Answer:
a. Accounts Receivable (Dr.) $9,880
Sales (Cr.) $9,880
If not adjusted it will have impact on revenue in Income statement being understated and Receivables being understated in the balance sheet by the amount of $9,800.
b. Notes Receivable (Dr.) $650
Interest Income (Cr.) $650
If not adjusted this will have effect on Income statement in the incomes being understated and ultimately decrease in net income and in balance sheet it will understate the receivables (assets) by the amount of $650.
Explanation:
<u>1. Adjusting Entries </u>
a. Accounts Receivable (Dr.) $9,880
Sales (Cr.) $9,880
b. Notes Receivable (Dr.) $650
Interest Income (Cr.) $650
2. If a. is not adjusted it will result in understatement of accounts receivables ultimate effect on assets side of the balance sheet and sales (revenue) will also be understated and will have ultimate effect on income statement by the amount of $9,880.
If b. is not adjusted this will have effect on income statement in a decrease in net income and in the balance sheet receivables will be declined by the amount of $650 on the assets side.
Answer:
B
Explanation:
she can voluntarily join others is in the hands of getting accepted
A common market, also known as a trade bloc, refers to a group of countries that have a common external tariff, to favor both in different areas, such as social and economic.
<h3 /><h3>Common market definition</h3>
It is necessary that some requirements are satisfied so that there is a common market between countries, which are, the elimination of tariffs on the import and export of goods and services.
There is also the free movement of goods, capital, services and labor between member countries, as well as the common adoption of trade restrictions to countries outside the group. An example of a common market is the European Union.
Therefore, the common market or trading bloc corresponds to a formal agreement between countries generating greater efficiency, economies of scale, increased innovation and the capacity for economic growth.
The correct answer is:
Find out more information about common market here:
brainly.com/question/757709
Answer:
The rate of return on total assets for 2017 is 62.03%
Explanation:
The return on total shows assets shows a relationship between the net income including interest expenses and the average total assets.
The computation of the rate of return on the total assets is shown below:
Rate of return on the total assets = {(Net income + Interest expense) ÷ average total assets)} × 100
= ($185,000 + $20,000) ÷ {($404,000 + $257000) ÷ 2} × 100
= ($205,000 ÷ $330,500) × 100
= 62.03%
Answer:
d. classified as a common fixed expense and not allocated to the product lines.
Explanation:
In the case when the income statement is segmnented by the product line so the salary of the chief executive officer (CEO) would be categorized as a common fixed expenses as it has fixed in a nature so it would not be allocated to the product lines
Therefore as per the given situation, the option D is correct
Hence, the same is to be considered
