Answer:
Debit cash for $1,180
Credit unearned catering revenue for $1,180
Explanation:
Unearned revenue refers to the amount of money that is received in cash by a company for goods that are yet to be delivered or services that yet to be rendered.
The $1,180 advance payment received by Ted Catering is unearned catering revenue. The eneral journal entry that Ted Catering will make to record the cash receipt wil appear as follows:
<u>Account title Dr ($) Cr ($) </u>
Cash 1,180
Unearned catering revenue 1,180
<em><u>(To record unearned catering revenue.) </u></em>
Answer:
The correct answer is letter "A": results in termination of the agent.
Explanation:
Principal-agent relationships are based on a fiduciary duty or, in other words, trust. Principal-agent problems typically arise because principals tend to delegate agents the execution of activities that benefit the principals but not the entity the agent represents. Thus, <em>if the trust between them is broken, principals, as owners of the entity, terminate the agent's contract.</em>
Answer:
In a command economy an authority such as the government, governmental agency, or central planners decide what to produce, how to produce and to whom goods and services will be allocated.
The May transactions for Charlie Company (seller) assuming that Charlie uses a perpetual inventory system are:
Charlie Company Journal entries
May 13
Debit Account receivable $360
(8×$45)
Credit Sales $360
(To record credit sales)
May 13
Debit Cost of goods sold $208
(8×$26)
Credit Merchandise inventory $208
(To record cost of goods sold)
May 16
Debit Sales return and allowances $45
Credit Account receivable $45
(To record goods returned)
May 16
Debit Merchandise inventory $26
Credit Cost of goods sold $26
(To record cost of goods sold returned)
May 23
Debit Cash $302
($315-$13)
Debit Sales discount $13
(4%×$315)
Credit Account receivable $315
($360-$45)
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Answer:
Here the given statement is true.
Explanation:
The given above statement is true , customer service and promotions are recognized as a company's skill set , which if a company would perform better than its competitors than it would be able to attract more customer base and even retain its target audience. Customer service skills are really important for every company as these skills helps in increasing its target consumers and retain them by addressing the customers redressal, fulfilling their needs and wants and improving their experience.
