Answer:
Dr Construction 800000
Dr Cost of construction 1200000
Cr Revenue form long-term contracts 2,000,000
Explanation:
Based on the information given What would be the journal entry made in 2020 to record revenue is :
Dr Construction $800,000
Dr Cost of construction $1,200,000
Cr Revenue form long-term contracts $2,000,000
($800,000+$1,200,000)
(Being to record revenue)
Answer:
$6,000
Explanation:
Data provided
Beginning credit balance = $26,000
Net loss = $12,000
Paid dividends = $8,000
The calculation of Retained Earnings account is given below:-
Retained Earnings = Beginning balance - Net loss - Dividend
= $26,000 - $12,000 - $8,000
= $26,000 - $20,000
= $6,000
So, for computing the retained earning we simply applied the above formula.
<span>Many businesses prefer to provide and accept credit cards rather than accept personal cheques because it's more convenient for them to just charge directly to the bank of the credit card rather than they still needs to go to the bank and exchange the cheques.</span>
Answer:
True
Explanation:
The above statement that, government regulations are intended to protect consumers , companies , and societal interests <em>is true .</em>
It is the duty of the government t protect the rights of the consumer , companies and society.
The government regulation is necessary to protect and save the public . It prevent the people to go on wrong path . The government has made many laws for the people in different area , like if any company provide adulterated goods to the people then people have the right to file case against that company or that product. The government also made many road safety rules to protect the people like no drink and drive etc.
The government also make companies to follow the right path and not to do any unfair practices . The government made company to follow ethics , do some social well fare.
Answer:
Suppose that last year you borrowed $100 at 5 percent interest to purchase a $100 pair of Nike cross-training shoes. This year you repaid the bank with interest. If the inflation rate was 10 percent last year, your purchase of the shoes would: <u>make you an inflation winner as you saved $5 on the shoes</u>.
