Answer:
The correct journal entry for the following is as:
Accounts Receivable A/c........................ Dr $1,000
Catering Revenue A/c.......................Cr $1,000
Explanation:
The accounting journal entry for the following would be:
Accounts Receivable A/c........................ Dr $1,000
Catering Revenue A/c.......................Cr $1,000
As the catering service is provided by the company which worth $1,000, so the account of accounts receivable is debited as the money is owed to the company through the debtor and it is against the service, so the account of catering revenue is credited.
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Answer:
C. Accrued expense
Explanation:
Because the expense has already been incurred, but not yet paid, it is an accrued expense.
Answer:
Deluxe
Explanation:
The computation is shown below:
= Sales Value after further processing - further processing cost - sales value
For Premier
= $2,700 - $900 -$1,350
= $450
For Deluxe
= $630 - $225 - $430
= -$25
For Super
= $1,800 - $450 - $900
= $450
For Basic
= $180 - $45 - $90
= $45
As we see that out of four different products, the deluxe contains negative value which reflect that this product should not processed further that means other three products should processed further