Meenal should apply for an internship or job shadowing.
- A job shadowing is like an internship, except in the detailed formality and duration. With a job shadowing, Meenal will be allowed to observe an experienced person on the job.
- Unlike an internship, a job shadowing does not enable Meenal to do actual work.
- Apprenticeship in networking involves the acquisition of more technical skills in the field rather than in an office environment.
Thus, the best choice is for Meenal is to apply for an internship or a job shadowing.
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Answer:
Explanation:
The question says to complete the necessary adjusting entry
What is an adjusting entry:
An adjusting entry represent an accounting entry passed usually at the end of the accounting year to ensure that accounts following the matching principle. An adjusting entry can further be passed to calculate and bring in respective account balances at the end of the period.
Therefore, the required adjusting entry is as follows:
Date Particulars Debit Credit
Dec 30 Salaries expense $4,000
Salaries payable a/c $4,000
being the record of salaries accrued at the end of the year
Note: Since a day is $800 and there are 5 days, the accrual is $800 x 5 = $4,000
The terms of an invoice are 3/10, n/25 this means that a <u>discount of 3% is allowed if the invoice is paid within 10 days</u> of the invoice date.
3/10, n/25 this means that a 10% cash discount is available if the invoice is paid within 10 days, pay the net price if covered within 25 days of the invoice date. Discounts are reductions of the normal fee of a product or service with the purpose to obtain or growing income.
Trade discount refers to the deduction given by using the supplier to the purchaser within the catalog price of the goods. Cash discount implies the allowance granted to the clients by means of the supplier on the billing fee, for immediate payment.
A cash discount also referred to as a purchase cut price or income discount, is a reduction in the purchase fee of an excellent because of an early cash charge. In different words, the seller of products is inclined to lessen the fee of the goods if the purchaser is inclined to pay for the coolest in advance.
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In the given transaction Marvin Company has purchased a new building for $250,000. Marvin paid a $100,000 down payment and will pay off the remainder over seven years it means the balance (250000-100000) = 150,000 is a liability for Marvin company.
So there is an Increase in the asset by $250,000 due to purchase of the building and there is a decrease in assets by $100,000 due to the payment of cash. Hence the Net increase in the assets is (250,000-100,000) = $150,000.
And there is an increase in the liabilities by $150,000.
Hence the correct answer is:
d. $150,000 net increase in assets and $150,000 increase in liabilities
Answer: Sherry and Maria.
Explanation:
