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4 years ago

When purchasing a dishwasher a manager can tell if it is in compliance with the regulatory authority by?

1 answer:

katrin2010 [14]4 years ago

5 0

When purchasing a dishwasher a manager can tell if it is in compliance with the regulatory authority by? Appliances have to be compliant with federal regulations. To check if a dishwasher is in compliance, a manager can make sure there are NSF seals or ANSI certifications on the dishwasher.

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On December 31, 2020, Ayayai Co. performed environmental consulting services for Hayduke Co. Hayduke was short of cash, and Ayay

Fiesta28 [93]

Answer:

Ed Abbey Co. (Ayayai Co.)

Journal Entries:

1. December 31, 2020:

Debit Accounts receivable $296,600

Credit Consulting revenue $296,600

To record consulting services performed on account.

December 31, 2020:

Debit Notes receivable $296,600

Credit Accounts receivable $296,600

To record the acceptance of notes.

December 31, 2021:

Debit Interest receivable $35,592

Credit Interest revenue $35,592

To accrue interest on notes receivable.

December 31, 2022:

Debit Interest receivable $35,592

Credit Interest revenue $35,592

To accrue interest on notes receivable.

Debit Cash $367,784

Credit Notes receivable $296,600

Credit Interest receivable $35,592

To record the full settlement of principal and interests.

Explanation:

a) Data and Analysis:

December 31, 2020: Accounts receivable $296,600 Consulting revenue $296,600

December 31, 2020: Notes receivable $296,600 Accounts receivable $296,600

December 31, 2021:

Interest receivable $35,592 Interest revenue $35,592

December 31, 2022:

Interest receivable $35,592 Interest revenue $35,592

Cash $332,192 Notes receivable $296,600 Interest receivable $35,592

8 0

3 years ago

What is the difference between accrual and realization concept in accounting

Firlakuza [10]

Accrual:- in layman terms, accrual is an ongoing process. For example if you are in an auto, the fare keeps on accruing as we travel

Realization:- in layman terms realization is the receiving of the money that had accrued. For example, when you pay the auto fare, that is realization

6 0

4 years ago

Mark the following statements that are TRUE.

motikmotik

Answer:

a. A counterfeit is an imitation of the genuine money, created with the intent to defraud.

TRUE

U.S. Currency was originally printed on blue paper.

FALSE: THE DOLLAR HAS ALWAYS BEEN GREEN

b. The First bank of the United States was started in 1888.

FALSE: THE (FIRST) BANK OF THE UNITED STATES WAS ESTABLISHED IN 1791

c. The French unit of money is the dollar.

FALSE: THE EURO IS THE OFFICIAL CURRENCY IN FRANCE

d. A euro is the Australian unit of money.

FALSE: EUROS ARE THE OFFICIAL CURRENCY OF THE EUROPEAN UNION.

In 1945 $10,000 bills were discontinued for public use by the Board of Governors of the Federal Reserve System.

TRUE

4 0

3 years ago

On April 2 a corporation purchased for cash 6,000 shares of its own $13 par common stock at $26 per share. It sold 4,000 of the

maxonik [38]

Answer:

Explanation:

The journal entries are shown below:

a. Treasury stock A/c Dr $156,000 (6,000 shares × $26)

To Cash A/c $156,000

(Being the purchase of treasury stock is recorded)

b. Cash A/c Dr $116,000 (4,000 shares × $29)

To Treasury Stock A/c $10,4000 (4,000 shares × $26)

To Paid in capital - Treasury stock $12,000

(Being treasury stock is sold at higher price and the remaining amount would be credited to the paid in capital account)

c. Cash A/c Dr $44,000 (2,000 shares × $22)

Paid in capital - Treasury stock $8,000

To Treasury Stock A/c $52,000 (2,000 shares × $26)

(Being treasury stock is sold at lower price)

5 0

3 years ago

4. What accounting assumption, principle, or constraint would use in each of the situations below?

Alex_Xolod [135]

Answer:

A.) Revenue Recognition

B.) Full disclosure

C.) Expense Recognition

D.) Historical Cost

Explanation:

Revenue Recognition principle maintains theta revenue is entered into the income statement onev it is earned or incurred without necessarily waiting till cash is paid.

Expense Recognition is usually related to when assets are being converted into expenses such that cost of asset is apportioned over the useful years of the asset.

Full Disclosure maintains the release or disclosure of information related ongoing business operations such as pending lawsuit during the disclosure of business financial statement.

Historical Cost: This involves value recorded on the balance sheet that portrays the original amount paid to acquire an asset at the time of purchase

6 0

3 years ago