corporation as he received a proprietary lease for his unit.

<h3>What is a proprietary lease?</h3>

This refers to an occupancy agreement that gives the shareholder in a housing cooperative the right to occupy a particular dwelling unit.

Hence, in the context, Evan would also receive a shares in the cooperative corporation as he received a proprietary lease for his unit.