2 years ago

Billed a customer 4500 for work completed to date log as what on t-account

Business

1 answer:

anygoal [31]2 years ago

5 0

Answer:

On t-account, it will be logged as Accounts Receivable $4,500 and Service Revenue $4,500.

Explanation:

a) Data and Analysis:

Accounts Receivable $4,500 Service Revenue $4,500

b) The company's assets have been increased by $4,500, and its Equity has been increased by $4,500 (through Service Revenue in Retained Earnings). When the customer pays for the work completed, the Cash account will be debited and the Accounts Receivable credited.

You might be interested in

On August 1, 2018, Trico Technologies, an aeronautic electronics company, borrows $20.0 million cash to expand operations. The l

Marina CMI [18]

Answer:

Debit Credit

Loan Receivable $20,000,000

Cash $20,000,000

Interest Receivable $666,666

Interest Income $666,666

Explanation:

Interest is calculated by multiplying 0.08 by 20 million and then dividing it by 2 because the loan is a 6 month loan. As Aug- Dec is 5 months we will record revenue of 5/6 of the interest.

7 0

2 years ago

The common stock of RMW Inc. is selling at $88 a share. It just paid a dividend of $4. Investors expect a return of 15 percent o

Nina [5.8K]

Answer:

12%

Explanation:

R=D1/P0+g

15 =4/88+g

15 =0.0454+g

15/15=0.0454/15 +g

g=0.3026

.15-0.03=.12

6 0

2 years ago

As a regional sales officer, one of brandon's job responsibilities is to process the yearly appraisal forms of his subordinates

kupik [55]

Career because it is his responibility

4 0

3 years ago

Please help??

kondaur [170]

I think c is the correct answer

3 0

3 years ago

Read 2 more answers

On average, someone with a Bachelor's degree is estimated to earn ____ times more than someone with a high school diploma.

Anna11 [10]

On average, someone with a Bachelor's degree is estimated to earn 84% more than someone with a high school diploma.

According to the analytics of National Center for Education Statistics (NCES), those who have college degrees can earn significantly more compared to those with only high school diploma.

6 0

3 years ago

Read 2 more answers