Answer:
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Explanation:
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Answer is Structural adjustment.
Structural adjustment is arrangements of progression; obliged nations to privatize state-run firms, end endowments, diminish duty boundaries, recoil size of state, welcome remote venture; answer for monetary problem of less created countries, state had excessively turn in market so the state ought to pull back, IMF took after the possibility that a littler state is better for the economy (less direction, unhindered commerce, diminished estimation of cash)
Recording the transaction of providing travel services to the travelers, who paid $22,500 with a balance of $4,500 in the books of the Travel Services Corporation include:
Journal Entries:
Debit Cash $22,500
Debit Accounts Receivable $4,500
Credit Service Revenue $27,000
- To record the provision of travel services for cash and on credit.
Data Analysis:
Cash $22,500 Accounts Receivable $4,500 Service Revenue $27,000
Thus, the total service revenue recorded for this transaction is $27,000.
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Answer:
b. Liability, $9,000,000; expense, $0.
Explanation:
An asset retirement obligation (ARO) refers to an obligation with respect to the acquisition , construction, development, etc. The liability should be recognized the liability at the present value that should be expected to be paid for settling the obligations
Here the $9,000,000 million represents the liability
Also the journal entry is
Asset Dr
To liability
(Being the asset placed is recorded)
There is no expense should be recorded in the income statement
