Answer:
Ayala Architects
General Journal
April 1
Debit : Cash $18,270
Credit : Common Stock $18,270
April 1
Debit : Salaries expense ($381 x 4) $1,524
Credit : Salaries Payable $1,524
April 2
Debit : Rent expense $914
Credit : Cash $914
April 3
Debit : Supplies $1,320
Credit : Accounts Payable - Burmingham Company $1,320
April 10
Debit : Accounts Receivable $1,929
Credit : Service Revenue $1,929
April 11
Debit : Cash $711
Credit : Deferred Revenue
April 20
Debit : Cash $2,842
Credit : Service Revenue $2,842
April 30
Debit : Salaries expense $1,524
Credit : Cash $1,524
April 30
Debit : Accounts Payable - Burmingham Company $305
Credit : Cash $305
Explanation:
Journal entry for the transactions have been prepared above.
Answer:
a worksheet
Explanation:
A work sheet can be regarded bad a Multiple column sheets in which
all the necessary information that are required in preparation of the financial statement is been systematically recorded. worksheet cannot be regarded as a permanent account or regarded as a part of a journal/ ledger.
Answer:
Equipment can be depreciated and the journal entry would be:
December 31, 202x, depreciation expense
Dr Depreciation expense 5,520
Cr Accumulated depreciation - equipment 5,520
Accumulated depreciation is a contra asset account that decreases the net value of a fixed asset.
On the other hand, land cannot be depreciated. Land must always be reported at its historical cost (purchase price) even if its fair market value increases or decreases over time.
Answer:
Limited.
Explanation:
Some purchase decisions are more important than others and the amount of effort we put into each differs.
Sometimes the decision-making process is done almost automatically; we seem to make snap judgements based on very little information.
-Limited Problem Solving: Usually, it also involves internal and limited external search, few alternatives, simple decision rules on a few attributes, and little post- purchase evaluation. In general, limited decision making involves recognising a problem, for which there are several possible solutions. There is an internal and limited amount of external search. Source: Solomon, Bamossy, and Askegaard,1999; Hawkins et al, 2004.
-Extended Problem Solving (EPS). Is usually initiated by motive that is fairly central to the self-concept, and the eventual decision is perceived to carry a fair degree of risk. The consumer tries to collect as much information as possible, both from memory (internal search) and from outside sources (external research). At this level, the consumer needs a great deal of information to establish a set of criteria on which to judge specific brands and a correspondingly large amount of information concerning each of the brands to be considered. Source: Solomon, Bamossy, and Askegaard,1999; Peter et al, 1999.
Answer: Please refer to Explanation
Explanation:
If your employer offers a retirement plan, don’t participate in it. Yes.
Having a retirement plan with your employer especially one in which you are a 100% vested is a drain on your income. It might have benefits in future when you retire but if you want to engage in financial planning, you need to have access to every penny and that includes the money going to the retirement plan.
Don’t bother to set target dates for achieving your financial goals. No
Setting a target date for various amounts in your financial goals enables you to work towards them with more determination. It is important to set target dates.
Pay credit card balances in full each month. Yes
Paying your credit card balance in full every month helps you avoid interest accruing as well as increasing your credit score. It is therefore very important to pay off the balance in full every month which will be easier as long as you charge things to it that you can afford.
Start saving early in life and save throughout your life. Yes.
The more you save the more you have to invest. This is why you should start saving early if you want to engage in financial planning. You need to formulate the determination to save every time. And don't just save for saving's case, save to invest.
