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3 years ago

Consumers have the right to be protected against false and misleading information about goods and services.

1 answer:

3 0

The right answer for the question that is being asked and shown above is that: "TRUE." Consumers have the right to be protected against false and misleading information about goods and services. This statement is true as far as the consumer's right is concerned.

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jerome, incorporated, paid $8,850 to make a debt investment in trading securities of tedesco, incorporated. on december 30, (wit

Serjik [45]

The adjusting entry for the sale of debt securities by Jerome Incorporated on December 30, is as follows:

<h3>Adjusting Journal:</h3>

December 31:

Debit Cash $7,000

Credit Investment $6,500

Credit Gain on Sale of Investment $500

To record the sale of debt investment (part) and the gain therefrom.

<h3>What is an adjusting entry?</h3>

An adjusting entry is the journal entry made at the end of the financial year to ensure compliance with the accrual concept and the matching principle of generally accepted accounting principles.

An adjusting entry does not include the initial investment transaction made by Jerome Incorporated.

<h3>Transaction Analysis:</h3>

Dec. 30:

Cash $7,000 Investment $6,500 Gain on Sale of Investment $500

Learn more about adjusting entries at brainly.com/question/13933471

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4 0

1 year ago

On May 31, the following data were accumulated to assist the accountant in preparing the adjusting entries for Oceanside Realty:

Mama L [17]

Answer:

a. May 31

Dr Accounts Receivable 19,750

Cr Service Revenue 19,750

b. May 31

Dr Supplies Expense 8,150

Cr Supplies 8,150

c. May 31 Wages Expenses 2,700

Wages Payable 2,700

d. May 31

Dr Unearned Rent 3,000

Cr Rent Revenue 3,000

e. May 31

Dr Depreciation Expense 3,200

C Accumulated Depreciation-Office Equipment 3,200

2. ADJUSTING ENTRIES are entries that has already be planned for ahead or in advance while CORRECTING ENTRIES on the other hand are entries that comes up when necessary in order to correct errors.

Explanation:

1. Preparation of the adjusting entries required at May 31.

a. May 31

Dr Accounts Receivable 19,750

Cr Service Revenue 19,750

(To record unbilled fees)

b. May 31

Dr Supplies Expense 8,150

Cr Supplies 8,150

(12,300-4,150)

(To record supplies expense)

c. May 31 Wages Expenses 2,700

Wages Payable 2,700

(To record wages expense)

d. May 31

Dr Unearned Rent 3,000

Cr Rent Revenue 3,000

(9000/3 months)

(To record rent revenue)

e. May 31

Dr Depreciation Expense 3,200

C Accumulated Depreciation-Office Equipment 3,200

(To record depreciation expense)

2. ADJUSTING ENTRIES are entries that has already be planned for ahead or in advance while CORRECTING ENTRIES on the other hand are entries that comes up when necessary in order to correct errors.

7 0

3 years ago

Three firms are currently producing and selling in a market. When one of the three firms exits the market, economists expect tha

Tpy6a [65]

Answer: higher; lower

Explanation:

From the question, we are informed that three firms are currently producing and selling in a market. When one of the three firms exits the market, economists expect that there will be a rise in the equilibrium price while there will be a reduction in the equilibrium quantity.

This is because when one producer leaves, there will be less supply of the good that is sold, this will eventually lead to a rise in price.

5 0

3 years ago

Prepare journal entries to record the following four separate issuances of stock. A corporation issued 10,000 shares of $20 par

AleksAgata [21]

Answer: Please see explanation column for answers

Explanation:

Accounts and explanation Debit Credit

1 Cash $240,000

Common Stock (10,000 X 20) $200,000

Paid in Excess of Par- Common Stock

($240,000- 200,000) $ 40,000

(Being common shares issued for cash)

2. Organisation Expenses $36,000

Common Stock (5000x1) $5000

Paid in Excess of Par- Common Stock = 36,000-5000 $31,000

(Being common shares issued to promoters)

3 Organisation Expenses $36,000

Common Stock $36000

Since There is no stated value, paid in excess of par will not be calculated

4 Cash $98,500

Preferred Stock (2500 x 25) $62,500

Paid in Excess of Par- Preferred Stock

(98,500- 62,500) $36,000

(Being preferred shares issued for cash)

8 0

3 years ago

Which of these helps people keep track of the amount of money in their checking account?

vfiekz [6]

Checkbook registers keep track of any amount of money in their account

4 0

3 years ago

Read 2 more answers