Answer:
The amount of revenue that will be reported on the income statement for the month ended July 31 is equal to $5,300.
Explanation:
The applicable accounting concept here is accrual concept.
Accrual concept states that revenue is recognized when it is earned and expenses are also recognized when they are incured no matter when cash is received or paid.
Based on the accrual concept, only transactions 1 and 4 will be used in calculating the amount of revenue for July as follows:
July revenue = Cash received for services performed during July + Billing of customers for services performed on account in July = $1,200 + $4,100 = $5,300
Therefore, the amount of revenue that will be reported on the income statement for the month ended July 31 is equal to $5,300.
Answer:
b- $2,400
Explanation:
The computation of the amount that should be recorded is given below:
= 3 months rent ÷ number of months
= $7,200 ÷ 3 months
= $2,400
Hence, the amount of rent that should be recorded is $2,400
Therefore the option b is correct
The same should be considered
To further sell the car and make it seem more desirable, aswell as to be adding benefits constantly
Answer:
the dividend revenue account is credited
Explanation:
As we know that the dividend is the company profit that is divisible and the same is to be issued to the shareholder with respective to the number of shares purchased
In the case when Yale Co. paid the dividend so here the dividend revenue account is credited in the case when the company received the dividend
Hence, the dividend revenue account is credited
Which career requires less education than an Auditor?
A) Accountant
B) Bookkeeper
C) Credit Analyst
D) Financial Manager
