Answer:
a.) matching
Explanation:
Matching principle is the accounting principle in which the expenses incurred should be recorded at the same period when the revenues are earned. Also the business incurred the expenses in order to earn the revenues
So as per the given situation since Bob recognized the expenses but it is not paid so here he is using the matching principle
Therefore the option a is correct
The heading goes at the very top of the page, along with your name and address. So heading is correct. Good luck.
Answer:
the opportunity cost is in the case when you choose to go to the movies is $20
Explanation:
The computation of the opportunity cost is in the case when you choose to go to the movies is shown below:
= Earning per hour × number of hours
= $10 × 2 hours
= $20
Hence, the opportunity cost is in the case when you choose to go to the movies is $20
Answer:
Explanation:
April 2
Dr Cash 34,830
Dr Equipment 15,540
Cr Owner's capital 50,370
April 2
no entry
April 3
Dr Supplies 830
Cr Accounts payable 830
April 7
Dr Rent expense 630
Cr Cash 630
April 11
Dr Accaunts receivable 1360
Cr Service Revenue 1360
April 12
Dr Cash 3940
Cr Unearned service revenue 3940
April 17
Dr Cash 2950
Cr Service Revenue 2950
April 21
Dr Insurance expense 150.30
Cr Cash 150.30
April 21
Dr wages expense 1280
Cr Cash 1280
April 30
Dr Supplies expense 130
Cr Supplies 130
April 30
Dr Equipment 7000
Cr Owner's capital 7000