Answer:
b) debit accounts receivable, credit capital
Explanation:
Performing service is part of normal business activities. It generates revenue for the business.
Once a service has been performed, revenue increases. Revenue is an equity account (it increases the owner's equity). An increase to an equity account is recorded by crediting the account.
The payment will be received in 30 days. This is an increase in accounts receivables ( asset account). An increase in assets is recorded as a debit.
Answer:
D) $16,000 Discount Expense plus a $20,000 positive Adjustment to Net Income when the merchandise is delivered
Explanation:
Options include <em>"A) $20,000 Discount Expense plus a $12,000 positive Adjustment to Net Income when the merchandise is delivered. B) $20,000 Discount Expense plus a $12,000 negative Adjustment to Net Income when the merchandise is delivered. C) $20,000 Discount Expense plus a $20,000 negative Adjustment to Net Income when the merchandise is delivered. D) $16,000 Discount Expense plus a $20,000 positive Adjustment to Net Income when the merchandise is delivered E) $20,000 Discount Expense plus a $20,000 positive Adjustment to Net Income when the merchandise is delivered."</em>
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Discount expense
= ($1.41 - $1.37) * 400,000 euro
= $0.04 * 400,000 euro
= $16,000
Adjustment at Delivery
= ($1.41 - $1.36) * 400,000 euro
= $0.05 * 400,000 euro
= $20,000 (positive)
Answer:
<em>a) Trade can make everyone better off </em>
Explanation:
In business, it is common to see trades. If the startup agrees to maintain an accounting firm's website in EXCHANGE for the tax returns, that is called trading since you are giving one thing for another.
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Are opinion would not matter and the country would not be free.
Or violence if they chose someone that nobody agrees with.
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True, because producer decisions are motivated by the attempt to earn profits.18. Consider the following statement: “Competition is the disciplinarian of the market economy.”This statement istrue, because when producers face competition they are driven to provide goods and services at the lowest possible cost.19. Some large hardware stores such as Home Depot boast of carrying as many as 20,000 different products in each store. This volume of goods is the result ofthe choice of consumers regarding what to purchase to satisfy their wants and the choice of producers regarding what to produce to maximize profits.
