Answer: Credit, income statement
Explanation: Revenues refers to the amount of income a business receives from its customers by performing their core activities.
Credit balance in an account depicts that the relative account is your property and someone owes you that balance. As noted earlier, revenue is the amount earned by the company and is owed by the customers , therefore, it has a credit balance.
Income statement refers to the statement that depicts the performance of the firm for the year and is used to ascertain profit. Revenue is recorded in the income statement so that after deducting the expenses, income could be ascertained.
Answer:
No entry is made for this transaction
Explanation:
Given:
The liability side of a balance sheet:
In this scenario, Ziegler Corporation split his shares, a 2-for-1 stock split.
According to company law, there is no Particular entry will be made for split share, because it has no impact on the total equity amount.
Only a memo entry will be created to recognize this type of transaction.
Answer:
Because recording a deed as the grantee will allow the listed to legally hold the deed, plus having the physical deed is moreso evident of being grantee, unless the owner of the property has proof of the visitor forging his grantee permit he has no way of disputing it.
Explanation:
Answer:
B) They are employees.
Explanation:
They work for Sally. Sally hired Truly, Glen and Fred and pays them an hourly wage, and provides the tools that they use to perform their work. She also supervises and directs their job. They are not independent contractors due to the direct relation that exists between them and the fact that they obey Sally's orders.
