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2 years ago

The entry to record the sale of services for cash includes a ______.

Business

1 answer:

Lostsunrise [7]2 years ago

8 0

The entry to record the sale of services for cash includes a Debit to cash

Credit to service revenue

The foundation of a business's double-entry accounting system is debits and credits. Credits represent funds deposited into an account, whereas debits indicate funds withdrew from one. At least one debit and one credit in equal but opposite amounts must be recorded to the business's accounting ledger for each financial transaction conducted by the company.

Debits and credits are used by bookkeepers and accountants to balance each recorded financial transaction for specific accounts on the balance sheet and income statement of the organization. In a double-entry accounting system, the employment of debits and credits enables the company to more quickly balance its books at the conclusion of each time period.

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Kendrick's job responsibilities have recently been changed as part of a decentralization effort taking place at his office. He h

lakkis [162]

Answer:

This is an example of Job enrichment

Explanation:

Job enrichment means that jobs are restructured or redesigned by adding higher levels of responsibility. This practice includes giving people not only more tasks but higher-level ones, such as when decisions are delegated downward and authority is decentralized.

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3 years ago

A petty cash fund was established with a $350 balance. It currently has cash of $41 and petty cash tickets totaling $309. Which

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Answer:

C. A credit to Petty Cash for $309

Explanation:

Based on the information given we were told that the PETTY CASH tickets total the amount of $309 which therefore means that the appropriate entry included in the entry to REPLENISH THE FUND will be :

A credit to Petty Cash for $309

(Replenish fund)

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3 years ago

obinson Company had a net deferred tax liability of $34,000 at the beginning of the year, representing a net taxable temporary d

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Answer:

Robinson's deferred income tax expense or benefit for the current year would be $6,700

Explanation:

The computation of the deferred income tax expense or benefit for the current year is shown below:

= Deferred tax expense - adjustment of tax based on the tax rate

where,

Deferred tax expense = (Favorable temporary differences - unfavorable temporary differences) × corporate tax rate

= ($50,000 - $20,000) × 21%

= $6,300

And, the adjustment of tax equals to

= Net taxable temporary difference × (Tax rate - corporate tax rate)

= $100,000 × (34% - 21%)

= $13,000

Now put these values to the above formula

So, the value would equal to

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= $6,700

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3 years ago

The comparative balance sheets for 2021 and 2020 are given below for Surmise Company. Net income for 2021 was $88 million.

Alinara [238K]

It can be deduced that the cash flow shows that the net cash provided by operating activities will be $58 million.

<h3>How to compute the statement of cash flow</h3>

<u>Cash flow from operating activities</u>

Net income = $54 million

Add: Depreciation $15 million.

Add: Bad debt = $6 million

Add: Amortization expense = $3

<u>Changes in operating assets and liabilities</u>

Decrease in account receivable = $4 million

Increase in inventory = ($9 million)

Increase in prepaid expense = ($2 million)

Decrease in account payable = ($10 million)

Decrease in accrued liability = ($3 million)

Net cash provided by operating activities = $58 million

In conclusion, the net cash provided by operating activities is $58 million.

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2 years ago

As the manager of a food store, your friend is trying to come up with ways of increasing sales of items that have a high profit

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Answer:

The correct answer is There will be no real change in the sales of those subliminally advertised items.

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3 years ago