Answer:
January 10
Explanation:
According to the revenue recognition principle of accrual accounting, revenue must be recognized when the earning process is completed. In this case, the earning process was completed on January 10 when the services were performed. The related cash inflows are not relevant at the time of considering service revenue.
the journal entries should be:
January 10, 202x
Dr Accounts receivable XY
Cr Service revenue XY
January 20, 202x
Dr Cash 0.5XY
Cr Accounts receivable 0.5XY
February 24, 202x
Dr Cash 0.5XY
Cr Accounts receivable 0.5XY
Answer:
The answer is E. a unit of account; a medium of exchange
Explanation:
Because they allows different things to be compared against each other; for example, goods, services, assets, liabilities, labour income, expenses.
A unit of account is a monetary unit of measurement of value or cost.
And the second is a medium of exchange because $3 is being used to buy cone. It exchanged money for cone.
Answer:
The straight line depreciation for the first year is $24000
Explanation:
The straight line method of depreciation charges/allocates a constant amount of depreciation through out the useful life of the asset. The straight line depreciation expense for the year is calculated as follows,
Straight line depreciation = (Cost - Salvage Value) / Estimated useful life
Straight line depreciation = (135000 - 15000) / 5 = $24000 per year
Thus, the amount of depreciation for first year under straight line method is $24000
Not only hazard but child labor rise steeply. Between 1870
and 1900 the number of children – typically under 16 and paid a portion of what
adults made – grow from 700,000 to over 1.7 million. But why industrial
workplaces were so unsafe because there were insufficient laws that required welfare
be measured in the workplace, so most bosses decided that it was needless to
implement preemptive measures.
Answer:
The correct answer is letter "E": undercapitalization.
Explanation:
Undercapitalization refers to the situation in which an organization is unable to generate enough funds to cover its expenses. This leads to companies being unable to pay their creditors, thus, they have no other option but to request for loans to keep the business up and running. Small companies are frequently undercapitalized.
