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
lions [1.4K]
3 years ago
14

Which of the following entries would be recorded by a company that uses the cash basis method of​ accounting? A. Salaries Expens

e ​1,000 Salaries Payable ​1,000 B. Rent Expense ​1,000 Cash ​1,000 C. Cash ​1,000 Accounts Receivable ​1,000 D. Prepaid Rent ​1,000 Cash ​1,000
Business
1 answer:
liubo4ka [24]3 years ago
6 0

Answer:

B is the correct option, because it indicates that rent expense was only recognized in the books of account when paid for in cash.

Explanation:

Cash basis of accounting simply implies that an organization that adopts it recognizes income when received and expense when paid for in cash.

The above is different from accrual basis,where income is recognized when earned(when obligation is discharged by the seller) and expense when incurred(when the goods involved or services have been received)

All other options except B have something to do with payment on account,hence they are wrong.

You might be interested in
Yo<br>please solve this journal entries <br> as soon as possible ​
Elodia [21]

Answer:

1. Drawings A/c. dr. 15,000

To Cash A/c. 15,000

2. Cash A/c. Dr. 63,000

To Sales A/c. 63,000

3. Drawings A/c. Dr. 12,000

To Cash A/c. 12,000

4. Purchases A/c. Dr. 31,000

To Creditors A/c. 31,000

5. Drawings A/c. Dr. 16,000

To Purchases A/c. 16,000

6. Dalip Singh A/c. Dr.35,000

To Sales A/c. 35,000

7. Rent A/c. Dr. 22,000

To Bank A/c. 22,000

8. Purchases A/c. Dr. 19,000

To Cash A/c. 19,000

4 0
2 years ago
Airborne Airlines Inc. has a $1,000 par value bond outstanding with 10 years to maturity. The bond carries an annual interest pa
yanalaym [24]

Answer:Yield to maturity is 9.59%;  After tax cost of debt =7.672%

Explanation:

 A)   Yield to maturity ={ C + (FV-PV)/t} /  {(FV +PV)/2}

Where C – Interest payment    = $90

FV – Face value of the security

= $1000

PV – Present value/curent market value = $960

t – years it takes the security to reach maturity= 10 years

imputing the values and calculating,

yield to maturity ={ C + (FV-PV)/t} /  {(FV +PV)/2}

= $90 + (1000-960)/10} / 1000 + 960 /2

$90 + 4= $94 /980= 0.0959

therefore Yield to maturity is 9.59%

B)   After tax cost of debt =    Yield To Maturity  x (1 - tax rate)

=9.59% x (1-20%)= 9.59% x (1-0.2 )= 9.59% x 0.8 =

9.59 % x 80%=7.672%

4 0
3 years ago
Mark owns his own business and wants to make sure that his employees arrive on time each day and take breaks as specified. He ha
olga2289 [7]

Operant conditioning is used by Mark .

<h3><u>Explanation:</u></h3>

The instrumental conditioning is the other name given for operant conditioning. It can be considered as a method of learning in which  rewards and punishments are used for modification of certain behaviors. This forms a relativity between certain behavior and the consequences of that behavior.

In the example given, Mark has decided to give rewards in order to make his employees to reach office at time. Monthly rewards are given to those employees who did not take breaks and thus he is using the principle of Operant conditioning .

6 0
3 years ago
The three key functions of sensation are, respectively, _____.
Elina [12.6K]
The answer to this question is <span>detection, stimulation, and transmission
In this context, detection refers to the capability to catch the stimuli around us. Stimulation refers to everything around us that could trigger a certain response in us, and transmission refers to transform the stimuli that received into emotional output or actions.</span>
6 0
3 years ago
What is said to exist when total demand equals total supply in a transportation problem? an equilibrialized problem a balanced p
ss7ja [257]

Answer:

a balanced problem

Explanation:

  • In the transportation problem, when the total supply is greater than the total demand than we will say that the problem is unbalanced and
  • when total demand equals total supply in a transportation problem that then we will say that the problem is balanced.
  • so here here correct option is : a balanced problem
8 0
3 years ago
Other questions:
  • Economic models
    13·1 answer
  • Metlock Company is a multiproduct firm. Presented below is information concerning one of its products, the Hawkeye. 1/1 - Beginn
    10·1 answer
  • A perfectly competitive industry exists under which of the following conditions? I. The product sold is similar across firms. II
    7·1 answer
  • If revenue is $2000 and operating expenses are $6000, cash flow equals _____.
    15·1 answer
  • GDP data (billions of dollars)
    15·1 answer
  • For product costs associated with a particular product to be reported on the income statement: Group of answer choices The produ
    8·1 answer
  • Lily Products Company is considering an investment in one of two new product lines. The investment required for either product l
    8·1 answer
  • 1. Suppose two types of firms wish to borrow in the bond market. Firms of type A are in good financial health and are relatively
    15·1 answer
  • Which of the following is a BAD budgeting strategy to use if you want to save money at the grocery
    14·1 answer
  • which of the following does not describe a project management process group? group of answer choices executes the project manage
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!