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lawyer [7]
3 years ago
11

Which of the transactions listed here could be made into a recurring transaction? Select as many as are correct.(Select all that

apply)An expenseA customer paymentAn invoiceAn adjusting journal entry
Business
1 answer:
professor190 [17]3 years ago
6 0

Answer:

An expense, An invoice, An adjusting general entry

Explanation:

Well for the items provided,

Recurring transactions are those transactions which occur almost on a defined intervals. Recurring does not mean regular occurring, but it's occurring period is defined.

Therefore, Recurring Transactions are:

An expense = example monthly fixed payments of salary and wages, rent, utilities.

An invoice = this will be a regular transaction as issuing invoice to customers, is the daily business.

An adjusting general entry = as for like depreciation is fixed monthly,

Note: a customer payment is not recurring as it depends customer to customer as the payment is to be received or not, and at what interval it will be received.

Recurring transactions are:

An expense, An invoice, An adjusting general entry

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Hodor borrowed $1000. The bank charges him 5% interest per year. At the end of year, he paid $50 in interest. There was 2% incre
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Answer:

5%

Explanation:

nominal interest rate = 5%

real interest rate = nominal interest rate -  increase in GDP deflator (inflation rate) = 5% - 2% = 3%

The nominal interest rate is the interest rate earned or charged without considering the effects of inflation. The real interest rate adjusts the nominal interest rate against the year's inflation rate.

5 0
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The amount of earnings distributed to stockholders can be found in the income statement.
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Answer:

Unearned membership revenue of $9,000

Explanation:

The sales on credit during January 2017 was valued at $12,000 ($200 x 60).

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Since the season for which sales and collections were made starts March 1, 2017, when reporting the financial statements for the period ending March 31, 2017, the Membership Revenue would be $3,000 only and the balance $9,000 would be reported as Unearned Membership Revenue in the Balance Sheet with a further $9,000 reported in the Accounts Receivable to balance the records.

This shows that Unearned Membership Revenue of $9,000 is the only valid statement.

3 0
4 years ago
Instead of canceling their contract, William, Laverne, and Laverne's mother, Irma, form another contract in which they all agree
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Answer:

yes it is novation

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6 0
3 years ago
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In your company's management development program, there was a heated discussion between
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Answer:

The most sensible position is to understand that theory, while not practical in itself, can be immensely helpful when dealing with pratical matters.

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Without theory, managers have to rely too much on intuition, which can often fail.

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3 years ago
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Cash inflow from sale of investments                     $31 million

Cash inflow from sale of land                                $15.1 million

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<u>Cash outflow from purchase of patent                ($12.1 million)</u>

Net cash flows provided by investing activities    $8.9 million

Creative Sound Systems

Net cash flows from financing activities:

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