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blagie [28]
3 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]3 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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Svetach [21]
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5 0
3 years ago
10 percent partner in a partnership that incurred a $4 million business loss this year. Jahlil has no other business activities.
sashaice [31]

Answer:

$250,000 and $500,000

Explanation:

According to the tax laws there is annual limit on Loss deductions  relating the amount of business loss that can be deducted in a year.

The law states that single or individual tax payers can deduct nothing more than $250,000 while married taxpayers who are filing jointly can deduct up to $500,000 per year of their business losses.

Therefore, if Jahlil is single the amount of partnership loss he can deduct is $250,000 but if he is married filing jointly, he can deduct $500,000

6 0
3 years ago
When an alternative decision rule disagrees with the net present value (npv), the npv should be followed?
marta [7]
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5 0
3 years ago
Audiences are allowed to preview (sneak preview) actual movies such as The Hunger Games and Star Trek so that changes might be m
evablogger [386]

Answer:

The correct answer is: market testing.

Explanation:

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Generally, a market test is carried out before the launch of a new product, in order to evaluate its acceptance or reception, and thus reduce the risk of introducing the new product to the market and that it does not have sufficient demand.

When carrying out the market test, the acceptance, reception, printing, reaction or behavior of the public before the new product is known and, based on the results, to determine if the launch of the new product is feasible, if it is necessary to make some changes before its launch, or if the launch is definitely not feasible.

7 0
3 years ago
Assume, for Vietnam, that the domestic price of textiles without international trade is higher than the world price of textiles.
nikitadnepr [17]

Answer:

a. other countries have a comparative advantage over Vietnam and Vietnam will import textiles.

Explanation:

A country has comparative advantage if it produces a good or service at a lower opportunity cost when compared to other countries.

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Vietnam should import textiles and use its resources to produce other goods for which it has a comparative advantage.

I hope my answer helps you.

8 0
3 years ago
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