1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kykrilka [37]
3 years ago
12

GreenLawn Co. provides landscaping services to clients. On May 1, a customer paid GreenLawn $60,000 for 6-months services in adv

ance. GreenLawn’s general journal entry to record this transaction will include a __________.
Business
1 answer:
devlian [24]3 years ago
3 0

Answer:

See answer below

Explanation:

Journal entry will be as follows.

Debit Cash Account $60,000

Credit Payables/Service Prepayment Account $60,000.

As service is being rendered on a monthly basis (monthly income = \frac{60,000}{6}  = 10,000), the company will make the following journal entry.

Debit Payables/Service Prepayment Account $10,000

Credit Revenue $10,000.

You might be interested in
The study of economics is really boring, and it has little to do with my daily life.
zvonat [6]

Studying economics can be really boring, because of the amount of technical terms that can be difficult for everyone to understand, but it is important to learn economics as we deal with it in our daily life.

All of our activities are related to economics, as economics is defined as the science that studies the economic process, the distribution of wealth and resources for satisfying human needs and well-being.

Through economics we can understand several variables that impact our lives, such as:

  • manage personal finances,
  • understand the world's economic scenario,
  • understand the news,
  • make investments.

Therefore, it is necessary for each individual to have a base of economic knowledge to better understand how and why things happen in the world and how they directly impact our lives.

Learn more:

brainly.com/question/17408105

7 0
3 years ago
Why is it important that the military be able to evacuate supplies and people when necessary? When might they need to do this?
Marrrta [24]
It is important for the military to be able to evacuate supplies when necessary because then they can ensure the supplies will be safe the same with people. they do this during a war, major storms, and when plagues happen. 
5 0
3 years ago
Assume that you hold a well-diversified portfolio that has an expected return of 11.0% and a beta of 1.20. The total value of yo
diamong [38]

Answer:

hope this helps

Assume that you hold a well-diversified portfolio that has an expected return of 11.0% and a beta of 1.20. You are in the process of buying 1,000 shares of Alpha Corp at $10 a share and adding it to your portfolio. Alpha has an expected return of 21.5% and a beta of 1.70. The total value of your current portfolio is $90,000. What will the expected return and beta on the portfolio be after the purchase of the Alpha stock? Do not round your intermediate calculations.

Old portfolio return

11.0%

Old portfolio beta

1.20

New stock return

21.5%

New stock beta

1.70

% of portfolio in new stock = $ in New / ($ in old + $ in new) = $10,000/$100,000=

10%

New expected portfolio return = rp = 0.1 × 21.5% + 0.9 × 11% =

12.05%​

New expected portfolio beta = bp = 0.1 × 1.70 + 0.9 × 1.20 =

1.25​

Explanation:

7 0
2 years ago
Required information Subsequent Events-Two Types Read the overview below and complete the activities that follow Oftentimes a CP
Drupady [299]

Answer:

Explanation:

Situation                                                            Type Logic

During the audit, a customer with a large A/R balance at year end declares bankruptcy Type 1 Facts were available on balance sheet date

a lawsuit…...thereafter Type 1 Facts were available on balance sheet date

A flood damages….after year end Type 2 Facts were not available on balance sheet date

Conditions that….after the balance sheet date Type 2 Facts were not available on balance sheet date

Additional evidence….balance sheet date Type 1 Facts were available on balance sheet date

7 0
3 years ago
On October 15, 2018, Jon purchased and placed in service a used car. The purchase price was $25,000. This was the only business
Anika [276]

Answer: Total deduction= $2,528

Explanation:

25000*0.2*0.8=4,000  

Auto maximum = $3,160

Total deduction = 3,160*0.8

Total deduction= $2,528

5 0
3 years ago
Other questions:
  • When asked to memorize the 15 letters, c i a c b s a b c f b i i r s mary reorganized them into cia, cbs, abc, fbi, and irs. mar
    6·1 answer
  • Owen Cartwright has joined a real estate syndicate that bought an office building in downtown Orlando, Florida. What type of inv
    10·2 answers
  • In general, firms should use their weighted average cost of capital (WACC) to evaluate capital budgeting projects because most p
    13·1 answer
  • A broker has placed his own funds in the trust account along with the funds of several clients. He has written records of all fu
    6·1 answer
  • "An expenditure made in connection with a machine being used by a company to produce inventory should be expensed immediately if
    15·1 answer
  • What are the four types of consumer goods?
    5·2 answers
  • Quincy lives on pretzels and seafood salads. The price of pretzels is 1 dollar per bag and the price of seafood salads is 2 doll
    7·1 answer
  • Ezra runs a gyro stall at the local farmers' market. He would like to expand and open his own shop downtown. He has made the cha
    12·1 answer
  • Which scenario below is an example of complementary products, based on their cross-price elasticity?A. Bananas and lettuce, with
    11·1 answer
  • The most important useful measure of cost is
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!