Answer:
He can choose to defer the recognition of the income until next year, only if the income is not recognized for financial accounting purposes.
Answer:
A. Some customers presented tickets purchased on a previous day when there wasn't a ticket taker at the theater entrance.
Explanation:
The control of selling fresh prenumbered tickets from the last number sold on the previous day is a control that detects tickets sold the previous day.
If tickets were sold on the previous day, they can be reused today. So having a unique number on them is an ideal way to monitor the range of tickets issued today.
Only those within the range will be allowed to enter the theatre.
Answer:
It is used by Fed to manage the economy by increasing or decreasing the amount of loans being made
Explanation:
The Fed decides on required reserve ratio for the banks and other financial institutions; t can lower or raise it. Reserve ratio is the portion of all the money that bank are required to sets aside and hold onto; this means they are not allowed to lend that out to borrowers. This is a technique that is used to control the supply of money in the economy. By decreasing this ratio, banks will have more money to lend out and vice versa.
The captains of industry like J.P. Morgan<span> respond to signs that the stock market was about to </span><span>collapse by meeting each other and trying to save the market. J.P. Morgan invited the leading bankers and financial experts to his home where they set up a shop in his library. They labored to channel money from strong institutions to weaker institutions to keep them afloat. Their efforts improved the condition of the economy over several weeks.</span>
Answer:
Lopezâs bonus expense is computed as $40,777. Therefore,
The Journal entries are as follows:
(i) On December 31,
Employee bonus expense A/c Dr. $40,777
To Bonds payable A/c $40,777
(To record the bonus due)
(ii) On January 19,
Bonds payable A/c Dr. $40,777
To Cash A/c $40,777
(To record the payment of the bonus to employees.)
