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3 years ago

A company collected $10,000 cash from a customer as a deposit for goods that will be shipped next quarter.

Business

2 answers:

Sholpan [36]3 years ago

8 0

Answer:

(A) Total assets,

(D) Total liabilities

Explanation:

A company collecting $10,000 cash from a customer as a deposit for goods that will be shipped next quarter is an example of an unearned revenue. It is receiving money from the customer in advance for the good or service yet to be provided.

And this is considered as a liability and recorded in the balance sheet as such because the company now owes the customer.

When the good or service is now provided, it increases the total assets.

babunello [35]3 years ago

6 0

Answer:

The answer are:

a) Total Assets

c) Cash from Operations

e) Total Liabilities

Explanation:

The entry for the transaction is:

Dr Cash 10,000

Cr Unearned Revenue 10,000

As Cash has been increased by $10,000, the Total Asset will increase by the same amount ( because Cash Account is an asset account) and Cash from Operations will also increase by $10,000 because this receipt is from the result of the company normal business transaction.

As Unearned Revenue which is a Liability Account because good and services has not be delivered, increases by $10,00; total Liabilities will also increase by $10,000.

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Give an example of how businesses use demographic information ECONOMICS

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Businesses often segment the market based on key demographics such as age, gender, income level or marital status, but they also use more precisely defined categories to target specific groups.

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3 years ago

The XYZ Chemical Company must ship 9,500 gallons of pesticides from its plant in Cincinnati, Ohio, to a customer in Columbia, Mi

never [62]

Answer:

Henderson = $1,200

Central States = $1,000

Based on the calculations, Central States Railroad is better at a lower cost than Henderson

Explanation:

The question is to do an evaluation of the costs of use Henderson Bulk Trucking Company or the Central States Railroad

Step 1) Determine the cost of using Henderson

What is the cost per tank truck = $600

What is the capacity in gallons = 700 galloons

However, since XYZ Chemical needs to ship 9,600 gallons, it means it will make use of 2 trucks from Henderson as follows

The cost of Henderson Bulk Trucking = $600 x 2 = $1,200

Step 2) Determine the cost of using Central Railroad

What is the cost per tank truck = $1000

What is the capacity in gallons = 23,500 galloons

since XYZ Chemical needs to ship 9,600 gallons, it means it will make use of only one of the trucks

The cost of Central Roilroad= $1000 x 1 = $1,000

Based on the calculations, Central States Railroad is better at a lower cost than Henderson

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3 years ago

What do you want to be when you a grow up? I want to be a model or a fitness model or a boxer or a professional tahitian dancer

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3 years ago

On April 1, 2016, the premium on a one-year insurance policy was purchased for $3,000 cash with the insurance coverage beginning

Gekata [30.6K]

Answer:

C. Insurance expense will increase $2,250

Explanation:

On April 1 2016, the following journal entry will be recorded in respect of the premium paid on a one year insurance policy:

Debit Credit

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The year end given in this question is December 31, 2016 and the insurance premium is for one year and since the insurance premium is paid on April 1, 2016, therefore, only expense in respect of 9 months i.e. from April 1, 2016 to the December 31, 2016 will be recognised in this year. Remaining expense of three months will be recognised in the Year ended December 31,2017.

The following Journal entry will be recorded in respect of insurance expense in accounts on December 31, 2016.

Debit Credit

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Prepaid Insurance 2,250

So the answer will be C. Insurance expense will increase $2,250

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3 years ago

Harry owes the bank money. To repay his debt, he paid \$150$150dollar sign, 150 back to the bank each month. After 101010 months

Firdavs [7]

Answer: $8,400

Explanation:

Given the following:

Amount repaid each month = $150

Number of Periods for which amount was paid = 10 months

Amount left after 10 months payment = $6900

Harry's original debt=?

The total amount paid = $150 × 10 = $1500

Amount left = $6900

Total debt amount:

(Total Amount left + total amount paid )

$(6900 + 1500)

=$8400

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3 years ago