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Nezavi [6.7K]
4 years ago
10

Journalizing reversing entries

Business
1 answer:
Anna11 [10]4 years ago
5 0

Answer:

                                         Dr.          Cr.

Adjusting Entry

December 31

Account Receivable     $8,500

Revenue                                       $8,500

Reversing Entry

January 1

Revenue                        $8,500

Account Receivable                     $8,500

Cash Receipt

January 15

Cash                               $14,500

Revenue                                        $14,500

Explanation:

On December 31 the accrued revenue is recording to comply with the accrual principle by debiting account receivable and crediting revenue account.

A reverse entry of accrued revenue was made on January 1 to eliminate its effect. it does not mean that company has negative revenue it is made to adjust the the cash receipt event of the transaction when its effect will be nil by a credit entry with.

Cash received on January 15 is recorded against the revenue.

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Answer:

The correct answers are: greater​ than; less than.

Explanation:

In the perfect competition model, the nature of the scale returns poses serious problems, whatever the case considered. Sise assumes that the returns of scale are increasing, the supply of companies is infinite; if they are constant, the offer is null, infinite or indeterminate (equilibrium case); if they are decreasing, the profit of the companies is strictly positive in the balance '. In the latter case, if they could do so, companies would be interested in dividing themselves, without any limit, into entities as small as possible.

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Answer:

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3 years ago
When Kira graduated with a degree in computer science, she started her software company. On her first day of operations, she pos
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Her expectation that all her employees would adhere to the laws applicable to the business

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By adhering to the laws applicable to her business, and expecting that her employees would follow suit, helped to protect the business from the liability related to breaching laws. Moreover, operating within the legal requirements serves as the first step towards operating as an ethical firm.  

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3 years ago
I need an ESSAY about DEDUCTIONS 5 sentence
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Answer: see explenation

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   A process of reasoning that moves from the general to the specific, in which a conclusion follows necessarily from the premises presented so that the conclusion can't be false if the assumptions are true. The most common expenses that qualify for itemized deductions include: Home mortgage interest. Property, state, and local income taxes. Investment interest expense.

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3 years ago
Hamilton International issues 5,000 shares of its $1 par value common stock to provide funds for further expansion. If the issue
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Answer and Explanation:

The journal entry for issuance of the shares is as follows:

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