A. Platinum
Hope this helps.
Answer:
No. Account Titles & Explanation Debit Credit
1.
Cash $38,000
Barry Capital Account $38,000
2.
No Entry Requires as Employee are only Hired there id no financial transaction involved in hiring the employees only.
3.
Prepaid Rent $10,800
Cash $10,800
4.
Wages Expense $500
Cash $500
5.
Cash $2,900
Revenue $2,900
Explanation:
1. Cash paid is the capital contribution in the business so cash account will be debited and capital account will be credit as per their nature.
2. Hired an employee does not need any transaction as there is no financial involvement in just hiring an employee.
3. Prepaid expense is actually an asset for us as we paid expenses in advance which is not incurred yet. It will be recognized as expense with passage of time.
4. Payment to worker is an expenses against a credit to cash as wage is paid in cash.
5. Revenue earned should be recorded and also received so cash will be debited for the receipt from sales and revenue shold be debited due to its nature of account.
Answer:
Gross income=(1450-700)=$750
Explanation:
Gross income is the total earning before any taxes or deductions
In this case;
Gross income=Winnings-Losses
where;
Winnings=Slots+poker=(250+1200)=$1450
Losses=racetrack=$700
Replacing;
Gross income=(1450-700)=$750
Answer:
False
Explanation:
The expected value of each course of action in a decision tree is not determined by starting at the beginning of the tree, instead it is a process because you need to make a desition and in some extend you espect to have some results but some of them are uncertain or unespected. in this kind of scheme Squares represent decisions, and circles represent uncertain outcomes. Then you need to calcule the desition nodes giving each option a cost or value, This will give you a value that represents the benefit of each decision. at the end calculating choose the option that has the largest benefit, and take that as the decision made. This is the value of that decision node.
Answer:
The correct answer is letter "A": should be identified before decision criteria are established.
Explanation:
Decision criteria represent the set of steps individuals take while making a decision. Before taking a decision and selecting decision criteria, the decision alternatives must be outlined. Thanks to these alternatives a problematic situation will be resolved.
