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Alika [10]
4 years ago
10

Unearned Fees appear on the ___

Business
1 answer:
Anna007 [38]4 years ago
3 0

Answer:

d

Explanation:

Unearned fees is recorded on a company's statement of financial position(balance sheet) as a liability. Unearned Fees is presented  as a liability because the revenue has still not been earned  and relates services owed to a customer. .

See IFRS 15 for further clarity..

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Solomon breaches his contract with Neal to purchase the 500 pairs of socks he had promised to buy. Neal is able to sell the 500
mixer [17]

Answer:

b. the difference between Solomon's contract price and the amount paid by Renny

Explanation:

Neal sues Solomon for damages as Solomon breaches his contract with Neal to purchase the 500 pairs of socks from him. Although he can sell the 500 pairs to Renny even then he was in loss only as he sells socks to Renny at a lower amount then it's actual cost.

In this case, Neal will be able to recover the difference between Solomon's contract price and the amount paid by Renny.

4 0
4 years ago
As a store manager, Leah has to play the role of negotiator, such as purchasing products at a fair price for her company. As she
zaharov [31]

Answer:

decisional

Explanation:

She is playing a decisional role in the above scenario since she has to make the necessary arrangements and arguments and select the best possible price for the given scenario.

7 0
3 years ago
Josh runs a kayak rental company in Florida keys. his career would fall under the education and training career cluster true or
wlad13 [49]

Answer:

The answer is False

6 0
4 years ago
Read 2 more answers
How does the federal government's fiscal policy affect the U.S. economy?(1 point)
MrRissso [65]

Answer:

I think its d

Explanation:

Want my number I bored

4 0
2 years ago
Splish Brothers Inc. purchased equipment for $18000 on December 1. It is estimated that annual depreciation on the computer will
Vesnalui [34]

Answer:

c. Depreciation Expense (Dr.)                  $3,600

                 Accumulated Depreciation (Cr.)              $3,600

Explanation:

At each year end, we make adjustments for depreciation to systematically allocate the cost of an asset over its useful life. The matching principle requires us to record a portion of an asset as an expense that relates to the revenue generated by that asset. Another purpose of recording depreciation is Taxation. Depreciation is a tax-allowable expense, and hence reduces corporate Income Taxes. We should also reduce the cost of an equipment each year because the asset losses its worth as the time goes on due to wear and tear.

The Journal Entry to record depreciation is:

Depreciation Expense (Dr.)                  $3,600

                 Accumulated Depreciation (Cr.)              $3,600

Depreciation Expense in charged as a Debit to Profit or Loss Statements, hence reduces our Profit and as a result Taxes. Whereas, Accumulated Deprecation is a contra-asset account. It has a credit balance and reduces the cost of asset.

6 0
3 years ago
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