The general journal entry made by First Rentals on purchase of office supplies on credit will include a Credit to Accounts Payable.
<h3>How are office supplies on credit recorded?</h3>
Office supplies on credit means office supplies bought on credit by the firm.
In conclusion, the general journal entry made by First Rentals on purchase of office supplies on credit will include a Credit to Accounts Payable.
Read more about Accounts Payable
<em>brainly.com/question/1347024</em>
Answer and Explanation:
The journal entry to record the given transaction as follows:
Uncollectible account expense or bad debt Dr $5,670
To Account receivable $5,670
(being uncollectible account expense is recorded)
Here the expense is debited as it increased the expenses and credited the account receivable as it decreased the asset
Answer:
Net Income is $485.4
Explanation:
According to the accounting equation
Assets = Equity + Liabilities
So putting value of assets = 3,525, and assuming equity = x, then:
3252 = Liabilities + x
Liabilities = 3252 - x
Now putting this value in the debt to equity formula,
Debt / Equity = 0.34
(3252 - x) / x = 0.34
3252 - x = 0.34x
1.34x = 3252
x = 3252 / 1.34 = $2427 This is the value of equity.
Now
Return on Equity = Net Income / Equity
and return on equity is $2427, so by putting values in the equation, we have:
0.20 = Net Income / 2427
Net Income = $485.4
Answer:
The correct answer is the option A: True.
Explanation:
To begin with, the contracts inside the law are regulated by the Anglo-America common law that defines a contract as the agreement between two or more parties in which they establish the basis and principles of the agreement and the clauses that could cause to end the contract. Moreover, a contract is also part of the civil law and therefore that it does not implicate the public as a whole in any way due to the fact that in order to be a correct contract the parties must accept the bond between only them and nobody else.
Answer:
Flexibility mean you're more flexible about doing something. For example you could have flexible working hours which would mean you can work alot of the time like you can bend easily around when you work and compromise means you're wiling to meet in the middle so an agreement made that makes everyone happy.
