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3 years ago

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]3 years ago

4 0

Answer:

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.

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To pay for your education, you've taken out $29,000 in student loans. If you make monthly payments over 10 years at 7 percent

Scrat [10]

Answer:

$169.07

Explanation:

Data provided in the question:

Loan amount = $29,000

Time = 10 years

Interest rate = 7% compounded monthly

Therefore,

Interest rate per period, r = 7% ÷ 12 = 0.583% = 0.00583

number of periods, n = 10 × 12 = 120 months

Now,

Loan amount = Monthly payments × [ { 1 - (1 + r )⁻ⁿ } ÷ r]

on substituting the respective values, we get

$29,000 = Monthly payments × [ { 1 - (1 + 0.00583 )⁻¹²⁰ } ÷ 0.00583]

$29,000 = Monthly payments × 171.53

Monthly payments = $169.07

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3 years ago

Global Petroleum negotiated a deal with Saudi Arabia in which Global Petroleum would build several refineries in Saudi Arabia an

Lostsunrise [7]

Considering the situation described above, when Global Petroleum negotiated a deal with Saudi Arabia, this is an example of <u>Bartering</u>.

<h3>What is a Bartering?</h3>

Bartering is a transaction agreement whereby both parties agree to pay with goods or services without using money.

Therefore, in this situation, when Global Petroleum negotiated with Saudi Arabia to receive oil as partial payment over 20 years. This is an example of <u>Bartering</u>.

Hence, in this case, it is concluded that the correct answer is <u>Bartering</u>.

Learn more about <u>Bartering</u> here: brainly.com/question/1462751

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3 years ago

A married couple, ages 55 and 52, with no children, are both employed at DEF Corporation. They have asked for an evaluation of t

posledela

Answer:

B. The portfolio should be reallocated based on their stated investment objective, reducing the cash and bond percentage by 50% and using the proceeds to buy a small or mid-cap growth mutual fund

Explanation:

Since this couple has stated investment goal of development with moderate hazard, a portfolio that just has about 25% values and that has 75% fixed pay protections is improper - since it will give pay; yet little development. The long haul bond and money designation ought to be decreased and supplanted with development stocks to more readily adjust the portfolio. Decision C is unreasonably theoretical for a "preservationist financial specialist." Choice D is to some degree valid since this couple is putting resources into their manager's stock - yet since the stock just speaks to 8% of the client's all out portfolio, this isn't a too much enormous rate.

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3 years ago

True or false: The National Cancer Society is an example of an organization that does not need to use marketing.

Ipatiy [6.2K]

False i believe is the correct answer,

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2 years ago

Creative Solutions Company, a computer consulting firm, has decided to write off the $13,780 balance of an account owed by a cus

wlad13 [49]

Answer and Explanation:

The journal entry for recording the bad debt expense is shown below:

a. In case of when direct write off method is used

Bad debt expense $13,780

To Account receivable-Wil Treadwell $13,780

(Being bad debt expense is recorded)

Here the bad debt expense is debited as it increased the expenses and credited the account receivable as it decreased the assets

b. In case of when allowance method is used

Allowance for doubtful accounts $13,780

To Account receivable-Wil Treadwell $13,780

(Being the allowance is recorded)

Here the allowance is debited as it increased the assets and credited the account receivable as it decreased the assets

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3 years ago