Utility costs that relate to current year's operations but are not paid until the following year require:
- a debit to Utilities Expense
- a credit to Utilities Payable
<h3>What happens when expenses are not paid?</h3>
Expenses are meant to be paid within the accounting period that they occur and if this does not happen, then they are to be treated as current liabilities in the Balance sheet.
This means that the Utilities Expense account will be debited as is the norm but the account that will then be credited is the Utilities Payable account which is a current liability.
Options for this question:
(Select all that apply.)
- a debit to Prepaid Expense - Utilities
- a debit to Utilities Expense
- no journal entry
- a credit to Utilities Payable
- a credit to Cash
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The generic strategy in which an organization's advantage comes from being able to sell products at lower prices than its competitors is referred to as a low cost strategy.
<h3>What is low cost strategy?</h3>
Low-cost strategy is a pricing strategy characterized by low prices of goods and services using various saving methods. In a low cost strategy, the true winner is the company with the actual lowest cost in the market place.
The company here reduces real costs, which contributes to more customers and thus increases its sales.
Hence, the generic strategy in which an organization's advantage comes from being able to sell products at lower prices than its competitors is referred to as a low cost strategy.
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Answer:
D) represents the discount lost when a customer does not pay within the discount period
Explanation:
When a business uses the net method for accounting sales and purchases, they include all the possible discounts in the sales or purchases that they make. E.g. a store that sells $1,000 in merchandise and offers a 3% discount within 10 days (3/10, n/30) will record accounts receivable and sales revenue at $9,700 since it expects its customers to pay within the discount period.
Dr Accounts receivable 9,700
Cr Sales revenue 9,700
But if the customers do not pay within the discount period, accounts receivables and sales revenue must be adjusted. The sales discounts forfeited account should be used to adjust both accounts by increasing sales revenue and at the same time debiting accounts receivable fro $300.
Dr Accounts receivable 300
Cr Sales discounts forfeited 300
Answer:
17.60%
Explanation:
The total return , in this case, can be ascertained using the holding period formula provided below:
total return=(P1-P0+dividend+capital gains)/P0
Holding period return refers to the total return earned for holding the mutual fund investment for 1 year.
P1=market value of the fund now=$23
P0=the initial cost of the fund=$20
dividend=$0.22
capital gain= $0.30
total return=($23-$20+$0.22+$0.30)/$20
total return=$3.52
/$20
total return=17.60%
I believe the answer is: D. Decentralized decision-making results in buyers and sellers really engaging in commerce
Decentralized decision making refers to a decision making process which started from the group or individuals in high authority and distributed to the rest of the group. The decision that is made with this process tend to be made in order to address the demand of the buyers.