Answer:
Part a
Debit : Cash $9,000
Credit : Service Revenue $9,000
Part b
Debit : Prepaid Insurance $3,240
Credit : Cash $3,240
Part c
Debit : Equipment $12,000
Credit : Cash $12,000
Part d
Debit : Cash $14,000
Credit : Loan Payable $14,000
Explanation:
Step 1 : Identify the Accounts affected in each and every transaction.
Step 2: Then determine if this Account is increasing or decreasing.
Step 3 :The journal entries have been prepared above.
Answer:
a. No journal entry required.
Explanation:
a. No journal entry required.
b. No journal entry required.
c. DR - Rent Expense - $20
CR - Cash - $20
d. Cash (DR) 7,955
DR - Collection expense - $45
CR - Notes Receivable - $8,000
e. DR - Accounts Receivable-E. Shaw - $ 805
CR - Cash - $805
f. DR - Misc Expenses - $25
CR - Cash - $25
g. No journal entry required.
i. No journal entry required.
The correct answer is all of the above.
Human Resources Management deals with training, determining compensation and evaluating a potential employee’s promise and effectiveness. Because Human Resources Management deals with all of these things it makes all of the above the correct answer.
Answer:
$3,260
Explanation:
Preparation of December statement of cash flows for Ernst Consulting
ERNST CONSULTING Income Statement
For Month Ended October 31
REVENUES
Consulting fees earned $17,450
Total revenues $17,450
EXPENSES
Rent expense $4,530
Salaries expense $8,090
Telephone expense $880
Miscellaneous expenses $690
Total expenses $14,190
Net income $3,260
($17,450-$14,190)
Therefore December statement of cash flows for Ernst Consulting will be $3,260
Answer:
See explanation
Explanation:
Consider liabilities due within period of more than 12 months for the long-term liabilities section of the balance sheet.
