Answer:
Crimson Tide Corporation
Accounts Titles Debit Credit
1. Dividends $800
Cash $800
To record payment of dividends.
2. Accounts Receivable $3,400
Service Revenue $3,400
To record provision of services on account.
3. correct
4. Cash $400
Accounts Receivable $400
To record the receipt of cash on account.
5. Accounts Payable $1,200
Cash $1,200
To record payment on account.
Explanation:
The correct entries have been provided as above. The first step in recording transactions in the journal is to recognize the accounts involved. Then, identify which account is to be debited and which is to be credited, following basic accounting principle and based on the accounting equation of Assets = Liabilities + Equity.
Answer:
$5,000
Explanation:
Consequential damages are damages that result from the one party in a contract not performing their part or breaching the contract.
In this case, New Data can sue Mona for consequential damages resulting from Mona not performing her contractual obligations. The damages that New Data can recover = $5,000 which is the profit from the lost sale. The $1,000 spent fixing the computer cannot be recovered.
Answer:
The cattle industry began in the far west and furnished the great plain areas with livestock. The cattle industry progressively lost its relevance because of the excessive westward expansion, resulting in competition for the industry. There was too much cattle, but not enough food and land to sustain such great populations of livestock.
Answer:
The correct answer is letter "A": The Ministry of Environment limits the number of trees that each lumbering firm can fell.
Explanation:
The case given relates to how the government set limits to the unregulated exploitation of natural resources to control its renewability. In that way, both the fishermen and the lumbering firms' activities were reduced to a rational number so that the resources they work with cannot be extinguished.
