Answer and Explanation:
The Journal entry is shown below:-
Cash A/c Dr, $20,000
Accounts Receivables A/c Dr, $140,000
($145,000 - $5,000)
Inventory A/c Dr, $101,700
Equipment A/c Dr, $81,200.
To Allowance for doubtful Accounts $4,400
To Payne's Capital A/c $338,500
(Being assets contributed by partner in business is recorded)
For recording the assets contributed by partner in business we simply debited the cash account, accounts Receivables, Inventory and Equipment as increase the assets while we credited the Allowance for doubtful Accounts as it decreasing the assets and Payne's Capital as increasing the stockholder equity.
Answer:
$412,500
Explanation:
March
Cash receipts from sales on account for April = $400,000 * 75%
Cash receipts = $300,000
April
Cash receipts from sales on account for April = $450,000 * 25%
Cash receipts = $112,500
Total Cash receipts = Cash receipts from sales on account from March + Cash receipts from sales on account from April
Total Cash receipts = $300,000 + $112,500
Total Cash receipts = $412,500
Answer:
Explanation:
The main argument in favor regarding increasing minimum wage is that a higher wage will result into an increase in the standard of living of the people. Furthermore, a rise in the minimum wage can help in lifting people out I poverty. Due to higher wages and salaries, workers will have more money to cater for their families and meet their needs. Lastly, an increase in the minimum wage means that the government can reduce its expenditures on helping the low income earners and can therefore invest the money in other critical sectors of the economy.
The arguments against raising the minimum wage is that it can lead to inflation. Inflation in the rise in the price for goods and services. When there's an increase in minimum wage, sellers may increase the price of goods as there'll be more money to spend by households. Also, it can lead to losses of jobs as employersay have to cut down cost on order to be able to increase the wages of some workers and thereby may result in some workers being laid off.
Minimum wages lead to the reduction in the entry-level jobs that are available, and reduces the change of entry level graduates to get training, and lifetime income. According to Economists, minimum wages will result into decrease in the employment opportunities that are available for the youths and thereby create unemployment. Potential employees will miss out on the training that should have been done at the initial stage one is entering an organization.
Answer:
The answer is: C) There are two distinct performance obligations: the wireless service and the phone.
Explanation:
Performance obligation refers to a promise made by a company to deliver a good or service to a customer. A series of goods or services that are very similar and are transferred at the same time to a customer can be considered as one single performance obligation.
For example, the voice service and the data service are considered one single wireless service. But the cellphone is totally different so it has to be considered a separate performance obligation.
Answer:is D
Explanation:
The shape,size,design,and arrangement of its physical elements
