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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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A project requires an initial investment of $10 million today. If the cost of capital exceeds the project IRR, then the project
xz_007 [3.2K]

Answer:

Negative NPV.

Explanation:

present value of cost exceeds present value of revenue that is been assumed in the investment plan of the said company/firm.

Net Present Value describes one of the discounted techniques of cash flow used in capital budget to determining the viability of a project or an investment. It is seen to have a huge difference between the present flow of the firms; which is cash inflows and the present value of cash outflows over a period of time. Experts has tagged its primary advantage to be that it is seen to considers the concept of the time value of money.

3 0
3 years ago
Vince offers to buy a book owned by Sun-Hi for twice what Sun-Hi paid for it. She accepts and hands the book to Vince. Sun-Hi's
Llana [10]

Answer:

Vince and Sun-Hi's Book

With Sun-Hi's delivery of the book, the offer by Vince is accepted by Sun-Hi.

Acceptance of an offer is necessary to make a contract.

Explanation:

An offer by Vince is not a contract, but its acceptance by Sun-Hi without a counter-offer makes it a valid contract that can be enforced in law if other ingredients for a valid contract are present.  Acceptance establishes the agreement between Vince and Sun-Hi.  Once Sun-Hi accepts Vince's offer with valid considerations (the book and double the price), the agreement for a business transaction between them is consummated.  It is acceptance that completes the exchange of promises in this simple contract.

7 0
3 years ago
The zero-based budget is the best method of budgeting because:
Troyanec [42]

Answer:

The zero-based budget ensures that every dollar you make is assigned a specific purpose

Explanation:

Zero-based budge: It is also known as "zero-sum budget".

It refers to the process of creating a budget from nothing without using the previous year’s budget. It enables a firm allocate all its resources to expenses and debt payment.

Zero based budget ensures that every income made is allocated to a particular purpose without a remainder. The major goal of zero based budget is to ensure that revenue (income) less expenditure (spendings) is equal to zero.

That is, in zero based budgeting,

Income - expenditure= zero (0).

In other words,

income= expenses

5 0
3 years ago
Read 2 more answers
1. What physical skills develop in the first year?
RSB [31]

Answer:

Rolling on their tummy's, hand- eye coordination, standing up right, and being able to grasp their own shoes are some physical skills that are developed.

Explanation:

babies steadily gain weight and grow in length throughout this first year, often in growth spurts. Cognitive development . This means how the brain forms its abilities to learn and remember.

8 0
3 years ago
Jacobs Company has inventory of 15 units at a cost of $12 each on June 1. On June 5, Jacobs purchased 10 units at $13 per unit.
Crank

Answer:

The value of the inventory on hand is $210

Explanation:

Inventory on hand / purchased;

June 1 - 15 units at $12

June 5 - 10 units at $13

June 12 - 20 units at $14

total units on hand = 45 units

Sale - 30 units sold

units left on hand 15.

Since there are only 15 units left on hand, and the $12 and $13 inventory units have all been sold since they were in first before the inventory purchased on June 12 the value of the inventory on hand is 15 x $14 = $210.

8 0
3 years ago
Read 2 more answers
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