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enot [183]
1 year ago
10

which of the following entries records the adjustment for revenue earned, but not yet collected? multiple choice debit accounts

receivable and credit sales revenue. debit sales revenue and credit accounts receivable. debit deferred revenue and credit sales revenue. debit accounts receivable and credit deferred revenue.
Business
1 answer:
Yanka [14]1 year ago
7 0

various options Debit receivables from customers, credit sales. Accounts Receivable is debited and Sales Revenue is credited. Sales revenue is debited and deferred revenue is credit. Debit receivables and credit deferred revenue are the two balances.

<h3> What are debit and credit?</h3>

An accounting entry that decreases an asset or cost account is known as a debit. or reduces an equity or liability account. In an accounting entry, it is placed on the left. An accounting item known as a credit raises a liability or equity account's balance. or lowers an account for an asset or expense.

The money that is placed into your checking account is a credit to the bank even if it is a debit to you (an increase in your asset) because it is not their money. It is your money, and the bank owes it to you, so it is a liability on their books. A credit is an increase in a liability account.

Explain debit and credit with an example:

Debit what comes in, credit what leaves, first. Second, credit all gains and revenue while debiting all expenses. Thirdly, debit the sender and credit the recipient.

<h3>Can you credit revenue and debit accounts receivable?</h3>

An accounts receivable transaction in journal entry form debits accounts receivable and credits a revenue account. Credit accounts receivable (to eliminate the receivable) and debit cash (to show that you have been paid) when your customer pays their invoice.

Debit or Credit Account: As a business owner, your equity grows as a result of your revenue. Revenues must be reported as credits rather than debits because your equity typically has a credit balance.

Revenue from sales is it an accounts receivable?

When a business sells anything, it reports the revenue from the transaction on its income statement. They list the amount owed as accounts receivable on their balance sheet if the consumer hasn't yet paid them for the purchase. The amount indicated on the income statement is offset by accounts receivable.

To know more about Debit or Credit , visit:

brainly.com/question/12269231

#SPJ4

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Mara Kay is a system analyst for a national department store. She was tasked to identify previously unknown relationships in the
kherson [118]

Answer: Data Mining

Explanation: Mara Kay tasked with identifying previously unknown relationships in the company's sales data. This is an indication that Mara Kay will be working with pre-existing company data.  

Data Mining can therefore be defined as the examination of large pre-existing databases in order to discover/identify patterns that will be useful in generating new information.

Data Mining is also known as Knowledge Discovery in Databases.

Data Mining will not be complete if the results of the analysis are not used for future purposes, therefore, Mara Kay will use the results of her findings for future promotions.

5 0
3 years ago
Economic profit can be derived from calculating total revenues minus all of the firm's costs
Mice21 [21]

Answer:

Economic profit can be derived from calculating total revenues minus all of the firm's costs, Economic profit can be derived from calculating total revenues minus all of the firm's costs, including its opportunity costs. are two stark realities any business firm must recognize.

6 0
3 years ago
Q 11.20: Katie Inc. reported net income of $171,000 for the current year and paid dividends of $26,000 on common stock. It also
Leviafan [203]

Answer:

The company's return on common stockholders’ equity for the current year is 8%

Explanation:

<em>Step 1: Determine net income available to common stockholders</em>

The net income available to common stockholder can be expressed as;

net income available to common stockholders=net income-preferred stocks dividends

where;

net income=$171,000

preferred stocks dividends=$10,000×0.06×100=$60,000

replacing;

net income available to common stockholders=171,000-(10,000×0.06×100)=$111,000

<em>Step 2: Determine the company's return on stockholder's equity for the current year</em>

This can be expressed as;

The company’s return on common stockholders’ equity for the year=net income available to common stockholders/(common stock holders equity on January 1+common stockholders equity on December 31)/2

where;

net income available to common stockholders=$111,000

common stock holders equity on January 1=$1,200,000

common stockholders equity on December 31=$1,600,000

replacing;

($111,000/ ($1,200,000 +$1,600,000)/2))=(111,000/1,400,000)×100=7.93%=8%

The company's return on common stockholders’ equity for the current year is 8%

4 0
3 years ago
Help me with this please.
RUDIKE [14]

Answer:

creditors should be the answer

4 0
3 years ago
Which is an intangible asset
kifflom [539]

Answer:

see below

Explanation:

An intangible asset is an asset with no physical presence with a useful life of more than one year. Intangible assets cannot be touched or seen. Like other assets, they create wealth for a business. Their value is recorded in the financial books and spread throughout their useful life through amortization.

Examples of intangible assets include a brand name, goodwill, and intellectual properties such as copyright and patents. These assets do not have any physical substances. Intangible assets contrast tangible assets such as land, buildings, and motor vehicles. Intangible assets can be acquired or be created just like tangible assets.

3 0
3 years ago
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