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blagie [28]
2 years ago
10

On September 1, Best Company began a contract to provide services to Dildwood Company for six months, with the total $10,800 pay

ment to be made at the end of the six-month period. Equal services are provided each month. The firm uses the account Fees Receivable to reflect amounts due but not yet billed. What proper adjusting entry would Best Company make on October 31, the end of the accounting period (no previous adjustment has been made)
Business
1 answer:
SIZIF [17.4K]2 years ago
3 0

Answer and Explanation:

The journal entry is shown below;

Fees receivable $7,200 ($10,800 × 4 months ÷ 6 months)

           To Service fees earned $7,200

(being service fees earned is recorded)

Here the fees receivable is debited as it increased the assets and credited the service fees earned as it also increased the revenue

So, this journal entry should be recorded

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Hi guys, i need urgently some help with this question
klasskru [66]

Answer:

Accounting rate of return, also known as the Average rate of return, or ARR is a financial ratio used in capital budgeting. The ratio does not take into account the concept of time value of money. ARR calculates the return, generated from net income of the proposed capital investment. The ARR is a percentage return. Say, if ARR = 7%, then it means that the project is expected to earn seven cents out of each dollar invested (yearly). If the ARR is equal to or greater than the required rate of return, the project is acceptable. If it is less than the desired rate, it should be rejected. When comparing investments, the higher the ARR, the more attractive the investment. More than half of large firms calculate ARR when appraising projects.

Explanation:

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4 0
2 years ago
In a department meeting, Jamira engages in a thoughtful dissent aimed at constructively challenging her manager, Shivana, to ret
kvasek [131]

Answer:

The correct answer is a) Constructive resistance.

Explanation:

Constructive Resistance is the ability of structural elements to withstand the efforts to which they are subjected without breaking. It depends on many factors among which the material used, its geometry and the type of union between the elements stand out.

6 0
3 years ago
DEF Corporation had two issues of ordinary preferred stock with a $100 par value traded on the NYSE. One issue paid $5.56 annual
asambeis [7]

Answer:

5.93%

Explanation:

Cumulative Dividend for both (5.56+5.88)          $11.44

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6 0
3 years ago
What will a contingency note contain?
kykrilka [37]

Answer:

Contingencies are potential liabilities that might result because of a past event

Explanation:

Reasonably possible losses are only described in the notes and remote contingencies can be omitted entirely from financial statements.

4 0
2 years ago
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Veseljchak [2.6K]

Answer:

"Statistics is a board of method for maintaining knowledge. It is a simple and economical method to find the means and valuable data even for large numbers. In a managers life it is a very helpful tool to do analysis and making business growth values and make right forecast".

Explanation:

5 0
2 years ago
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