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Pani-rosa [81]
3 years ago
8

On October 3, Karl Schickele, a carpenter, received a cash payment for services provided to a client. Karl paid his telephone bi

ll, and he also bought equipment on credit. For the three transactions, at least one of the entries will include a __________.A) debit to Accounts Receivable.
B) credit to Retained Earnings.
C) credit to Notes Payable.
D) credit to Accounts Payable.
Business
1 answer:
kotykmax [81]3 years ago
4 0

Answer:

Option C. Credit to Notes Payable

Explanation:

The reason is that when the payment was received for the services delivered the entry would be:

Dr Cash Account XX

Cr Accounts Receivables XX

Because the receivable has been reduced and the cash asset has been increased. (Decrease in one asset and increase in the other)

When the bills are paid the entry would be to record the accounts payables decrease which must be debited and decrease in cash asset is always credited.

Dr Accounts Payables XX

Cr Cash Account             XX

When the equipment is bought at credit the entry would include an increase in Equipment asset which must be debited and increase in notes payable because credit is used here to finance the equipment. This increase in credit must be credited.

Dr Equipment XX

Cr Notes Payables XX

So the only entry which matches the one of the option is credit to notes payables.

Hence option C is correct here.

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Answer:

Trademark.

Explanation:

Trademark is a type of intellectual property that involves use of a unique design to legally differentiate a product from others in the market. It shows a particular product belongs to a company.

Elizabeth should first of all get a trademark on her picture frames so that they will be legally protected from copying by others.

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3 years ago
what budgeting review for the next fiscal year occurs while one FY budget is being executed and the next fiscal year is being en
guajiro [1.7K]

Planning, Programming, Budgeting and Execution (PPBE) is the budgeting review for the next fiscal year occurs while one FY budget is being executed and the next fiscal year is being enacted.

<h3> <u>What is a budget?</u></h3>
  • A budget is an estimate of income and expenditures for a given future period of time, and it is often created and updated on a regular basis.
  • A individual, a group of people, a corporation, a government, or pretty much anything else that makes and spends money can all have budgets.
  • Budgeting is essential if you want to control your monthly spending, be ready for life's unforeseen events, and be able to buy expensive products without falling into debt.

It doesn't have to be tedious, you don't have to be brilliant at arithmetic, and keeping track of your income and expenses doesn't mean you can't buy the items you want. Simply put, it means you'll be more in charge of your finances and know where your money is going.

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7 0
1 year ago
Explain business activities and classification ?<br><br>​
nexus9112 [7]

Answer:

Business activities may broadly be classified into two categories namely (A) Industry and (B) Commerce. Industry involves production of goods and services whereas commerce is concerned with the distribution of goods and services.

Explanation:

hope helps

7 0
2 years ago
Read 2 more answers
What is one way that the government cannot prevent a budget deficit?
Anna007 [38]

Answer:

The answer is Selling Stocks

3 0
2 years ago
Horton Industries’ shareholders’ equity included 140 million shares of $1 par common stock and a balance in paid-in capital - ex
kiruha [24]

Answer:

The total paid-in capital declines by $17 million

Explanation:

The necessary entries to record the repurchase of shares  are as follows:

Dr Common stock      $1*2,000,000    $2,000,000

Dr Paid-in capital in excess of par

1120*140*2000,0000                             $ 16,000,000

Cr Cash  $7*2000,000                                                        $14,000,000

Cr Share repurchase(balancing figure)                                $4,000,000

Invariably, the paid-in capital declines by the difference the total of common stock and paid-in capital in excess of par ($2m+$16m) and the share repurchase,hence the it declines by $17 million

4 0
3 years ago
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