Answer and Explanation:
According to the given situation, the income statement and balance sheet as per parts is shown below:-
<u>Accounts Account Title Financial statements </u>
<u>For Part A</u>
Debit Accounts receivable Liability account Balance sheet
Credit Consulting service Income statement
revenue
<u>For Part B</u>
Debit Interest receivable Liability account Balance sheet
Credit Interest revenue Income statement
<u>For Part C</u>
Debit Accounts receivable Assets account Balance sheet
Credit Service Revenue Income statement
<u>For Part D</u>
Debit Janitorial expense Income statement
Credit Janitorial expense Liability account Balance sheet
Payable
<u>For Part E</u>
Debit Rent expenses Income statement
Credit Rent expenses Liability account Balance sheet
payable
Answer:
Letter a is correct. Distort incentives and this distortion causes markets to allocate resources inefficiently.
Explanation:
What happens is that when rates rise, it causes an imbalance in supply and demand, because at higher rates companies are forced to raise prices to offset tax costs, so the pass-through of consumer prices discourages consumption and as a consequence of less consumption, production also decreases, causing the inefficient allocation of market resources.
Answer:
a. 40%
Explanation:
The computation of the gross profit rate is shown below:
Gross profit rate = (Gross profit) ÷ (Sales revenue) × 100
where,
Gross profit = Sales revenue - cost of goods sold
= $225,000 - $135,000
= $90,000
And, the sales revenue is $225,000
So, the gross profit rate is
= ($90,000) ÷ ($225,000)
= 40%
It shows a relationship between the gross profit and the sales revenue
Answer: B
Before any actual work is begun you need to have a formal application so there’s something to be worked with.
Answer:
Not enough information to answer.
Explanation:
Although Bridget's salary has doubled we still cannot estimate the number of hours he will work next year, because there are no details of the roles and responsibilities that he has and after the increment is there any change in roles and responsibilities that he follows.