Testee should make entry of Debit Cash.
<h3><u>
What is debit?</u></h3>
- A debit is an accounting entry that affects a company's balance sheet by increasing assets or decreasing liabilities.
- In basic accounting, credits that operate in the inverse direction of debits balance each other out.
- For instance, depending on the loan's terms, if a company takes out a loan to buy equipment, it will simultaneously debit fixed assets and credit a liabilities account. Sometimes "dr," the acronym for "debtor," is used to refer to debit.
Every double-entry accounting system has a debit option. The polar opposite of credits is a debit. Credits indicate money coming into an account, whereas debits represent money leaving it. As Debit Service Charge, Expense (3% of the revenue--$200) Credit Sales Revenue.
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Answer: The service cost component of a defined benefit pension plan is computed as the: <em><u>Present value of the change in pension liability from additional employee service. </u></em>
The service cost of a defined benefit pension plan is the change in the pension liability caused by one additional year of employee service. Also an expected return on pension plan assets does not cause an increase in the pension expense for a defined benefit plan.
Explanation:
Given that
Number of sales units = $26,000
Sale price = $12 per unit
Variable cost per unit = $7
Fixed cost = $80,000
So, the contribution margin per unit is
= Selling price per unit - variable cost per unit
= $12 - $7
= $5
And, the contribution margin in dollars is
= Number of sales unit × sale price - number of sales unit × sale price
= 26,000 units × $12 - $26,000 × $7
= $312,000 - $182,000
= $130,000
Uber mostly because there are a lot more people using uber then lyft but both jobs are good for money.
The given statement " One of the steps the U.S. Sentencing Commission delineated companies must implement to demonstrate due diligence is that a firm must develop and disseminate a code of conduct that communicates required standards and identifies key risk areas for the organization " is TRUE
Explanation:
The US Sentencing Commission is an official disciplinary body of the United States federal government.
The commission outlined 7 measures to show due diligence for businesses:
1. The company shall establish and disseminate a code of ethics outlining the necessary requirements and defining key danger areas for the organization.
2. Oversight of the system is provided by top-ranking agencies considered to conform with business regulatory and ethical requirements (such as an ethics director, vice president of operations, general advocates and so forth).
3. Nobody should be positioned in a position of authority with a proven potential for wrongdoing.
4. There will also be a training program (Ethics Training) for disseminating principles and procedures.
