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4 years ago

$300 utilities bill and immediately paid it. general journal entry to record this transaction will include a:

Business

1 answer:

Sedaia [141]4 years ago

7 0

Answer:

E. Debit to Utilities Expense for $300.

Explanation:

The journal entry to record the given transaction is shown below

Utilities expense Dr $300

To cash $300

(Being cash paid is recorded)

For recording this we debited the utilities expense and credited the cash as it increased the expenses and decreased the assets in order to posting it correctly

Therefore it would be debited to utilities expense

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Which country has a comparative advantage in the production of baseballs? explain.

bazaltina [42]

The US has a comparative advantage in the production of baseballs.

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2 years ago

Which economic system has economic roles that are passed from generation to generation

jeka57 [31]

It is traditional economics

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4 years ago

On December 1, 2018, your company borrowed $15,000, a portion of which is to be repaid each year on November 30. Specifically, y

tino4ka555 [31]

Answer:

Explanation:

The loan will be reported in the December 31, 2019 and 2018, balance sheets, is shown below:-

Balance sheet(Partial)

As of December 31

2016 2015

Current liabilities

Current portion of long term debt $3,000 $2,000

Long term liabilities

Long term debt $10,000 $13,000

Total liabilities $13,000 $15,000

On December 2018 we represent the current liability of $2,000 loan because of year 31 December 2019 within of one year and the left portion of the loan represent as long term liability because it is not within one year from the balance sheet.

On December 2019 Loan remains outstanding $13,000 ($2,000 repaid on November 2019) from this amount, on November 30, $3,000 is due. So, $3,000 should be represented as current liability and the left balance $10,000 represented as long term debt.

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4 years ago

Which of the following are functions of a small firm? I. The provision of goods and services. II. The offering of personalised s

Mumz [18]

Answer

i and ii

Explanation:

they provide goods (i)

because they are small it can be personalised

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4 years ago

Katie Malls has the following inventory transactions for the year:Date Transaction Number of units Unit cost Total costJan. 1 Be

Serggg [28]

Answer:

b) $2,350

Explanation:

The computation of the cost of goods sold under the LIFO method is shown below:

Since there is 60 unit sold

So,

= Number of units purchase × price per unit + opening inventory remaining units × price per unit

= 50 units × $40 + 10 units × $35

= $2,000 + $350

= $2,350

hence, the cost of goods sold under the LIFO method is $2,350

Therefore the correct option is b) $2,350

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3 years ago