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3 years ago

Which of the following is an example of an adjusting entry

Business

1 answer:

r-ruslan [8.4K]3 years ago

7 0

<h2>Answer:</h2>

<u><em>I believe the answer is C. </em></u>

<h2>Explanation:</h2>

<em>I was looking at examples of adjusting entry and C was the closest one that made more sense. If I am incorrect please correct me. Hope this somehow helped and have a good one!</em>

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Davis sells Weber equipment under an arrangement whereby Davis delivers the equipment on January 1, 2021 and receives payment on

poizon [28]

Answer:

C. Debit to cash

D. Credit to notes receivable

Explanation:

When a company received money for previous sales, the following entry is required -

Debit Cash XXXX

Credit Accounts/Notes receivable XXXX

In that case, as Davis sold Weber equipment with an agreement of notes because of long-term payment, they treated the sale as a note receivable. Whenever the subsequent payment occurred, the entry to record the journal -

Debit to cash and Credit to notes receivable. Therefore, options C and D are both correct.

8 0

3 years ago

Joseph wants to take out a large loan. He has always paid his bills on time and has a fantastic credit score. He has been with h

oksano4ka [1.4K]

Joseph is probably denied credit due to his bad character, which is an essential element of the Three C's of Credit.

<h3>What are the Three C's of Credit?</h3>

To determine the credibility of a person for grant of a loan or an advance, a lender takes into consideration the Three C's of credit, which are as follows,

Character
Capacity
Capital or Collateral.

Collaterals or Capital help in determination of security of lender from borrower, in case when the borrower is unable to repay the credit. Capacity determines the ability to repay the credit.

Character, on the other hand, helps in determination whether the customer or the borrower's behavior, and the qualities of his or her character in the society.

Hence, the three C's of credit are explained above.

Learn more about the Three C's of Credit here:

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7 0

2 years ago

Mikey is very picky and insists that his mom make his breakfast with equal parts of cereal and apple juice any other combination

timofeeve [1]

Answer: Mikey's mom will buy 80 tablespoons each of cereal and juice. Option C.

Explanation:

We will get the correct option by calculating each option thus:

Cereal = 4 cents per tablespoon.

Juice = 6 cents per tablespoon.

Option A. 40 tablespoons of cereal and 75 tablespoons of juice.

40 tablespoons of cereal X 4 cents = 160 cents = $1.6

75 tablespoons of juice X 6 cents = 450 cents = $4.5

Option A gives a total of $6.1 (WRONG).

Option B. 100 tablespoons of cereal and 67 tablespoons of juice

100 tablespoons of cereal X 4 cents = 400 cents = $4

67 tablespoons of juice X 6 cents = 372 cents = $3.72

Option B gives a total of $7.72 (WRONG).

Option C. 80 tablespoons each of cereal and juice.

80 tablespoons of cereal X 4 cents = 320 cents = $3.2

80 tablespoons of juice X 6 cents = 480 cents = $4.8

Option C gives a total of $8 (CORRECT)

Option D. 40 tablespoons each of cereal and juice.

40 tablespoons of cereal X 4 cents = 160 cents = $1.6

40 tablespoons of juice X 6 cents = 240 cents = $2.4

Option D gives a total of $4 (WRONG)

Therefore, the correct option is C.

3 0

3 years ago

In good years, dailey industries often loans cash to other companies, but in difficult years, they have to borrow cash from othe

MrRissso [65]

Any sort of funds used In financing a firm is recorded in the Financing activities while the loans cash will be recorded in the Financing activities of the statement of cash flows as well.

<h3>What is the Financing activities of cash flows?</h3>

This part of cash flows record the financing activities such as raising money through lending or issuing a bond as well as paying back to the investors.

Therefore, both transactions will be recorded in the financing activities of cash flows.

Read more about financing activities

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4 0

2 years ago

A group of buyers and sellers of a good or service and the institution or arrangement by which they come together to trade is a

sergejj [24]

Answer:

Market

Explanation:

A market is an arrangement that allows buyers and sellers to exchange goods or services . In market arrangement ,a group of buyers and sellers of a good or service ant the institution or arrangement by which they come together to trade

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3 years ago