Answer:
No adjustment in records can be made until the asset is sold.
Explanation:
This is an example of cost concept. Assets are generally recorded at cost and remain on the accounting records at cost until they are disposed of. Future economic condition may change this appraised value, and therefore no adjustment in records can be made until the asset is sold.
To record On Jan 2, Callie Taylor received a $700 payment from a customer formerly billed for services performed. The journal entry to record this transaction would contain a debit to the cash account and a credit to the Accounts Receivable account.
<h3>What is Journal entry?</h3>
A journal entry exists as an act of keeping or creating records of any transactions either economic or non-economic. Transactions exist listed in an accounting journal that indicates a company's debit and credit balances. The journal entry can consist of several recordings, each of which exists either a debit or a credit.
A journal entry exists as a record of the business transactions in the accounting books of a business. A properly recorded journal entry consists of the correct date, amounts to be debited and credited, an explanation of the transaction, and a unique reference number. A journal entry exists as the first step in the accounting cycle.
Hence, To record On Jan 2, Callie Taylor received a $700 payment from a customer formerly billed for services performed. The journal entry to record this transaction would contain a debit to the cash account and a credit to the Accounts Receivable account.
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The question is incomplete and should state "Recent rains increase the demand for kayaks, as paddlers want to take advantage of the exciting river conditions on the Oconee river. New plastic technology makes kayaks less expensive to make, as a result, one should expect the equilibrium price of kayaks to purchased to fall and the equilibrium quantity of the kayaks to raise." The questions is also a true or false question. The answer will be false. It is false because both the equilibrium price will raise and so will the quantity. The increase in demand will will create a new curve in the demand which will raise the prices and the companies will make more kayaks.
Answer:
A.that many investors are selling their stocks in anticipation of lower profits
Explanation:
In stock market terminologies, a bear market is a selling market. If the traders' sentiments are to sell a stock, tell the market for the stock is referred to as a bear market.
Generally, when a company is performing well financially, its stock price will appreciate. Investors will buy its stocks in anticipation of increased dividends and selling the stocks at a higher price. Should investors anticipate a loss, they will start selling the stocks. Karen is concerned with the current bear market as it signals the stocks are likely to yield reduced earnings.
