Edison's general journal entry to record this transaction will include a Credit to Utilities Expense for $520.
<h3>What is a general journal entry?</h3>
It means the record of financial transactions and these entries are made in the order that the transactions occurred.
Mostly, it contain information about things like cash receipts and payments but can also contain inventory balances, purchases and sales etc
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Answer:
A) new buy
Explanation:
A new buy situation is basically when you have to purchase a product or service for the first time. Since the company hasn't purchased this product or service before, the buying team will have to define several aspects for the first time and that takes time (e.g. potential vendors, different product qualities, etc.). There is no precedent buying situation, so the entire process must be completed.
Answer:
The answer is iii. That is, value of money lies on the quantity of goods and services that a unit of money are able to exchange for
Explanation:
Money is valuable seemly because of its purchasing power. In other words, its value depends on how much goods and services a unit of currency may purchase. Subsequently, their purchasing power fluctuates following the variation in price level.
Once price level is going up, money has less value - that is a unit of money can purchase less products and services, or that currency is depreciated. Once price level is going down, money has more value - that is a unit of money can purchase more products and services, or that currency is appreciated.
I believe the answer is d
It depends on how much money you've earned. You have to work a minimum of 10 years. You get credits based on how much you made. The amount varies, but for about every $1300 you earn you get one credit towards your social security. Each year you get 4 credits max. After 40 credits you can claim it. Even if you change jobs or stop working your credit remains.