The correct answer is to debit Cash (an asset) for $1,000 as the company now has the cash and credit Deferred Revenue (a liability) for $1,000 as the company now has an obligation to provide services in the future.
<h3>What is
Revenue?</h3>
The total amount of income earned by the sale of goods and services connected to the principal operations of the firm is referred to as revenue in accounting. Commercial revenue is often known as sales or turnover. Some businesses make money by charging interest, royalties, or other fees.
The overall cost of making and distributing a product or service to consumers is referred to as the cost of revenue. The cost of revenue is disclosed in a company's income statement. It is intended to show the direct costs related with the goods and services offered by the company.
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Answer:
Reserves fall by $2 million, and the monetary base falls by $2 million.
Explanation:
In the books of First National Bank, the purchase of $2 million of bonds by First National Bank, from the Federal Reserve means there is a reserve with the Federal Reserve represented by security which stands as asset.
In the books of the Federal Reserve, The sales of bonds to First National Bank will create a liability from the reserve assets.
See attached for the T-accounts explain the answer
She is involved with the cultural environment as this mainly focus on the well being of each individual and each of the person's identity in which we can see that Patsy is focused on the elderly for her reason to provide the assistance they need and requires.
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Answer:
The operators have not violated the antitrust laws because they are only collaborating to lobby the government
Explanation:
The antitrust law in the U.S. can be described as a group of federal and state government laws enacted to regulate the activities of business firms in order to enhance competition to the advantage of consumers.
The antitrust law aims to collusive activities that suppress trade, any merger and acquisition that would reduce competition, and prevent the the abuse of monopoly power.
Since the activity of the operators of adult bookstores does not fall under what the antitrust law aims to prevent but it is just a collaboration to lobby the government, they have a good defense that they have not violated the antitrust laws.
