Answer and Explanation:
1.
5 million shares granted ×$9.00=$45,000,000
2. No entry is made on the grant day.
3-5 )Dr compensation expenses 15
(45 million ÷3 years)
Cr Paid in capital-restricted stock 15
Note: The entry is the same for years 2021 to 2023
6. Dr Paid in capital-restricted stock 45
Cr Common stock($5 million share×$1 par)
$5
Cr Paid in capital - excess of par (Remainder) $40
Answer:
a. each revenue account will be credited.
Explanation:
In accrual accounting revenues and expenses are realised and recorded when the revenues are earned or when expenses are incurred.
Temporary accounts are used to store balances from the revenue or expense activities of a business.
Eventually these accounts are closed out to permanent revenue and expense accounts. Revenues are credited to reflect income earned, and expenses are debited to reflect costs incurred.
My mom actually has her accountant degree but she quit after a few years and got a different degree. any ways here you go!
An accountant can advise on business structure.
An accountant can issue invoices.
An accountant can record sales.
An accountant can manage and pay invoices from suppliers.
An accountant can manage payroll.
An accountant can keep you up to date with tax laws and changes.
Answer:
balance in bills receivables account = $364000
Explanation:
given data
write off = $32000
balance in accounts receivable = $400000
balance in allowance account = $36000
to find out
net realizable value of accounts receivable
solution
we first find credit balance in allowance that is
credit balance in allowance = $36000 - $32000
credit balance in allowance = $4000
and
so here balance in bills receivables account is
balance in bills receivables account = ( $400000 - $32000 ) - ( $36000 - $32000 )
balance in bills receivables account = $368000 - $4000
balance in bills receivables account = $364000
