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4 years ago

Wich entry would record the payment of a utility bill

Business

1 answer:

Bad White [126]4 years ago

5 0

Debit to utility expense and a credit to cash. Therefore the answer is C.

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Select one of the choices below that best completes the following sentence: If an investor sold long-term bonds and used the pro

nydimaria [60]

Answer:

Reinvestment; Price

Explanation:

Reinvestment risk refers to the possibility that an investor will be unable to reinvest cash flows at a rate comparable to their current rate of return.

Price risk is the potential for the decline in the price of an asset or security relative to the rest of the market. It excludes market risk, or the potential for an entire market to go down in value.

4 0

3 years ago

. Tierney Enterprises is constructing its cash budget. Its budgeted monthly sales are $5,000, and they are constant from month t

mel-nik [20]

Answer:

b.$1,150

Explanation:

Sales Collection $5,000*.98 $4,900

Payment of purchases $5,000*50% ($2,500)

Other payments $5,000*25% ($1,250)

Net Cash flow during a typical month $1,150

3 0

4 years ago

Prepaid expenses, depreciation, accrued expenses, unearned revenues, and accrued revenues are all examples of:

Alik [6]

Income statement accounts -- so e.

5 0

3 years ago

The taxpayer performs services with payment due from the customer within 30 days. All customers pay within the time limit. What

DerKrebs [107]

Answer:

Defer Income

Explanation:

They generally report profits in the year accrued under an aggradation accounting method, then exclude or subtract costs in the year sustained.

Include all types of money you directly or constructively earn during your tax year in the gross income, using the cash form.

Therefore, as consumers or suppliers compensate after the taxpayer delivers the goods or conducts the programs, the taxpayer may delay profits by using the cash accounting method.

4 0

4 years ago

Bradley's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurr

leva [86]

Answer:

Mar. 1

Cash $59,000 (debit)

Common Stock $59,000 (credit)

Mar. 3

Land $22,900 (debit)

Building $8,310 (debit)

Equipment $9,990 (debit)

Cash $41,200 (credit)

Mar. 5

Advertising expenses $1,560 (debit)

Cash $1,560 (credit)

Mar. 6

Prepaid Insurance $3,500 (debit)

Cash $3,500 (credit)

Mar. 10

Equipment $4,800 (debit)

Account Payable : Tahoe Company $4,800 (credit)

Mar. 18

Cash $1,550 (debit)

Sales Revenue $1,550 (credit)

Mar. 19

Cash $1,050 (debit)

Unearned Revenue $1,050 (credit)

Mar. 25

Dividend $420 (debit)

Cash $420 (credit)

Mar. 30

Salaries Expenses $810 (debit)

Cash $810 (debit)

Mar. 30

Account Payable : Tahoe Company $4,800 (debit)

Cash $4,800 (credit)

Mar. 31

Cash $800 (debit)

Service Revenue $800 (credit)

Explanation:

Note the following :

1.The cash earned from coupon books is posted to a Liability account : Unearned Revenue instead of Sales Revenue Account. This is because revenue is recognized until customers use the coupons.

2. Repayment of an Account Payable decreases both the Assets of Cash and the Liability of Accounts Payables.

4 0

3 years ago