Answer:
C) Debit Cash $2,750
Credit Accounts Receivable $2,750
Explanation:
When payment is received in respect of services rendered or goods sold in the past periods, the accounting rule is to debit cash or bank as the case may be and credit account receivable for the amount received. This is necessary because in period when transaction took place, revenue has been credited and account receivable debited.
The differences between Lila and Jillian's businesses are based on what they offer to the public, since one offers products and the other offers services, which makes their businesses different.
<h3>What is a product-based business?</h3>
A product-based business is a type of business in which the main purpose is to offer a specific product to the public, for example:
- Beauty products.
- Sport products.
- School products.
- Construction products.
<h3>What is a service-based business?</h3>
A service-based business is a type of business in which the main purpose is to offer a specific service to the public, for example:
- Satellite television service.
- Legal advice service.
- Sports training service.
- Nutrition service.
Based on the above, it can be inferred that the discussions between Lila and Jillian can include very varied topics because their businesses are different because they involve different value chains.
Learn more about business in: brainly.com/question/15826604
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Answer:
Egoism
Explanation:
Jack reason follows the philosophy of egoism where he is always trying to act for his own benefits (commission). Jack acts humbly, and pay attention to his customers because it is in his best interests to make them like him, the cloth(es) and buy his clothing item(s). Jack is actually after his self interest.
Both approaches fulfill a need in the market and aim to earn a sustainable profit. The main difference is that social entrepreneurship focuses beyond simply generating a profit, and measures its performance on the positive impact the business makes on society – whether social, cultural or environmental.
Answer:
a. The company must have had net income equal to zero in 2009.
Explanation:
If on its 2008 balance sheet, Sherman Books showed a balance of retained earnings equal to $510 million, and on its 2009 balance sheet, the balance of retained earnings was also equal to $510 million; then what is true is that the company must have had net income equal to zero in 2009.
Retained earnings is the profit amount or net income left over and taken back into the business after it has paid out dividends to its shareholders.
However it is unlikely that the company will pay out the entire amount it earns in a particular year but a percentage of earnings.
In the case of Sherman, it is unlikely that the company made a profit of $200 million and paid out every bit as dividends to shareholders but what is most likely is that there was no profit made for retention in 2009
