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2 years ago

A service was performed for a client with payment due in 30 days what accounts are affected

Business

1 answer:

marshall27 [118]2 years ago

3 0

Answer:

b) debit accounts receivable, credit capital

Explanation:

Performing service is part of normal business activities. It generates revenue for the business.

Once a service has been performed, revenue increases. Revenue is an equity account (it increases the owner's equity). An increase to an equity account is recorded by crediting the account.

The payment will be received in 30 days. This is an increase in accounts receivables ( asset account). An increase in assets is recorded as a debit.

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An x-ray machine at a dental offi ce is MACRS 5-year property. The x-ray machine costs $6,000 and has an expected useful life of

Brrunno [24]

Answer:

The correct answer is $2,637.31.

Explanation:

According to the scenario, the computation of the given data are as follows:

Cost of machine = $6,000

According to MACRs table depreciation for first 3 years are as follows:

Depreciation for 1st year = 20%, for 2nd year = 32% and for 3rd year = 19.2%

So, Cost of machine after 1st year = $6,000 - 20% × $6,000 = $6,000 - $1,200

= $4,800

Cost of machine after 2nd year = $4,800 - 32% × $4,800 = $4,800 - $1,536

= $3,264

Now, Cost of machine after 3rd year = $3,264 - 19.2% × $3,264

= $3,264 - $626.688 = $2,637.312

So, the book value at the end of three years = $2,637.31

3 0

3 years ago

From 1973 through 2016, the rise in the British price level relative to the U.S. price level is ____ with a rise in the value

babunello [35]

Answer:

the available options for this question are,

A. associated; does not

B. associated; also does

C. not associated; does

and the correct answer is option B. associated; also does.

the purchasing power means the ability of a currency unit to purchase a specific amount of goods and services and this is directly in line with the internal inflation rate of an economy.

Explanation:

8 0

3 years ago

If actual sales totaled $450,000 for the current year (30,000 units at $15 each) and planned sales were $540,000 (45,000 units a

torisob [31]

Answer:

Option B, $45,000, is the right answer.

Explanation:

Given actual sales = $450000

Actual units that is sold = 30000 units

Actual selling price = $15 per unit

Planned sales = $540000

Planned units = 45000

Planned selling price = $12 per units.

The difference between actual and planned sales due to unit price factor = change in units × change in price

= (45000 – 30000) × (15 – 12)

= $45000

Thus option B is correct.

4 0

3 years ago

SwimFit produces gear for swimmers, including suits, goggles, swim caps, and ear plugs. SwimFit wants to improve the quality of

Sphinxa [80]

Answer:

(E)

Explanation:

Since SwimFit wants to improve the quality of its goggles and other products inorder to achieve better quality than that of its competitor it is termed reverse engineering.

Any reproduction of another manufacturer's product after examination of how it is made is called reverse engineering.

An example of this scenario occurs in real life when a close competitor of a firm invents a new mobile phone with certain features. Within a few weeks the other firm might release their own mobile phone with similar or even better features.

8 0

2 years ago

Pacific Packaging's ROE last year was only 6%; but its management has developed a new operating plan that calls for a debt-to-ca

Firdavs [7]

Answer:

13.75%

Explanation:

Calculation for what will be the company's return on equity

First step

Asset Turnover Ratio= Net Sales / Total Assets ------(1)

Given Asset Turnover Ratio =2.7

=> 2.7 = 4,000,000/ Total Assets (from equation 1)

=>Total Assets = 1,481,481 ------(2)

Second step

ROE = Net Income / Equity

Net Income = (EBIT - Interest Charges) *(1-tax rate)

Net Income = (356,000 -168,000) *(1-35%)

Net Income = $122,200 --------(3)

Equity = Total Assets *(1-debt ratio)

Equity = 1,481,481*(1-0.4) = $888,889 --------(4)

From equation 3 and 4

ROE = Net Income / Equity

ROE= 122,200/888,889

ROE =0.1375*100

ROE=13.75%

Therefore ROE will be 13.75%

5 0

2 years ago