The users which will be able to see account numbers if they are enabled in Quickbooks is:
- All users will see the account numbers.
<h3>What is Quickbooks?</h3>
This refers to an accounting software which is used to make accounting calculations and also take invoice which helps in the tracking of expenses, etc.
With this in mind, we can see that with the Quickbooks trial balance, if the account numbers are enabled, then all the users would be able to see it <em>as it is not restricted to</em> company admins or primary admins,
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Answer:
:)
Explanation:
The materiality threshold in audits refers to the benchmark used to obtain reasonable assurance that an audit does not detect any material misstatement that can significantly impact the usability of financial statements.
If a company has advance ticket sales totaling 2,000,000 for the uncomping football season. the receipt of cash would be journalized as Debit Cash, credit Unearned Revenue.
A receipt is documentation that something was purchased and paid for. If you plan to return something you purchased, you usually need it. On business trips, people keep track of their receipts so that their employers can reimburse them for any expenses they incurred. A less common usage of the word receipt is as a verb, as in "The clerk receipted my purchases," which means that the clerk provided written evidence that the things were paid for. Receipts are given out in business-to-business transactions as well as stock market transactions, in addition to the receipts that customers normally obtain from vendors and service providers. Both transactions on the stock market and business-to-business exchanges issue receipts. Furthermore, receipts are required as verification of some expenses for tax purposes.
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Answer:
E) Debit Accounts Receivable, $1,800; credit Legal Fees Revenue, $1,800
Explanation:
The Journal Entry is as follows :-
Accounts Receivable Dr, $1,800
To Legal fees revenues $1,800
(Being the billing is recorded)
Therefore for passing the journal entry, we debited the Accounts Receivable $1,800 with the credited Legal fees revenues $1,800 so that the proper posting can be done.
Answer:
$7,000
Explanation:
Depreciation: The depreciation is an expense that shows a reduction in the value of the fixed assets due to tear and wear, obsolesce, usage, time period, etc. It is shown on the debit side of the income statement. It is a non-cash item that does not affect the cash balance.
The computation of the depreciation expense for 2017 is shown below:
= (Original cost - residual value) ÷ (useful life)
= ($78,500 - $8,500) ÷ (10 years)
= ($70,000) ÷ (10 years)
= $7,000
In this method, the depreciation is same for all the remaining useful life
