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Vadim26 [7]
3 years ago
13

Jefferson Cleaning signed an agreement with Willis Company on December 15 to provide cleaning services every Friday. The service

s will be billed to Willis Company on the fifteenth of each month at a rate of $15 per hour. As of December 31, Jefferson Cleaning had provided 15 hours of cleaning services to Willis Company. Which of the following is the required adjusting entry that Jefferson Cleaning should make on December 31?A. Debit Accounts Receivable, $225; credit Fees Earned, $225B. Debit Fees Earned, $225; credit Accounts Receivable, $225C. Debit Accounts Payable, $225; credit Fees Earned, $225D. Debit Fees Earned, $225; credit Accounts Payable, $225
Business
1 answer:
Vlada [557]3 years ago
4 0

Answer:

A) Debit Accounts Receivable, $225; credit Fees Earned, $225

Explanation:

Willis owes Jefferson $225 (= 15 hours x $15 per hour).

The accounts receivable is debited because it represents money owed to Jefferson. Since it is an asset account and it increases, it should be debited.

Fees earned is a revenue account and since it increases, it should be credited.

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d1i1m1o1n [39]
<h2>Plus changes in business inventories, plus purchases of new residential housing</h2>

Explanation:

Let us understand the term deeply what an "investment" is about.

  • It is the amount of money spent on something which would yield a better returns"
  • These are purchase of goods which may not be essential or not going to be used immediately but it is bought keeping future in mind
  • Those are also called an "asset" which can be sold in future "for higher profit returns"
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  • There are different types of investment and should be carefully chosen based on the returns and risks associated with that.
8 0
3 years ago
Consider firms that introduce new​ products, such as DVDs in 2001. When firms introduce new​ products, how do they typically det
lyudmila [28]

Answer:

D. estimate price elasticity of demand by experimenting with different prices.

Explanation:

Price elasticity of demand is an economic concept which is a measure of the sensitivity of customers willingness to buy something to its price. If the customers readily change their buying behavior with a change in price of the product, it would mean that the demand for the product is elastic.

When firms are introducing new products, they generally determine the best selling price by experimenting with different prices and observing the buying behavior of customers. Then the choose the price which produces the maximum amount of revenue for the firm, which entails the price of the product and number of units sold.

5 0
3 years ago
Ida moves to New York from Poland and wants to live in an apartment. However, she does not have sufficient money to buy one. Her
Alenkinab [10]

Answer:

Lease

Explanation:

Lease is the contract in which one party should convey the property in terms of land, services to the other party for a particualr time and in return they would paid the periodic payment i.e. of month wise normally

so as per the given situation since she does not enough money so she pay $25,000 to him for a year that means it a lease contract between them

3 0
3 years ago
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What’s the question to the problem
7 0
4 years ago
A product has a demand of 4000 units per year. Ordering cost is​ $20, and holding cost is​ $4 per unit per year. The​ cost-minim
lesya692 [45]

Answer:

A. 200 units per order

Explanation:

To solve this you have to use the <em>economic order quantity</em> formula:

Q_{opt} = \sqrt{\frac{2DS}{H}}

Where:

Demand = 4,000

S= supply cost = ordering cost = 20

H= holding cost = 4

Q_{opt} = \sqrt{\frac{2*4000*20}{4}}

Economic Order Quantity = 200

<em><u>How to Remember:</u></em>

Demand per year and order cost goes in the dividend.

Holding cost goes in the divisor.

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4 years ago
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