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arsen [322]
3 years ago
10

A company received a bill for newspaper advertising services, $350. The bill will be paid in 10 days. How would the transaction

be recorded today?
a. Debit accounts payable $350, credit cash $350
b. Debit advertising expense $350, credit cash $350
c. Debit accounts payable $350, credit advertising expense $350
d. Debit advertising expense $350, credit accounts payable $350
Business
1 answer:
creativ13 [48]3 years ago
6 0

Answer:

d. Debit advertising expense $350, credit accounts payable $350

Explanation:

The advertising expense should be recognized when the economic event occurs, in this case recibing the bill, independently of its payment. This is done with a debit because expenses increase by debits. The credit account is a liability: account payable, which represents an increased on liabilities.

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Lola owns a one-half interest in the Lenax LLC. Her basis in this ownership interest is $22,000 on December 31, 2016, after acco
Marina CMI [18]

Answer:

The answer is Lola should acknowledge a $3,000 from this distribution.

Explanation:

From the question given, we say that, Lola should acknowledge a $3,000 from this distribution.

Recall that

The Cash Distributed  cash = $ 25,000

The Basis in this ownership of interest is  = $22,000

The Gain = $3,000

Lola basis after the distribution is zero.

Therefore Lola should accept this distribution of a $ 3000

7 0
3 years ago
2.3 The Ledger and Posting
blsea [12.9K]

The net change in the Cash account balance from these three transactions is $30,000

What is the company's net change in cash account balance?

The net change in company's cash balance is the excess of its cash inflows from sources minus its cash outflows from all sources, in other words, the net change in cash balance from the three transactions is the funds raised long-term debt issuance and the amounts paid for equipment and raw materials

net change in cash balance=$200,000-$150,000-$20,000

net change in cash balance=$30,000

Find out more cash flow statement on:brainly.com/question/14942025

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8 0
2 years ago
What is the number one reason that it projects fall behind schedule or fail?
daser333 [38]
Poor planning or poor project management is the number one reason why projects fall behind schedule or fail. We all know how important it is to plan before acting, even more in the area of ​​management of the different areas of the project, it is important to define the objectives of the project from day one, defining them will mean success or failure of the project and from this point to advance in the planning of all areas before starting to do any work.
7 0
3 years ago
Hector is a married, self-employed taxpayer, and this year he paid $3,000 for his health insurance premiums (not through an exch
Korvikt [17]

Answer:

The answer to this question is option  B. Hector's spouse participates in an employer-sponsored plan but Hector is not eligible to participate in this plan.

Explanation:

Hector can deduct the cost of the premium for AGI if Hector's spouse participates in an employer-sponsored plan but Hector is not eligible to participate in this plan.

7 0
3 years ago
Most goods in the economy are _____.(A) a natural monopolies. (B) public goods.(C) common resources. (D) private goods.
Angelina_Jolie [31]

Answer:

(D) private goods.

Explanation:

Goods is a material that, in economic theory, satisfies people's wishes and provides usefulness. Goods and services are different. In economic theory all goods are considered material, but in reality such goods as information (or information) are non-material goods. For example, although Apple is a tangible asset among other commodities, news is related to non-material class goods and can only be perceived through tools such as Computer and Printing. Material goods such as apples differ from non-material goods as information in terms of the impossibility of a person to keep the other physically, while the former occupies a certain physical area. Intangible goods differ from services in the sense that they are transferable or sold. Price elasticity also differentiates the types of goods. Elastic goods are commodities where there are major changes in quantities due to small changes in the price and, therefore, relate to the family of substitute goods; For example, consumers will prefer to buy pencils, such as pencil shields. Intangible goods are few and no substitutes, such as racing tickets, artist's original work, and medical supplies such as insulin. Complementary goods are more elastic than substitutes. It depends on which commodity is substituting or complementary to other goods.

Private goods are both excludable and rival in consumption. Most goods in the economy are private goods. A private commodity or goods is a product to be purchased for consumption and prevents the consumption of another by one person. In other words, when there is competition between people for the sake of good, good is something special or private, and consuming good prevents one from consuming it.

5 0
3 years ago
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