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ser-zykov [4K]
2 years ago
5

Management Services, Inc. provides services to clients. On May 1, a client prepaid Management Services $60,000 for 6-months serv

ices in advance. Management Services' general journal entry to record this transaction will include aSelect one:a. Debit to Unearned Management Fees for $60,000.b. Credit to Management Fees Earned for $60,000.c. Credit to Cash for $60,000.d. Credit to Unearned Management Fees for $60,000.e. Debit to Management Fees Earned for $60,000.
Business
1 answer:
Sedbober [7]2 years ago
4 0

Answer:

d. Credit to Unearned Management Fees for $60,000.

Explanation:

In the given question, it is mentioned that the management services provide service to clients, and one client gives the advance amount of $60,000 to the management service.  

So, in case of advanced received by the customer, the journal entry would be  

Cash A/c Dr       $60,000

   To Unearned Management Fees    $60,000

(Being amount received in advance)

The asset account should be debited and the liabilities account should be credited.

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While sailboarding, Jolie is injured when Kirby carelessly crosses her path. Kirby’s insurance company offers Jolie $50,000 to r
ser-zykov [4K]

Answer:

Enforceable

Explanation:

-Jolie made a promise not to to proceed with legal claims thereafter in exchange for <em>monetary compensation</em> when she accepted the release agreement.

-The release agreement is legally binding and shields Kirby from future legal claims.

-The release is thus enforceable.

4 0
3 years ago
Which of the following statements is correct? Select one: a. Financial institutions in other countries generally are less regula
dexar [7]

Answer:

A

Explanation:

Domestic firms go global in order to enter unsaturated markets

Not all countries report their financial statements in US dollars

Firms can avoid labour laws that apply to foreign manufacturers by establishing manufacturing units in the country where the hurdles don't apply

Due to cultural differences, different marketing strategies have to be applied

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3 years ago
I am the head of a major company and it has been brought to my attention that
Sphinxa [80]
Step one investigate / question to figure out the problem. Step two once you figure out the problem brainstorm solutions \ enforce. Step three apply the solution in your work facility.
4 0
2 years ago
15 points!
nordsb [41]

Answer:

rent

Explanation:

The rent expense will be difficult to revise. Usually, the rent amount is contained in a tenancy agreement signed by both the landlord and the tenant. The rent amount does not change until the lease or tenancy agreement expires. Changing the rent amount would require the landlord's consent.

Due to the above reasons, rent is classified as a fixed cost. It remains constant in the short run.

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2 years ago
Read 2 more answers
An unfavorable fixed overhead volume variance can be due to all of the following except a.sales orders at a low level b.an incre
IgorC [24]

B is the correct answer.

An unfavourable fixed overhead volume variance can be due to all of the following except an increase in utility costs.

<h3>What is utility costs?</h3>

Utilities costs are the price associated with using services including electricity, water, waste removal, heating, and sewage. Throughout the reporting period, expenses are incurred, calculated, and accrued for, or payments are made. The term "Utility Costs" refers to all fees, surcharges, and other expenses related to providing any utilities that are necessary for the Premises, the Premises, or the Improvements, including, but not limited to, heating, ventilation, and air conditioning costs, costs associated with providing gas, electricity, and other fuels or power sources to the Premises, and costs associated with providing water and sewage services to the Premises.

To learn more about utility cost, visit:

brainly.com/question/8212077

#SPJ4

8 0
1 year ago
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