1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
fenix001 [56]
3 years ago
13

Are freight charges contra-asset?​

Business
1 answer:
densk [106]3 years ago
5 0
Yes it is hope that helps
You might be interested in
During 2020, Sam and Libby, a married couple, decided to sell their residence, which had a basis of $200,000. They had owned and
baherus [9]

Answer:

$50,000:$400,000

Explanation:

Based on the information given we were told that the Broker's commissions and other selling expenses was the amount of $50,000 in which They as well made purchased of a new residence in July for the amount of $400,000 which means that the recognized gain will be $50,000 the amount of Broker's commissions and other selling expenses and the adjusted basis of the new residence will be $400,000 which is the cost of purchasing a new residence.

6 0
2 years ago
The following transactions are July 2014 activities of Craig�s Bowling, Inc., which operates several bowling centers (for games
ololo11 [35]

Answer:

Explanation:

The journal entries are shown below:

a. Cash A/c Dr $15,000

         To Games revenue A/c   $15,000

(Being cash collected)

b. Cash A/c Dr $3,000

   Accounts receivable A/c Dr $5,000

                   To Sales revenue $8,000

(Being cash received for selling of equipment)

c. Cash A/c Dr $4,000

      To Account receivable  $4,000

(Being cash received for merchandise sold by the company)

d. Cash A/c Dr $2,500

       To Unearned revenue A/c $2,500

(Being deposit received for the upcoming fall season)

5 0
3 years ago
20. Otto's Tune-Up Shop follows the revenue recognition principle. Otto services a car on August 31. The customer picks up the v
Allushta [10]

Answer:

Option A-The revenue must be recognized on 31 August.

Explanation:

The accrual concept says that the income must be recognized when they are earned not when the amount is received and expenses when they are incurred not when they are paid.

So according to accrual concept, the entity must deliver its share to recognize sales that is servicing the car. When the entity will service the car then it should recognize the revenue otherwise not. So in accrual basis accounting the date of payment is irrelevant for recognition of revenue and expenses.

4 0
3 years ago
Read 2 more answers
IF COUNTRIES FIND WAYS OF IMPROVING THEIR FACTOR OF PRODUCTIVITY
Margarita [4]

Answer:

THEIR FACTOR OF PRODUCTIVITY will increase.

7 0
2 years ago
Both the agent and seller just signed the listing agreement. What must the licensee give to the seller now?
maw [93]

Answer:

Working with real estate agent brochure and agreement form.

6 0
3 years ago
Other questions:
  • QN=17 P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Foods became aware o
    13·1 answer
  • Criminal acts are prohibited only by federal statutes. <br><br> a. True <br><br> b. False
    6·1 answer
  • Where do most banks get the text to explain their calculations of interest?
    7·1 answer
  • Which of the following has the greatest impact on your cash flow?<br>​
    14·1 answer
  • In 2011 a georgia woman named catherine griffin was indicted by a federal grand jury on charges of computer fraud by accessing i
    14·1 answer
  • The price of gold is currently $1,200 per ounce. forward contracts are available to buy or sell gold at $1,400 per ounce for del
    7·1 answer
  • In a capitalist, market, or free-enterprise economy, which of the following answers the three basic economic questions?
    15·1 answer
  • PLSSSSSS I NEED THIS ASAP
    7·2 answers
  • Kim placed an order with her broker for 800 shares of each of three IPOs being offered this week. Each of the IPOs has an offer
    11·1 answer
  • At which stage of problem solving should you discuss the problem with colleagues?
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!