According to The American opportunity tax credit (AOTC<span>) Each student could </span>get a maximum annual<span> credit of $2,500 per eligible student.
So, </span><span>maximum education credit that emilio and lara can take on their return collectively is:
$ 2,500 x 2 = $ 5,000</span>
Answer:
Must be added to the book balance.
Explanation:
The correct treatment would be to add this value to book balance because the bank has increased our bank balance by the note and interest amount. This must be accounted for as increase in the book balance because we have borrowed money and also that yearly interest income was also added to our bank checking account.
Hence it must be added to cash book balance in order to reconcile with the bank balance.
Answer:
A. Going concern
B. Accrual Basis accounting
C. Operating Cycle
D. Cash Basis Accounting
E. Gains
F. Prepaid Expense
G. Revenue recognition principle
H. Expenses
I. Cash basis Accounting
J. Revenue - Expenses = Net Income
K. Expense
L. Ending Retained Earning = Beginning Retained Earning + Net Income - Dividends Declared
M. Unearned Revenue
Explanation:
The definitions for each letter are matched with the accounting terms. The unearned revenue account is used to record the revenue received but services yet to be delivered. This is a liability account in which the company reports any unearned revenue.
Answer: Debit Accounts Receivable $1,000, credit Service Revenue $1,000--A
Explanation:
When services are provided to customers for cash directly, The account to record is to debit from Cash and credit Service Revenue but when services are provided on account, The journal to record includes a debit to Accounts Receivable and Credit to Service Revenue
Therefore
Providing services to customers for $1,000 on account is recorded as:
Accounts titles Debit Credit
Accounts Receivable $1,000
Service Revenue $1,000
Answer: E. Rank
Explanation: In relationship-oriented cultures, ________ speaks quite loudly in both persuasion and the
demonstration of interest in a business relationship.
A) the bottom line
B) secrecy
C) profit
D) team strength
E) rank
Rank which is the level of one's position in a class-based organization pulls more weight in business negotiations in relationship-oriented cultures than as they do in information-oriented ones. In order to clinch successful business transactions, especially when dealing with international clients, a mix of managers from different cultural orientation is required as the selection of a negotiation team is often organized based on rank, as in cases where negotiators would be required to respect the coming along of senior executives in a bid to better match up with the negotiation teams of clients and partners, and traits such listening skills, assistance team etc.
