Answer:
a. Debit to Notes Receivable
Explanation:
Journal entry for selling an asset in return for notes receivable is;
Notes Receivable A/c Dr.
To Asset A/C
In the given case, an aircraft is sold in exchange for a note receivable. The journal entry would be:
12% Notes Receivable A/C Dr. $380,000
To Aircraft $380,000
(Being notes receivable received in exchange for aircraft sold being recorded)
Notes Receivable is an asset for the receiver as it represents amount which is due to be received. Whenever an asset account is debited, it increases their balance.
Aircraft is an asset. When an asset is sold, it is credited. Here the asset being a movable asset.
Information regarding Contacts Being aware of the best ways to get in touch with your customers is essential for establishing productive business relationships.Make sure to get their mailing addresses, cell phone numbers, email addresses, and home phone numbers.
Why is it crucial to safeguard customer information?
Protecting your business means safeguarding the personal information of your customers.You can safeguard your brand and market value, your reputation, and yourself from costly lawsuits by protecting customer privacy.
We ought to gather information from new customers when?
Collecting fundamental data would be even simpler for a B2C business.Make sure you get their name, gender, age, occupation, location, email address, phone number, and household income. Also get their location.This ought to be sufficient for creating a fundamental customer profile and communicating with them as needed.
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Answer:
Refund
Explanation:
After acceptance, the next step is for the government to review your refund. During the review process, they look for math errors on your return (extremely rare in TurboTax) and check if you owe back taxes, unpaid child support, or other debts. If they need to make any corrections, they may offset (reduce) your refund.
Answer:
e. The partner with a deficlt balance contributes personal assets only If those personal assets exceed personal lablties.
Explanation:
The Uniform Partnership Act is a provision that resolves conflicts in a partnership that is not addressed in the partnership agreement.
The Act is used mostly with small and informal partnerships.
It has been adopted in all states except Louisiana.
Partners must settle their debts in order to redeem their interest in the partnership.
UPA provides that partner with deficit contributes personal assets only If those personal assets exceed personal liabilities.
Well, first find a number that both denominators in the fraction share, then you multiply whatever number it takes to get that and then multiply the same number to the numerator. Hope this helps!
