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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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Unearned fees appear on the a.balance sheet as a current liability b.balance sheet in the current assets section c.income statem
forsale [732]

Answer:

a.balance sheet as a current liability

Explanation:

Unearned fee refers to money received from a customer for services not yet done,  or for goods not delivered. It is a prepayment for work not yet done. Unearned fees are reported in the accrual accounting system. The economic activity that results in earning revenue has not been executed.

Unearned fees create an obligation for the business to honor. The business becomes indebted to the customer who has made a prepayment. An unearned fee is thus a debt and has to be recorded as a liability. In practice, the service or goods paid for in advance should be delivered within the same period. Therefore, the unearned fee is recorded as a current liability.

7 0
4 years ago
Which of the following is NOT a possible reason why Uber opted to expand its on-demand transportation services into foreign mark
Veseljchak [2.6K]

Answer:

D

Explanation:

Uber can invest in foreign markets for other reasons stated except to build the profit sanctuary necessary to wage guerrilla offensives against global challengers endeavoring to invade its home market

3 0
4 years ago
Which category of GDP does each of the following items count in? Enter one of the following letters to correspond to consumption
elena-14-01-66 [18.8K]

Explanation:

-Nissan produces a car at its Tennessee plant in December, but does not intend to sell it until after the end of the year __DNC__ .

<em> This transaction does not count because GDP is measured in one year. Nissan sell will be accounted in the next year GDP. </em>

-An auto parts maker buys an idle textile plant in North Carolina with the intent of converting it to a distribution center_I__.

<em>This is private investment of the auto parts maker. </em>

-The U.S. Army rents a warehouse to store surplus equipment __G__.

<em>This is a expense of the U.S government. </em>

-A state employees' pension fund in California buys $10 million in corporate bonds__G__.

<em>This is a expense of the U.S government. </em>

-A local bakery buys 500 pounds of flour to make bread __I__.

<em>This is private investment of the bakery. </em>

-A doctor buys a painting to hang in his office waiting area from an artist on Etsy __I__

<em>This is private investment because if his office looks better maybe this will attract more clients. </em>

-A family rents a beach house for a week's vacation __C__.

<em>This is household’s consumption. </em>

-A retiree in Chicago receives a Social Security check from the U.S. Treasury__G___  

<em>This is an expense of the U.S government</em>.

-A factory in the U.S. produces chemicals and sells them to a firm in Canada __NX___ .

<em>This fits in the net exports account as an export.  </em>

7 0
3 years ago
Activity-based costing for a service company
inysia [295]

Answer:

A.

Room and meals=  $240 per day

Radiology =  $215 per image

Pharmacy =  $50 per physician order

Chemistry lab = $80 per test

Operating room = $1,000 per operating room hour

B.

<u>Patient Putin</u>

Unit  = $1,585

Total = $10,640

<u>Patient Umit</u>

Unit  = $1,585

Total = $6,025

Explanation:

Activity rate = Total Overhead Cost / Total Activity

Room and meals=  $240 per day

Radiology =  $215 per image

Pharmacy =  $50 per physician order

Chemistry lab = $80 per test

Operating room = $1,000 per operating room hour

<u>Patient Putin</u>

                               Unit       Total

Room and meals   $240      $1,440

Radiology               $215        $860

Pharmacy                 $50       $300

Chemistry lab          $80          $40

Operating room  $1,000    $8,000

Total                     $1,585   $10,640

<u>Patient Umit</u>

                               Unit       Total

Room and meals   $240       $960

Radiology               $215       $645

Pharmacy                 $50       $100

Chemistry lab          $80       $320

Operating room  $1,000    $4,000

Total                     $1,585   $6,025

6 0
3 years ago
Which of the following decisions is mainly a warehouse decision?
4vir4ik [10]
A. best location for storage facilities is your correct answer
6 0
3 years ago
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