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nevsk [136]
3 years ago
10

Consider the following transactions by a corporation: On July 5, billed a customer for $6700 for services performed on that day.

On August 10, called the client to remind them of the balance owing on their bill. What is the effect on the balance sheet on August 10
Business
1 answer:
mixas84 [53]3 years ago
7 0

Answer:

There is no effect on the balance sheet on August 10, since the customer is still owing the balance.

Explanation:

Based on the scenario, there is no transaction on August 10 that can be recorded.  It is only a note on the records to show that a reminder call was placed to the debtor customer on that date.  An effect would have affected the balance sheet on August 10, assuming the customer responded by settling her account balance.

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If you look at average interest rates on savings accounts today, how do they compare with inflation?.
Alina [70]

The average interest rates on savings account today compared to inflation shows that inflation is higher.

<h3>How are savings interest rates and inflation related?</h3>

The current interest rates on savings accounts in the U.S. on average is about 0.08%.

Inflation on the other hand, is 9.1%. This shows that inflation massively outstrips the average savings interest rates.

Find out more on inflation rates at brainly.com/question/9209792

#SPJ1

7 0
2 years ago
Which of the following statements is​ true? A. Companies are​ price-setters for a product when there is intense competition. B.
ValentinkaMS [17]

Answer: B - Companies are​ price-takers when they have little or no control over the prices of their products or services.

Explanation:

Price takers are firms that do not have control or do not set the prices for their goods or services. They take the price set by the market.

Price takers operate in perfectly competitive markets. Price takers have close substitutes for their goods and services.

Price makers are firms that have the ability to influence the price of their goods or services.

They are usually monopoly firms with no close substitutes for their goods or services.

7 0
3 years ago
To motivate Ryan in school this year, his mother promised to give him $20 for every passing grade he gets at the end of the scho
Taya2010 [7]

Answer

False memory refers to the psychological phenomena where we remember something vividly that happened to us or other people and believe it to be real when in actuality the event did not even occur or occurred differently to how we

Explanation:

4 0
4 years ago
In its first year of operations, Grace Company reports the following:
ANEK [815]

Answer:

D) $25,000.

Explanation:

The Accrual Basis of Accounting is the process in which income earned or expenses incurred are recorded at the time the transaction takes place, whether or not the cash has been exchanged.

Net Income is derived by subtracting Expenses from Revenue.

N.B. Prepaid Expenses are Advance Payments towards expenses and are a Balance Sheet Items and will not be recorded under Net Income Calculations until the Expenses are realized.

So, The Net Income can be calculated as follows;

Revenue $60,000

Less: Expenses $35,000

Net Income $25,000

Hence Option D will be correct answer.

#NETINCOME

#PREPAIDEXPENSES

#ACCRUALBASISOFACCOUNTING

5 0
3 years ago
Low cohesiveness combined with a strong alignment between group goals and organizational goals typically results in this. a mode
LenKa [72]

Answer:

A) a moderate productivity increase

Explanation:

Low cohesiveness means that the group is not united, it is not a team.

Even though the group may be strongly aligned towards achieving the group's goals or the organization's goals, if they cannot work together as a team, then their productivity will not increase a lot. The moderate productivity increase will be due to each individual's alignment with the common goals, so they will work harder to achieve them. But they will work harder on their own, not as a team.

If they were able to work as a team, then the productivity increase would be much greater.

High cohesiveness combined with a strong alignment between group goals and organizational goals typically results strong productivity increases, the key is teamwork.

3 0
3 years ago
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