Answer:
Yes because Partridge Corporation is an accrual basis corporation
Explanation:
Since the charitable contribution was approved On December 27, 2019, and the directors of Partridge Corporation, is an accrual basis calendar year taxpayer, the authorized cash contribution of $10,000 to the American Cancer Association ought to be accounted for in the year it was made which is 2019 although the payment is eventually going to be made on April 13, 2020.
Accrual basis records transactions when they are earned (income) or incurred (expenses); and not when they are received (income) or paid for (expenses)
Answer:
- 1-a. Complete the Accounts Receivable and Allowance for Doubtful Accounts T-accounts to determine the balance sheet values. Disregard income tax considerations.
Accounts Rec T-Account
$ 306.673 Debit
$ 290.750 Credit
$ 7.059 Credit
$ 8.864 Debit Balance
Allowance for Doubtful Accounts T-Account
$ 7.059 Debit
$ 4.775 Credit
$ 2.284 Debit Balance
- 1-b. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the income statement for the current year.
$ 4.775 Dr Bad Debt Expense
- 1-c. Complete the amounts related to Accounts Receivable and Bad Debt Expense that would be reported on the balance sheet for the current year.
$ 2.284 Dr (Debit) Allowance for Uncollectible Accounts
$ 8.864 Dr (Debit) Accounts Receivable
Explanation:
Dr Accounts Receivable $ 306.673
Cash $ 290.750
Cr Accounts Receivable $ 290.750
Dr Allowance for Uncollectible Accounts $ 7.059
Cr Accounts Receivable $ 7.059
- Bad debt expense adjustment
Dr Bad Debt Expense $ 4.775
Cr Allowance for Uncollectible Accounts $ 4.775
- 1-b. Complete the amounts related to Accounts Receivable and
Bad Debt Expense that would be reported on the INCOME STATEMENT for the current year
Dr Bad Debt Expense $ 4.775
- 1-c. Complete the amounts related to Accounts Receivable and
Bad Debt Expense that would be reported on the BALANCE SHEET for the current year.
Dr Allowance for Uncollectible Accounts $ 2.284
Dr Accounts Receivable $ 8.864
Answer:
FREEMIUM
FREEMIUM APPLICATIONS THAT ALLOW MULTIPLE PURCHASES
FREEMIUM APPLICATION ADVERTISING
ASSOCIATE WITH A SPONSOR
VIDEO ADVERTISING
PROMOTIONAL SERVICES
PAID APPLICATIONS
Explanation:
FREEMIUM
It is one of the best ways to monetize your application by offering it for free. Users have to buy it at least once to receive all the benefits of the application.
FREEMIUM APPLICATIONS THAT ALLOW MULTIPLE PURCHASES
It is a freemium application that allows users to put more money while using the application.
FREEMIUM APPLICATION ADVERTISING
Advertising is the best idea for any application editor. The application is offered free of charge, if users can support advertisements or simply buy a premium version without having these disturbing ads.
ASSOCIATE WITH A SPONSOR
Now many applications have become partners for a particular sponsor and advertising is diminished.
VIDEO ADVERTISING
A short video can be shown to customers, which is more attractive.
PROMOTIONAL SERVICES
Necessary to be able to earn more money.
PAID APPLICATIONS
It is a business model that has the potential to earn money
Answer:
The deposit of $178,000 by Mr. Rho appears under Liabilities of Waterfield Bank as shown in the attached photo.
Explanation:
Note: See the attached photo for the T-account Illustration for Waterfield Bank after this transaction has occurred.
The the proceeds of the home sale deposited by Mr. Rho into his checking account at Waterfield Bank is liability to Waterfield Bank. Therefore, the deposit of $178,000 by Mr. Rho appears under Liabilities of Waterfield Bank as shown in the attached photo.
It means exactly what it says the customer is always right so no matter what you have to work with the customer to see what the problem is and to help them with what they need