Answer:
Income statement.
Revenue 900
Expenses 1.000
Loss -100
Explanation:
(1) $900 worth of services were performed and billed but not collected at May 31
Accounting guideline requiring that revenues be shown on the income statement in the period in which they are earned, not in the period when the cash is collected.
(2) $1,000 of gasoline expense was incurred but not paid.
In accrual accounting, the revenue recognition principle states that expenses should be recorded during the period in which they are incurred, regardless of when the transfer of cash occurs
A. Unsubsidized federal loan
Hargrave professional group performs legal services on account. The effect of this transaction on the balance sheet equation for Hargrave is Increase in assets.
<h3>What is Asset?</h3>
An asset is considered a resource of the business which has an economic value in the future of the business and helps business activities to take place smoothly.
Hargrave professional group performs legal services on account which reflects the Buying and sales of goods and services on credit. So this refers to the incoming cash in the business which indicates the effect of this transaction on the balance sheet equation for Hargrave is an Increase in assets.
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Answer:
voluntary contribution $97150
Explanation:
data provided:
tax rate: 2.3%
reserve ratio- 8-10%
average payroll = $971,500
Assume voluntary contribution ="X
"
From the information given in the question we have
%
here we have taken max reserve ratio i.e. 10%
= $97150
we know that, from the question present contribution minus benefit is equal to $93,500
hence, extra contribution = 97150 - 93500 = $3650
extra contribution = $3650
Answer:
Curiosity. Technology develops at different rates and in different ways around the world.
A Sense of Impatience. Entrepreneurs need impatience in order to recognize inefficiencies
Sociability. It’s important for any entrepreneur to have a good network of like-minded people to
Explanation:
