Answer:
a. Utilities Expense 500
Cash 500
Explanation:
Given: Consulting immediately paid $500 cash for utilities.
As $500 cash been paid for utility expenses.
We know the golden rule of accounting transaction:
- Personal accounts: Debit the receiver, credit the giver.
- Impersonal real account: Debit what comes in, credit what goes out.
- Impersonal Nominal account: Debit all expenses and losses, credit all profit and gains.
Paid for utility expense of firm is not the personal account, however, it is impersonal account. In the given case, cash is going out of business.
Therefore, Debit all expense and losses and credit what goes out of business.
Journal Entry of the transaction:
Debit utility expenses account--- $500
Credit cash account--- $500
Answer:
The correct answer is (B)
Explanation:
The correct answer is (B)
Because, According to Mancur Olson's theory of dictatorships in poor countries, stable dictatorships cause less economic harm than unstable dictatorship
False should be the answer
<span>b. false is my answer</span>
If Austin cannot pay the entire balance in full by the
due date of the return, he can choose any options. Such as installment
agreement request by submitting form 9465. This installment
agreement allows Austin to make a series of monthly payments over time. Another
choice is by paying IRS for a full pay agreement of up to 120 days. In this
option, no penalty fee for full payment; however, interest and any applicable
penalties continue to accrue until your liability is paid in full. Moreover,
Austin can <span>consider financing the full payment of his tax
liability through a credit card. The interest rate and any applicable fees
charged by a credit card company are usually lower than the combination of
interest and penalties set by the Internal Revenue Code.</span>
