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ivolga24 [154]
3 years ago
11

Dr. Peabody recorded $6,820 in services provided to clients who make monthly payments. Which of the following statements is corr

ect?
A. The dental revenues account is debited $6,820; accounts receivable is credited $6,820.
B. Accounts receivable is credited $6,820; the dental revenues account is credited $6,820.
C. Accounts receivable is debited $6,820; the dental revenues account is debited $6,820.
D. Accounts receivable is debited $6,820; the dental revenues account is credited $6,820.
Business
1 answer:
11111nata11111 [884]3 years ago
3 0

Answer:

D. Accounts receivable is debited $6,820; the dental revenues account is credited $6,820.

Explanation:

The two accounts that are affected here are accounts receivables ( Assets) and the revenue account ( affects capital). The accounts receivable will increase as payment is expected at the end month. Since receivable are assets, an increase in receives is recorded as a debit of the account receivable account. $ 6,820 will be debited on the accounts receivables.

The services rendered increases the revenue to Dr. Peabody.  Revenue is considered a capital account because it increases the owner's equity. An increase in a capital account is credited. Dr. Peabody will credit the dental revenue account with $6,820.

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An investment offers $5,700 per year, with the first payment occurring one year from now. The required return is 5 percent. a. W
aivan3 [116]

Answer:

The correct answer is "$44,013.89".

Explanation:

Given:

Investment per year,

= $5,700

Required return,

= 5%

As we know,

⇒ Present \ value=Investment \ per \ year\times Annuity \ factor

Or,

⇒ Annuity \ factor=\frac{1-[\frac{1}{(1+k)}]^n }{k}

then,

The present value of 10 annual payment will be:

= 5700\times \frac{1-[\frac{1}{(1+.05)}]^{10} }{.05}

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Answer:

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Explanation:

To solve for NWC we start form the accounting equation and then, we expand it to get the NWC expression:

Assets = Liabilies + Equity

we expend the formula

current assets + fixed assets = current liabliies + non-currnet liab + stock + RE

NWC = net working capital

being: current assets - current liabilities

(current assets - current liabilities) =  non-currnet liab + stock + RE - fixed assets

NWC = -3,283 + 5,629 + RE - 24,154

We need to solve fotr the change in Retained Earnings:

which is net income - dividends:

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costs                              (219,406)

other expenses                 (8,481)

depreciation expense    (18,633)

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taxes                                 (15,217)

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NWC = -3,283 + 5,629 + 29,916 - 24,154

NWC = 8,108

8 0
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Blank describes the practice of products and services traded between countries around the world.
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Explanation:

  • Q1.Can my eyes capture things within the normal distance?
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Answer:

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