Answer:
The correct option: Debit Unearned Legal Fees and credit Legal Fees Earned
Explanation:
An UNEARNED FEES can be defined as the amount of money a company or an organization receives from their customer in advance for the services the company or the organization has not yet rendered which is why unearned fees is often recorded as a liability in the balance sheet until when the service has been rendered by the company to the customer before it will be reported as asset in the balance sheet while LEGAL FEES EARNED on the other hand is in form of an income statement account that help to show and report the amount of money or revenue amount that was been earned for service rendered to the customer.
I believe that the strategy you are using when you only read the title, section headings, and captions is called the SQ3R reading method. The abbreviation stands for survey, question, read, recite, and review, and it helps you better understand your assignment.
If the united states government lowers the income taxes on the wealthiest americans, while decreasing welfare payments to the poorest americans, the result will likely be <u>increase</u><u> in</u>efficiency and in <u>inequality</u> in the united states
<h3>What is equality?</h3>
Equality can be defined as the way in which wealth or income are distributed equally or when their is equal wealth distribution in a society.
If the united state of America intend to reduce the income taxes of the richest people and reducing the poor people welfare payment the outcome of this action is that it will lead to inefficiency while increase equality or reducing inequality.
Therefore the result will likely be <u>increase </u>efficiency and in <u>equality</u> in the united states
Learn more about Equality here: brainly.com/question/1296408
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Answer:
option $13.30
Explanation:
Data provided in the question:
Units sold = 50,000
Revenue = $850,000
Fixed cost = $210,000
Variable cost = $140,000
Selling and administrative costs:
Fixed = $300,000
Variable = $45,000
Tax rate = 40%
Production and sales for the next accounting period = 40,000
Now,
Total Contribution margin = Revenue - Variable cost
= $850,000 - $140,000 - $45,000
= $665,000
Therefore,
For 40,000 units
Contribution margin per unit
= ( Total contribution margin ) ÷ (Number of units sold )
= $665,000 ÷ 50,000
= $13.30
Note : Contribution margin remains the same in per unit
Hence,
For 40,000 sales the Contribution margin per unit will be option $13.30
Answer: Assets are listed in descending order of liquidity
Explanation:
According to accountant principles, the assets are always listed starting with the most liquid asset. It has the special purpose of helping to the shareholders and company owners to know what assets are easily sold and become in cash flow. The most liquid asset is always the cash, it is the first in the list. Commonly the second asset listed is the inventory, then we have ththe realizable value ( it includes bonds, stocks and other stock market elements), followed by the elements available for sell, at the end we can find listed long term resources including fixed assets and intangible assets.