I believe it’s b.
Sorry if it’s wrong I’m not sure
Answer and Explanation:
As we know that
The assets, expenses contains debit balance while the liabilities, revenues and stockholder equity contains credit balance
So based on this, the classifications are as follows
Particulars Type of account Normal balance Debit or credit Reason
a. Land Asset debit debit resources on the owners hand
b. Cash Asset debit debit resources on the owners hand
c. Legal Expense = expense debit debit consumption of cost
d. Accounts Receivable Asset debit debit resources on the owners hand
e. Dividends = Equity debit debit distribution made to owners
g. Notes Payable = Liability credit credit obligation made to creditors
h. Common Stock = Equity credit credit investment done by the owners
The economic policy that was most successful during the Great Depression is (D) increased government spending. It is a common view among economists that government spending on the war at least accelerated from the recovery of the Great Depression. Well, as always, other think that it didn't play a vital role in recovery.
Answer:
Account at December 31th, Year 2: 210,000
Explanation:
We work this using the following reasoning
beginning accounts receivable
<u>+ sales on accounts </u>
Total amount to collect
<u>- collection through the period</u>
ending accounts receivable
year 2
beginning accounts receivable 100,000
+ February 1st sale on account 40,000
+ November 1st sale on account <u>70,000</u>
total amount to collect 210,000
As we are not given with any data for collection we assume is zero.
Therefore ending AR balance:
210,000 - 0 = 210,000