Explanation:
The correct journal entry is as follows:
Cash Dr $90
Service revenue Dr $560
To Account receivable $650
(Being the cash received is recorded)
Basically we debited the cash for $90 and service revenue for $560 and credited the account receivable for $650 so that the correct posting could be done
The cash difference is
= $650 - $560
= $90
Answer:
Burns’s revocation is not effective
Explanation:
Revocation can be defined as the
the cancellation of either a decree, decision, or even a promise and the making void of some deed which was previously existing.
Therefore according to the information given Burns’s revocation is not effective because Burns’s promise to pay for a particular performance which isa unilateral contract which was said to be rendered irrevocable once Realtor performed by finding a buyer for the building.
The additional expenses required in order to avoid keeping currency during periods of inflation are known as shoe leather costs.
<h3>What do you know about holding cash?</h3>
The reasons for keeping cash are pretty straightforward. Cash inflows and outflows may balance each other out, or the outflows occasionally exceed the inflows. Hence, to cover up these eventualities, organizations hold cash to meet certain unpredictable situations.
The term "transaction motive" refers to the need for cash that a business has for ongoing operations. In general, the business needs cash to pay employees' salaries, rent, pay for labor, acquire items, and other expenses. On the receiving side, the business receives money from customers, debtors, and other sources. The inflows and outflows do not always coincide. As a result, the company keeps some cash on hand to fill this shortfall.
To know more about holding cash, visit:
brainly.com/question/15522054
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Answer:
the cost of the unused capacity reported is $11,400
Explanation:
The computation of the cost of the unused capacity reported is as follows:
= (Estimated amount of overhead ÷ capacity machine hours) × (capacity machine hours - actual machine hours)
= ($22,800 ÷ 19,000 machine hours) × (19,000 - 9,500)
= $1.2 × (9,500)
= $11,400
hence, the cost of the unused capacity reported is $11,400
When you observe information, it's important to make sure you aren't cluttering your mind with unimportant information. Unimportant information refers to anything that you are observing while learning that won't matter overtime or, doesn't directly pertain to your situation. Observation can only be a useful skill if what you are observing you remember and can do after watching on your own.