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Mice21 [21]
2 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]2 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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Owner of JavaJoint: Over the past year, the coffee store has become a daily hang-out for more and more teenagers. Many of our ad
lys-0071 [83]

Answer:

(C) offering new evidence implying that the status quo is not incompatible with the owner’s goal

Explanation:

Considering that the main goal of the owner is to maximize his revenue, the store manager provides evidence that shows that the teenagers spend the same amount that the average adult and that the store is getting more new customers that the ones that have lost which indicates that the situation they are having is making the store to go in the direction of achieving his goal.

6 0
3 years ago
The gas station on the edge of town has gas that is 30c/gallon cheaper than my local station. I buy 10 gallons of gas a week. As
Tems11 [23]

Answer:

No

Explanation:

Because its better u save 0.3*10=3 dollars but I value my time for $5 for that half an hour and hence its better not to go considering opportunity cost.

3 0
3 years ago
The typical horizontal flows of information in an accounts payable/cash disbursements process might include all of the following
harkovskaia [24]

Answer:

d. a copy of a receiving report is sent to the cashier

Explanation:

In the case of the horizontal flows with respect to the account payable or cash disbursements, it involved the invoice i.e. collected from the vendor, the voucher i.e. returned and the approved disbursement voucher is sent to the cashier but it does not involve the receiving report that sent to the cashier

Therefore the correct option is d.

3 0
3 years ago
A sole proprietorship is: Select one: A. the easiest type of business to set up B. the least profitable type of business to set
ryzh [129]

Answer:

it is an easiest type of business to set up because it requires small capital to start but has many disadvantages such as bearing all the risks alone.etc

5 0
2 years ago
7. Problems and Applications Q7 A dozen eggs cost $0.96 in December 2000 and $2.75 in December 2015. The average wage for worker
fredd [130]

Answer: 187%

Explanation:

The percentage increase in the price of dozen egg would be:

= ( 2.75-0.96) × 100/ 0.96

= 1.79 × 100 / 0.96

= 186.45%

The percent increase in the price of dozen egg = 187%

4 0
2 years ago
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