Answer:
a.
Date Account Title Debit Credit
XX-XX-XXX Accounts Receivable $12,040
Fees earned $12,040
b. No it would not have been.
If using the cash basis, the revenue would only be recognized when the cash is paid to the company. As the cash has not been paid, there would be no need to adjust for the revenue in the present period.
1 is social meadia 2 is advertising and 3 is publicity
The answer is LLC or also known as Limited Liability
Company. This type of hybrid legal entity has the characteristic of mixed
characteristics of a partnership, sole proprietorship and even a company in
which they have a limited liability that could also be similar to shareholders
in a corporation.
Answer:
$2,600 in the Accounts Receivable Dr./Sales Cr. column and $1,700 in the Cost of Goods Sold Dr./Inventory Cr. column.
Explanation:
If we assume that Maxie's Game World uses a perpetual inventory system, the appropriate journal entries should be:
Date XXX, merchandise sold on credit to client YYY, terms 1/10, n/30
Dr Accounts receivable 2,600
Cr Sales revenue 2,600
Dr Cost of goods sold 1,700
Cr Merchandise inventory 1,700
<span>These are monopoly market structures. This is where the person or company selling items does not face competition and is the only person or company selling the items with no competitor that has a close substitute. This is an imperfect kind of competition.</span>