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Bingel [31]
2 years ago
12

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

Business
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
Supporters of a minimum wage argue that it can increase wage rates without causing significant unemployment in which type of lab
dem82 [27]

Supporters protest that the wage rates can be increased without causing any significant unemployment are usually referring to the low pay labor market.

<h3>What is a wage? </h3>

A wage is the money compensation for the services obtained by a labor, this wage is based on rates these rates can be hourly, per piece or per day.

In such a market even if wage rates are increased the unemployment is not  significant and is in fact beneficial for the labor working on a low wage.

#SPJ12

Learn more about labor at brainly.com/question/27835210

5 0
2 years ago
XYZ Corp owns a 3-year $10 million par floating rate bond. The coupons on the bond are 12-month LIBOR. XYZ would like to hedge a
malfutka [58]

Answer:

 2.45%

Explanation:

The computation of the fixed rate is shown below:

Years to maturity   Zero coupon  bond price  YTM      Forward rate

1                                 0.99                     1.01%  

2                                      0.97                             1.53%       2.06%

3                                      0.93                            2.45%     4.30%

The fixed rate should be equivalent to the YTM of the 3 year bond i.e. 2.45% the same is to be considered

3 0
3 years ago
Lester's just signed a contract that will provide the firm with annual cash inflows of $28,000, $35,000, and $42,000 over the ne
Free_Kalibri [48]

Answer:

$64,474.20

Explanation:

As for the information provided,

discount rate = 7.25%

First payment will be made at the end of year 1

Discounting factor = \frac{1}{(1+0.0725)^1} = 0.9324

Thus, current value of payment = 28,000 \times 0.9324 = $26,107.20

Discounting factor for receipts =

Year 1 = \frac{1}{(1+0.0725)^1} = 0.9324 = $28,000 \times 0.9324 = 26,107.20

Year 2 = \frac{1}{(1+0.0725)^2} = 0.8694 = 35,000 \times 0.8694 = 30,429

Year 3 = \frac{1}{(1+ 0.0725)^3} = 0.8106 = 42,000 \times 0.8106 = 34,045.20

Therefore, value of contract today = - $26,107.20 + $26,107.20 + $30,429.0 + $34,045.20 = $64,474.20

5 0
3 years ago
The Self-development stage of the extratropical cyclone model occurs when _________. upper level divergence moves over a station
weqwewe [10]

Answer: cold and warm air masses interact in an unstable environment.

Explanation: Extratropical cyclones, sometimes called mid-latitude cyclones or wave cyclones, are low-pressure areas which, along with the anticyclones of high-pressure areas, drive the weather over much of the Earth. Extratropical cyclones are capable of producing anything from cloudiness and mild showers to heavy gales, thunderstorms, blizzards, and tornadoes. These types of cyclones are defined as large scale (synoptic) low pressure weather systems that occur in the middle latitudes of the Earth. In contrast with tropical cyclones, extratropical cyclones produce rapid changes in temperature and dew point along broad lines, called weather fronts, about the center of the cyclone .According to the polar-front theory, extratropical cyclones develop when a wave forms on a frontal surface separating a warm air mass from a cold air mass. As the amplitude of the wave increases, the pressure at the centre of disturbance falls, eventually intensifying to the point at which a cyclonic circulation begins. The decay of such a system results when the cold air from the north in the Northern Hemisphere, or from the south in the Southern Hemisphere, on the western side of such a cyclone sweeps under all of the warm tropical air of the system so that the entire cyclone is composed of the cold air mass. This action is known as occlusion.Extratropical cyclones arise through a process called cyclogenesis, in which cold and warm air masses interact in an unstable environment.

5 0
3 years ago
Read 2 more answers
As the contestant with the longest winning streak in the history of Jeopardy, Ken Jennings won more than $2.5 million. Suppose h
aleksandrvk [35]

Answer:

Total amount = $10906400

He would receive = $ 45443.33 every month

Explanation:

Ken invested $1.6 million at 9.6% for 20 yes compounded monthly.

n = 20*12= 140

t = 20

P= 1600000

R= 9.6% = 0.096

Amount A is equal to

A = p(1+r/n)^(nt)

A =

1600000(1+(0.096/140))^ (140*20)

A =

1600000(1 + (6.857*10^-4))^(2800)

A= 1600000(1.0006857)^2800

A = 1600000*6.8165

A = 10906400

Every month, he will get

10906400/(12*20)

= 10906400/240

=$ 45443.333

8 0
3 years ago
Read 2 more answers
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