Answer:
Debit cash $7800
Credit unearned revenue $7800
Explanation:
The amount of $7800 was received in cash on October 1. Therefore, the cash account will be debited with the $7800 received.
The corresponding credit entry of $7800 will be to the unearned revenue account since the revenue has not been earned. Revenue will be earned at the end of each month of the lease. This account will subsequently debited each time the revenue is earned i.e at the end of each lease month.
Answer:
A. True
Explanation:
For an incorporation to be effective, the above-mentioned must be duly considered.
Answer:
the tool reimbursements should not be treated as income on the service technicians.
Explanation:
Any Reimbursement cannot be taxed because there is no income generated if actual reimbursement is made. So in the given case Tools Reimbursement received by the Technicians are not taxable because it is the amount spend by them for providing the service and actual reimbursement is made. No income has been generated in this.
This practice will reduce the income of the government by two side. One is on the side of the company we are allowing them with a business expenses thereby reducing their tax liability by reducing the profits and other is the same cannot be charged to tax from the side of the worker because it is just a mere reimbursement of actual expenses.
A loan that is associated with a valuable asset that can be taken by the lender is a secured loan.
Ray's loan is unsecured.
Jack's mortgage is a secured loan.
<h3>What are secured and unsecured loans?</h3>
A secured loan is a loan that is backed up by an asset. If the borrower defaults on the loan,the lenfer can take possesion of the asset. An unsecured loan is a loan that is not backed up by any asset.
An unsecured loan is more risky than a secured loan. Thus, unsecured loans have a higher rate of interest.
To learn more about unsecured loans, please check: brainly.com/question/8347317
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Answer:
Material A = 234,000 lbs.
Material B = 39,000 lbs.
Explanation:
First we must determine how many units we have to manufacture:
expected sales + ending inventory - beginning inventory = 76,000 + 10,500 - 8,500 = 78,000 units to be manufactured
now we calculate the amount of direct materials used:
Material A: 78,000 units x 3 lbs. per unit = 234,000 lbs.
Material B: 78,000 units x 1/2 lb. per unit = 39,000 lbs.
