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
eduard
2 years ago
15

At the end of the current year, $12,040 of fees have been earned but have not been billed to clients.

Business
1 answer:
PSYCHO15rus [73]2 years ago
4 0

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.

You might be interested in
Dowd, Elgar, Frost, and Grant formed a general partnership. Their written partnership agreement provided that the profits would
goblinko [34]

Answer:

The answer is: Edgar will receive $37,000

Explanation:

  • Dowd's share of the company's losses is $80,000
  • Edgar's share of the company's losses is $60,000
  • Frost's share of the company's losses is $40,000
  • Grant's share of the company's losses is $20,000

But since Grant is not willing to give more money to the partnership to cover his losses, the $9,000 difference must be divided by the remaining three partners. So they will divide Grant's losses as follows:

  • Dowd's share of the Grant's losses is $3,600
  • Edgar's share of the Grant's losses is $2,700
  • Frost's share of the Grant's losses is $1,800

Then you add up all the losses the three remaining partners had:

  • Dowd' total losses $83,600
  • Edgar's total losses $62,700
  • Frost's total losses $21,800

So when the partnership was dissolved, Edgar should have received $100,000 (capital) - $62,700 (total losses) = $37,200

I selected answer A since they probably rounded down Edgar's share to $37,000 (nearest possible choice).

6 0
3 years ago
What is a corporation?
Vilka [71]

Answer: I Honestly think the answers D.

Explanation:

3 0
3 years ago
Read 2 more answers
If each of two competing monopolists undertakes equal advertising efforts to attract consumers away from the other, the total re
Umnica [9.8K]

Complete Question:

If each of two competing monopolists undertakes equal advertising efforts to attract consumers away from the other, the total result is

Group of answer choices:

A. they will both increase market share.

B. they will simply neutralize one another's efforts.

C. they will both lose market share.

D. they will both improve their industrial position.

Answer:

B. they will simply neutralize one another's efforts.

Explanation:

If each of two competing monopolists undertakes equal advertising efforts to attract consumers away from the other, the total result is they will simply neutralize one another's efforts.

A monopolist can be defined as an individual who is engaged in selling a unique product in a market without any competitor. Also, a monopolistic competition involves various firms engaged in monopoly competes with one other, but selling products that are unique and distinct from the other.

Hence, when two competing monopolists undertakes equal advertising efforts to attract consumers away from the other, this would result in one monopolist effort canceling or nullifying the effort of the other. This simply means that, it would have been as though none of them had made any effort at all because they were both involved in doing the same thing. Thus, making the market the same as it were originally prior to their advertising efforts.

8 0
3 years ago
A renter decides to leave a rental property and break their rental agreement. What will happen? A. The renter can be arrested fo
Sergio039 [100]
. The landlord can sue the renter
4 0
3 years ago
Read 2 more answers
The study of economics is really boring, and it has little to do with my daily life.
zvonat [6]

Studying economics can be really boring, because of the amount of technical terms that can be difficult for everyone to understand, but it is important to learn economics as we deal with it in our daily life.

All of our activities are related to economics, as economics is defined as the science that studies the economic process, the distribution of wealth and resources for satisfying human needs and well-being.

Through economics we can understand several variables that impact our lives, such as:

  • manage personal finances,
  • understand the world's economic scenario,
  • understand the news,
  • make investments.

Therefore, it is necessary for each individual to have a base of economic knowledge to better understand how and why things happen in the world and how they directly impact our lives.

Learn more:

brainly.com/question/17408105

7 0
3 years ago
Other questions:
  • Whats 59667.7×457284.9÷6789324.2
    13·1 answer
  • Paul is an analyst at an investment bank. He notices that many of the senior executives at his office go on European cruises, so
    7·1 answer
  • The following standard costs pertain to a component part manufactured by Bor Co.:
    9·1 answer
  • Identify the term that refers to agreements made between researchers and subjects, through the consent process, and how research
    8·1 answer
  • 5) Ryans Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours.
    14·1 answer
  • AT&T 10-year, $1,000 par value bond is selling at $1,158.91. Interest on this bond is paid semiannually.
    6·1 answer
  • If Jordan drives an average of 11,234 miles a year, how many miles will she have on her car in seven years?
    12·2 answers
  • Assume an after-tax savings interest rate of 7 percent and a tax rate of 28 percent. (a) Calculate the total rental cost and tot
    9·1 answer
  • Trying to solve every problem on your own shows that you are responsible true or false
    10·2 answers
  • If only one airline serves a town, does a monopoly exist? What about competition from other services?
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!