Answer:
Crimson Tide Corporation
Accounts Titles Debit Credit
1. Dividends $800
Cash $800
To record payment of dividends.
2. Accounts Receivable $3,400
Service Revenue $3,400
To record provision of services on account.
3. correct
4. Cash $400
Accounts Receivable $400
To record the receipt of cash on account.
5. Accounts Payable $1,200
Cash $1,200
To record payment on account.
Explanation:
The correct entries have been provided as above. The first step in recording transactions in the journal is to recognize the accounts involved. Then, identify which account is to be debited and which is to be credited, following basic accounting principle and based on the accounting equation of Assets = Liabilities + Equity.
Answer:
4) C) software that requires a high annual subscription whether you want the updates or not
Explanation:
Answer: True
Explanation:
A small business loan is known to be a loan given to an individual in order to start a business. The loan is used for running the day today activities of the business. The borrower that is the business owner reaches an agreement with the lender to repay the loan with interest over a specified period of time.
Explanation:
The computation is shown below:
It records the two items i.e
Tax Anticipation Notes Payable = $1,000,000
And, the expenditure is recorded for
= Tax Anticipation Notes Payable × tax rate × number of months ÷ total number of months in a year
= $1,000,000 × 4% × 6 months ÷ 12 months
= $20,000
Both the above items are debited for $1,000,000 and $40,000 respectively
