Answer:
Just here to keep the question going
Explanation:
When a company obtains a utility bill but will not pay it right away, it should debit utilities expense and credit accounts payable.
The accounting equation, Assets = Liabilities + Owners Equity means that the total assets of the business are all the time equal to the total liabilities plus the total equity of the business. This is true at any time and applies to each matter.
In this case the balance sheet or accounts payable have an increased of $500, and the income statement has a utilities expense of $500. The expense decreases the net income, retained earnings, and therefore owners’ equity in the business.
Answer:
Commits the fed to set a particular money supply so that it hits the announced target
Explanation:
The target rate and money supply need to be alligned for the FED to achieve its goals.
Answer:
Explanation:
The journal entry for July 8, 2016 is shown below:
Bank A/c Dr $11,700
Commission fee A/c $300 ($12,000 × 2.5%)
To Sales A/c $12,000
Since the sales is recorded at $12,000 which includes commission fee of $300 ($12,000 × 2.5%) , the remaining balance i.e $11,700 ($12,000 - $300) would be debited to the bank account.
Answer:
4. No and Yes
Explanation:
On march 1, 2018 the paid in capital will increase by $20000 ($90000 - 7000×$10 )