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Mice21 [21]
3 years ago
12

John Grey owns Grey's Snow Plowing. In October, he collects $12,000 cash for 6 commercial accounts for which he will provide sno

w plowing for the next three months. John recorded the cash collection as an unearned revenue. To record the adjusting entry in November, when $4,000 has been earned:
o Debit Unearned Plowing Revenue
o Credit Plowing Revenue Earned
Business
1 answer:
mote1985 [20]3 years ago
4 0

Answer:

The correct answer is Debit Unearned Plowing Revenue

Explanation:

Earlier the journal entry would be recorded as:

Cash A/c.................................................Dr    $4,000

    Unearned Plowing Revenue A/c..............Cr   $4,000

But the correct entry that should be recorded is:

Cash A/c.................................................Dr    $4,000

    Plowing Revenue Earned A/c..............Cr   $4,000

So, in order to pass the adjusting entry, we should debit the Unearned Plowing Revenue in order to reconcile or nill the same account by debiting.

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Medicaid is federal health insurance program for senior citizens regardless
malfutka [58]

Answer:

False

Explanation:

Medicaid is for all-ages (not just senior citizens) and for low-income Americans.

3 0
4 years ago
Read 2 more answers
What was the greatest percentage loss in your total portfolio?
Natasha2012 [34]

-2.99% was the greatest percentage loss in total portfolio.

Subtract the purchase price from the current price and divide the result by the asset's purchase prices to determine the net gain or loss in the portfolio. The above method can be modified to determine a portfolio's percentage return. You will base your calculations on the overall value of your portfolio rather than the stock's acquisition price and market value.

A stock portfolio is a selection of equities you purchase in the anticipation of a profit. You can become a more robust investor by assembling a varied portfolio that spans several industries.

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Complete Question:

You'll now need to do some math to compute the percentage change in the value of your total portfolio. For each monthly statement, add up the value of the two funds to get your total portfolio value at the end of that month. Compute the month to month percentage change of the value of your portfolio by subtracting the beginning value from the ending value and then dividing it by the beginning value . What was the greatest percentage loss in your total portfolio?

3 0
1 year ago
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in ________ marketing.
viktelen [127]

Answer:

It is called a Business to Business or B2B Marketing

Explanation:

B2B or Business to Business Marketing simply occurs when a business organisation decides to going into transaction with an other business organisation. The two businesses can be within the same locality or not. A criteria is that a B2B marketing involves a commercial transactions which would be to the benefit of both parties.

The <u>opposite of B2B is B2C (Business to Consumer) marketing, this is the commonly known type of marketing where a consumer/individual</u> patronizes the products of a manufacturer or business organisation.

B2B will usually occur when a company needs certain products or materials to complete its own finished goods and this can be purchased from another organisation that has been adjudged to be a producer of same.

It could also occur, when a business is required to take on the services of another business for instance in audit cases.

In the case of the question, the global positioning system is a finished product of the electronics company required by the car manufacturer to complete his own finished product (the car). Hence, the B2B marketing.

5 0
3 years ago
.Who were some of the primary decision makers that led to the illegal sales activities?
mixas84 [53]

The CEO John Stumpf and the former retail banking head were some of the primary decision makers that led to the illegal sales activities.

Sales are sports related to promoting or the number of products offered in a given targeted term. The transport of a provider for a price is likewise taken into consideration a sale. A sale is a transaction between two or more events in which items or services are exchanged for cash or different property. within the financial markets, a sale is an settlement between a customer and vendor regarding the rate of a protection and its transport for agreed-upon reimbursement. In fashionable commercial enterprise operations, income confer with any transactions where money or value is exchanged for the ownership of a good or entitlement to a service. In an accounting context, income refers to a corporation's sales earned from the sales of services or products (net sales).

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4 0
1 year ago
A company purchased $400 of office supplies on account during May. All the supplies were used in May, and the account was paid d
rusak2 [61]

Answer:

What would the impact of these transactions be during May on

  • (1) the balance of cash NO EFFECT, the account balance was not paid in May
  • (2) cash-basis net income: NO EFFECT, the account balance was not paid in May
  • (3) accrual-basis net income: DECREASE, even though the debt was not paid, the expense had already been recognized, therefore, the accrual-basis net income decreases

5 0
3 years ago
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