Answer:
Option A-The revenue must be recognized on 31 August.
Explanation:
The accrual concept says that the income must be recognized when they are earned not when the amount is received and expenses when they are incurred not when they are paid.
So according to accrual concept, the entity must deliver its share to recognize sales that is servicing the car. When the entity will service the car then it should recognize the revenue otherwise not. So in accrual basis accounting the date of payment is irrelevant for recognition of revenue and expenses.
Answer:
Qualified Long-Term Care.
Explanation:
Qualified Long-Term Care includes services that are required for diagnostic, preventive, therapeutic, curing, treating, mitigating, and personal care services that is given to a person that is chronically ill.
A person that is chronically ill is qualified for this insurance plan.
Because of this policy that is used by Eliza she can deduct the premiums she pays that exceed 10% of her adjusted gross income. Once she turns 65, she can deduct the premiums that exceed 7.5% of her adjusted gross income.
Answer:
A business idea is a concept that can be used for financial gain that is usually centered on a product or service that can be offered for money.
Explanation:
Answer:
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Explanation:
By definition the<em> atomic number </em>of an element is the<em> number of protons.</em>
The protons are the positevely charged particles in the nucleus of the atom.
The atomic number of an element is what uniquely identifies it. There are 118 known elements and all of them are represented in the periodic table. Then, there are 118 different atomic numbers.
The elements are arranged in the periodic table in increasing order ot atomic number.
For instance:
- The element with <em>atomic number</em> 1 is hydrogen (H). It is the first element in the periodic table, located in the upper left corner of the table. It has one <em>proton</em>. NONE other element has just one proton.
- The element with <em>atomic number</em> 2 is helium (He). It has two <em>protons</em>, is located at the upper right corner of the periodic table and NONE other element has just two protons.
- The element with <em>atomic number</em> 118 is Oganesson (Og). It is the last element in the periodic table. It is located in the bottom right corner of the periodic table. It has 118 <em>protons</em> and NONE other element has atomic number 118.
Answer:
a) Received a $795 deposit from a customer who wanted her piano rebuilt in February.
Account Debit Credit
Cash $795
Unearned Revenue $795
b) Rented a part of the building to a bicycle repair shop: $545 rent received for January.
Account Debit Credit
Cash $545
Rent Revenue $545
c) Delivered five rebuilt pianos to customers who paid $14,425 in cash.
Account Debit Credit
Cash $14,425
Service Revenue $14,425
d) Delivered two rebuilt pianos to customers for $7,600 charged on account.
Account Debit Credit
Accounts Receivable $7,600
Service Revenue $7,600
e) Received $6,400 from customers as payment on their accounts.
Account Debit Credit
Cash $6,400
Accounts Receivable $6,400
f) Received an electric and gas utility bill for $750 for January services to be paid in February.
Account Debit Credit
Utilities Expense $750
Utilities Payable $750
g) Ordered $1,140 in supplies.
Account Debit Credit
Supplies Expense $1,140
Supplies Payable $1,140
h) Paid $3,400 on account in January.
Account Debit Credit
Cash $3,400
Accounts Payable $3,400
i) Paid $16,900 in wages to employees in January for work done this month.
Account Debit Credit
Cash $16,900
Wage Expense $16,900
j) Received and paid cash for the supplies in (g).
Account Debit Credit
Cash $1,140
Supplies Payable $1,140
