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PilotLPTM [1.2K]
2 years ago
7

Brown Company provided services to a customer and immediately collected $1,900 cash. Show how to record the transaction to the T

-accounts by completing the following sentence. Service Revenue would be
Business
1 answer:
hjlf2 years ago
8 0

Answer:

credited; right; debited; left

Explanation:

The journal entry to record this transaction is shown below:

Cash A/c Dr $1,900

     To Service revenue A/c $1,900

(Being the cash is collected)

It to be displayed in T accounts

For cash account

                                                               Cash

Debit side

Service revenue                    $1,900

For service revenue account

                                                    Service revenue

                                                                                      Credit side

                                                                                     Cash    $1,900

So, the cash account would be debited and would be displayed on the left hand side while the service revenue would be credited and  would be displayed on the right hand side

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2 years ago
You decide to change careers and have assessed your values, interests, and skills. What should you do next?
Tresset [83]

Answer:

Make a list of potential jobs and research them

Explanation:

7 0
3 years ago
You currently own 100 shares of stock in Beverly Brothers Inc. The stock currently trades at $120 a share. The company is contem
Gwar [14]

Answer:

No option is correct, since you will have 200 shares and each share should be worth around $60.

Explanation:

If the 2-for-1 stock split takes place then you will have 200 shares instead of 100. For every 1 share that you currently own, the corporation will issue another share.

Since the price of the shares was $120 before the stock split, after the stock split the price will be divided by two (the same proportion). So each new share will cost approximately $60.

In order for option 2 to be correct, the stock spit should have been 3-for-1.

8 0
3 years ago
Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a(n) __________ process
marysya [2.9K]

Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a (n) <u>accounting process</u>.

The accounting process is the set of steps that allows the economic operations of an entity or company to be expressed through financial statements.

This process is essential for any company since they will be able to see their expenses and income, and thus make projections and help it to minimize entry errors of the company.

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  • Finally, before the accounting process is closed, adjustments or modifications can be made that allow a reliable balance.

Therefore, we can conclude that Paul is responsible for recording sales transactions at his company. To minimize entry errors, Paul uses a (n) accounting process.  

Learn more here: brainly.com/question/20871705

5 0
2 years ago
Which of the following statements are correct concerning the present value of​ $1.00 five years from today discounted at​ 5%? I.
andre [41]

Answer:

1 and 3 option

Explanation:

Which of the following statements are correct concerning the present value of​ $1.00 five years from today discounted at​ 5%?  The present value is equal to​ $1.00 divided by 1.05 to the 5th power and If the discount rate were more than​ 5%, the present value would be smaller.

To calculate present value:The present value is equal to​ $1.00 divided by 1.05 to the 5th power, Therefore

Present value= the future value/(1+r)n    where n=5, r= 0.005 or 0.006

which will be 1/(1+0.05)5

                           =0.78

Note:The present value interest factor for a single sum is always equal to or less than 1 and the further in time, the smaller the present value interest factor

6 0
3 years ago
Read 2 more answers
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