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Lina20 [59]
3 years ago
15

On March 1, a designer received a check for $7,500 from a customer for services to be provided after the customer chose a color

scheme for the first floor of her house. On July 31, the designer completed the design work for this customer. Prepare the July 31 journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
Business
1 answer:
lora16 [44]3 years ago
7 0

Answer:

unearned service revenue 7,500 DEBIT

       service revenue 7,500 CREDIT

Explanation:

the job is complete on July 31th

so <em>we write-off the unearned service reveue</em>

and <em>we recognize the service revenue </em>for the whole amount of the contract

The cash receipt occurs on March 1st so w edon't haveto post anythign related to cash on July 31th.

the unearned revenue account is used first because the business has the obligation of perform the job or return the cash. So it is a liablity until the job is completed

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The answer is B final answer
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GDP is the market value of: A. Resources (land, labor, capita, and entrepreneurship) in an economy in a given year B. All final
frutty [35]

Answer:

B) All final goods and services produced in an economy in a given year

Explanation:

That's the definition of GDP, gross domestic product. By virtue of the name, it's the total product (output) of a given economy. It's measured through the values of all final goods and services, so as to not count the same good or service twice.

3 0
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Vaseline, the world's most famous—and priciest—brand of petroleum jelly, wants to improve its financial performance (i.e. revenu
ohaa [14]

Answer:

Please consider the following explanation

Explanation:

Vaseline can improve its financial performance by doing some product differentiation, as the rest 15% are also selling petroleum jelly but at much lower costs than Vaseline, and to convince its customers to spend extra bucks to buy Vaseline, it needs to provide something extra.

Vaseline can incorporate extra ingredients like aloevera, or turmeric, etc, i.e. the beauty or health fashions prevalent in the market this information can be obtained by a thorough research of the beauty blogs available online.

Once the product has something extra, Vaseline can go ahead and market its product better based on the benefits of the product differentiation, and hence steam away market from the remaining 15% and increase its financial performance.

6 0
3 years ago
What effects does this journal entry have on the accounts? decrease cash and increase land decrease cash and decrease land incre
mezya [45]

Answer:

Decrease cash and increase land

Explanation:

The transaction is:

Account             Debit        Credit

Land                $105,000

Cash                                  $105,000

Purchased land for business.

Both land and cash are assets: they are debited when they increased, and they are credited when they decrease.

Because cash was used to purchase the land, cash decreases and land increases.

3 0
3 years ago
Paradise Corporation budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels (in uni
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Answer:

485,000 units

Explanation:

The computation of the number of units manufactured is shown below:

= Number of units sold + ending finished goods units - beginning finished goods units

= 515,000 units + 87,000 units - 57,000 units

= 485,000 units

Basically we added the ending finished goods units and deduct the beginning finished goods units to the number of units sold                      

7 0
3 years ago
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