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Juliette [100K]
3 years ago
10

Rimble Graphic Design receives $2,750 from a client billed in a previous month for services provided. Which of the following gen

eral journal entries will Trimble Graphic Design make to record this transaction?
A) Accounts Receivable 1,850
Cash 1,850
B) Cash 1,850
Unearned Design Revenue 1,850
C) Cash 1,850
Accounts Receivable 1,850
D) Accounts Receivable 1,850
Unearned Design Revenue 1,850
E) Cash 1,850
Design Revenue 1,850
Business
1 answer:
Lana71 [14]3 years ago
6 0

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.

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Rina's Performance Pizza is a small restaurant in Dallas that sells gluten-free pizzas. Rina's very tiny kitchen has barely enou
ki77a [65]

Answer: variable input; fixed input

Explanation:

Based on the information given, in the short run, these workers are variable inputs, and the ovens are the fixed inputs.

Fixed inputs are the inputs that can't be easily changed that's increased or reduced in the short run while variable inputs can be increased or reduced easily.

Since Rina cannot change the number of ovens she uses in her production of pizzas in the short run, they're fixed input. The workers are variable input.

7 0
2 years ago
A case on the subject of free speech on the internet comes before a wisconsin state trial court. it is a case of first impressio
ICE Princess25 [194]

Answer: d. survey data from the local community.

Explanation:

In deciding the case the Judge there are methods to use such as cases from other jurisdictions ( as this is a case of first impression), the values of their society and its customs, as well as Public policy.

One thing that should not be used in survey data from the local community. People will always have opinions on a matter of law and a lot of the time this is based on what they feel not what is legal. This is why juries do not just and sentences down immediately, they wait until they have been presented with legal arguments so they may be wiser legally.

Survey data has a very high chance of being devoid of this knowledge and also will be biased. It is best the Judge avoids such.

8 0
3 years ago
Beresford Inc. purchased several investments in debt securities during 2020, its first year of operations. The following informa
horsena [70]

Answer:

Check the explanation

Explanation:

Kindly check the attached image below to see the step by step explanation to the question above.

5 0
3 years ago
Dr. Faulk's Outdoor Market wants to raise $2 million by selling 20-year coupon bonds at par. Comparable bonds in the market have
Greeley [361]

Answer:

The coupon rate should be: 6.62%.

Explanation:

* Yield to maturity calculation:

With the comparable bond in the market, we have:

+ Semiannual coupon payment = 2 million x 6.3% / 2 = $63,000

+ Price of the bond = 2,000,000 x 96.5% = $1,930,000

=> 1,930,000 = [ (63,000/YTM) x ( 1 - (1+ YTM)^(-40) ] + [2,000,000/(1+YTM)^40] <=> YTM = 3.31%.

* Coupon rate calculation:

To raise $2 million with the duration for 20-year, the present value of the coupon streams from the Bond the company offers plus the present value of the face value repayment in 20 years time; discounting at YTM, should equal to $2 million:

we have:  

2,000,000 = [ (Coupon payment/3.31%) x ( 1 - 1.0331^(-40) ] + [2,000,000/1.0331^40] <=> Coupon payment = $66,200.

=> Coupon rate = Semiannual coupon payment / Face value x 2 = 66,200/2,000,000 x 2 = 6.62%

8 0
3 years ago
Based on this income statement for Company XYZ for the year ending December 31, 2014, what adjustment would need to be made to N
RoseWind [281]

Answer:

a) Adjustment of (16,000) in the operating section.

Explanation:

While preparing the operating activities section of the cash flow statement, the net income, depreciation expense, amortization expense, loss on sale of an asset should be added and the profit on sale should be deducted

So there is the loss of $30,000 that should be added and the gain on sale should be deducted i.e. $46,000

So there is an adjustment of -$16,000 in the operating activities section

6 0
2 years ago
Read 2 more answers
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