Answer:
A. Accounts receivable will be debited by $7,200.
Explanation:
Accounts receivable is the payments that customers owe to a business. It arises when a business sells goods to customers of credit. Accounts receivables are current assets as they represent money that the business expects to receive in the short term.
Recording the transaction for accounts receivable follows the principle for recording assets transactions. An increase in assets is debited. The accountant will debit accounts receivable by an amount of $7200.
Answer:
Correct answer is $4,000
Explanation:
During the purchase on April 2, Icon Co. should recognize the gross amount of $4,000 purchases. Unless it is clearly stated in the problem that Icon Co. uses net method in recording discounts, said discount will be recognized and recorded upon payment of the purchases that falls into the discounted period of contract. Purchase returns will be recognized on the day the company made it.
Answer:
A-she can deduct her mileage for driving from her home to her office at the professional suite
B-she can deduct her home office expenses
Explanation:
As a general rule of thumb, every expenses that incurred for business operation can be deducted from your taxes. This rule can still applicable even if you're working from your home.
A car mileage <u>can only be deducted according to the proportion that is used for work</u><u> </u> since it's considered as an expense that must incurred in order for Gwen to do her business.
Lunch money is considered as private consumption that does not related to her business operation. This is why it's not tax deducible.
Answer:
The other criteria could be about the expected delay that is acceptable to customer in the processing time of the server.
Explanation:
If the customers are ready to accept a certain delay then it can help making the decision whether to keep the server permanently on, as it consumes high power.
Also if it is not used all the time then keeping it on all the time would be wastage of resources.
Thus, the scheduling of the expected time at which they use, and the acceptable delay would provide a proper criteria for this.
The inconsistency described above is known as cognitive dissonance. It is a theory that describes the tendency of an individual to find consistency of the cognitive functions. When this is not met, some behaviors and attitudes are to be changed in order to eliminate the inconsistency.
