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kobusy [5.1K]
2 years ago
6

storybook company provided services to several customers during the month of december. these services have not yet been paid by

the customers
Business
1 answer:
katrin [286]2 years ago
5 0

Based on the fact that the services have not yet been paid for by the customers, the way to record the adjusting entry is to:

  • debit accounts receivable
  • credit services revenue

<h3>How should the unpaid services be recorded?</h3>

Accounting uses the accrual basis which means that revenue is recognized in the year that the service was given or good was delivered and not the period when cash exchanged hands.

Storybook company has provided services in December which falls under the current year. To record an adjusting entry, the company needs to credit service revenue to show that they have recognized the revenue. Accounts receivable will need to be debited to show that Storybook company is owed for the services by their customers.

Find out more on accrual basis at brainly.com/question/25817056

#SPJ1

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A corporation, like a(n)_______, may file suit or _______, or may form a contract or breach a contract.
eimsori [14]

A corporation, like an, can enter into contracts, be sued, sue another party, and launch lawsuits against other parties.

<h3>What is a file suit?</h3>

Simply put, to file a lawsuit is to complete and submit documents to a court, either independently or with the aid of an attorney, requesting for the lawsuit to move forward. In order to obtain compensation for "damages" that have been experienced as a result of negligence, the person is suing another person or an entity, or both.

The person or entity being sued is frequently referred to as the defendant, whereas the person or entity being sued is frequently referred to as the plaintiff.

To learn more about file suit, refer to:

brainly.com/question/28020083

#SPJ4

8 0
2 years ago
In 2001 chipotle, a fresh mexican grill, committed to increase its use of naturally raised meat, organic produce, and dairy with
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<span>Their marketing approach is listening to customer feedback. Basing some marketing and some ways they produce their food on customer feedback can be both beneficial and work out well as long as it's cost effective and doesn't hinder sales much.</span>
6 0
3 years ago
A firm’s current profits are $ 400,000. These profits are expected to grow indefinitely at a constant annual rate of 4 percent.
horrorfan [7]

Answer:

$20,800,000

Explanation:

The formula and computation is shown below:

Value of the firm = {(Firm's current profits) × (1 + firm’s opportunity cost of funds)} ÷ (firm’s opportunity cost of funds - constant growth annual rate)

= {($400,000) × (1 + 0.06) ÷ (0.06 - 0.04)

= $424,000 ÷ 0.02

= $21,200,000

Hence, we recognized all the information which is mentioned in the question.  

6 0
3 years ago
Secondary technology skills are skills that may be improved as the online class progresses. T or F
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I think its true but im not sure
7 0
3 years ago
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Polar Containers makes​ high-end coolers for camping. The total task time needed to make a cooler is 310 ​seconds, with the long
Degger [83]

Answer:

TAKT time: 840 seconds

maximum output:  315 coolers.

Explanation:

The takt time refers to matching the production pace with the demand

\frac{availalbe-working-time}{customer \: or \: firm \: demand}

To produce 30 coolers per 7-hours day we need an outpot of:

7 hours x 60 minutes x 60 seconds = 25,200

output of 30 coolers

takt: 25,200 / 30 = 840 seconds

producing a cooler every 840 seconds is the takt time.

Maximum output:

If the company does several cooler in parallel it will have a bottle neck in the longest individual task so, this time determinates the maximum output.

25,200 second of working time available

80 second longest task to complete a cooler:

25,200 / 80 = 315 coolers.

7 0
3 years ago
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