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2 years ago

On the global grid the prime meridian is at ____. (1 point)

Business

1 answer:

jok3333 [9.3K]2 years ago

4 0

0 degrees longitude

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Résumés should be written in complete sentences.

lianna [129]

The answer is true.

4 0

2 years ago

A law firm received $2,000 cash for legal services to be rendered in the future. The full amount was credited to the liability a

Mashcka [7]

Answer:

Revenues to be understated.

Explanation:

The accrual basis says that revenues are recognized when earned and expenses are recognized when incurred.

In this case, if the legal services have been rendered at the end of the accounting period and no adjusting entry is made there is a situation of understated revenue.

When an accountant says that an amount is understated, it means two things: The amount is not the correct amount, and the amount is less than the true amount.

The adjusting entry that should be done is:

Debit to the liability account Unearned Service Revenue, and a credit to the revenue account Service Revenue.

8 0

2 years ago

In 2008, Elizabeth purchased a house for $ 155 comma 000 to use as her personal residence. She paid $ 31 comma 000 and borrowed

Zolol [24]

Answer:

$168,900

Explanation:

Basis for the house is the total of the initial cost + Cost of adding a room + Cost of the house paint + Cost of built-in bookshelves

= 155,000 + 11,000 + 1400 + 1500

= $168,900

6 0

2 years ago

A $150 petty cash fund has cash of $54 and receipts of $83. the journal entry to replenish the account would include a

Ksju [112]

The correct answer is option b, debit to cash short and over for $13. The petty cash fund is a debit account, meaning it increases with entries posted on the debit side and decreases with entries posted to the credit side. Replenishing the fund here means injecting cash to reach the initial $150. To obtain the replenishing amount, you just subtract the debit entries in the fund $54 and $83 from the $150, i.e. $150 - ($54 + $83) = $13.

3 0

2 years ago

Read 2 more answers

Alpha Company purchased, on account, 3,500 pounds of raw materials at $9 per pound on January 2, 2017. The production manager re

yaroslaw [1]

Answer:

January 2, 2017

Raw Materials $31,500 (debit)

Trade Payable $31,500 (credit)

January 15, 2017

Work In Process $22,500 (debit)

Raw Materials $22,500 (credit)

Explanation:

January 2, 2017

Raw Materials $31,500 (debit)

Trade Payable $31,500 (credit)

3,500 pounds × $9 per pound = $31,500

<em>Recognise the Asset - Raw Materials Inventory and Recognise the Liability - Trade Payable</em>

January 15, 2017

Work In Process $22,500 (debit)

Raw Materials $22,500 (credit)

2,500 pounds × $9 per pound = $22,500

<em>Recognise Cost of Manufacture - Work In Process and De-recognise the Asset - Raw Materials </em>

4 0

2 years ago