The class trip is going to cost each of the fifty

A firm will experience a loss when its revenue is less than its expenses

tatiyna

The answer for this question is True

5 0

3 years ago

Great Kids Co. began providing day care for the children of employees of a large corporation on January 15 for an agreed monthly

nirvana33 [79]

Answer:

A. A credit to Child Care Fees Earned of $4,500.

Explanation:

The journal entry to record this given transaction is shown below:

Cash A/c Dr $4,500

To Child Care Fees Earned A/c $4,500

(Being the fees earned is recorded)

Since the payment is received that means cash balance is increased so we debited the cash account and credited the child care fees earned account.

The monthly fee is $9,000 but we have to compute for 15 days, so it would be

= $9,000 ÷ 2

= $4,500

7 0

3 years ago

Which of the following will increase a company’s current liabilities? You may select more than one answer.

vichka [17]

Answer:

A company purchases inventory on credit.

Explanation:

Current liabilities are those that have to be settled within the fiscal year. The statement above does not specify if the credit has to be paid within the fiscal year, but most likely it has to, because inventories do not usually represent a long-term debt.

So under this sceneario, purchasing inventory on credit would represent an increase in the current liabilities of the firm.

8 0

3 years ago

Classifying items on the statement of cash flows Cash flow items must be categorized into one of four categories. Identify each

valentina_108 [34]

Answer:

Explanation:

There are three types of activities in the cash flow statement which are described below:

1. Operating activities: It includes those transactions which affect the working capital after net income. The increase in current assets and a decrease in current liabilities would be deducted whereas the decrease in current assets and an increase in current liabilities would be added.

These changes in working capital would be adjusted. Moreover, the depreciation expense is added to the net income and it also records the cash receipts and cash payment transactions

2. Investing activities: It records those activities which include purchase and sale of the long term assets. The purchase is an outflow of cash whereas sale is an inflow of cash

3. Financing activities: It records those activities which affect the long term liability and shareholder equity balance. The issue of shares is an inflow of cash whereas redemption and dividend is an outflow of cash.

The categorization is shown below:

a. Cash purchase of merchandise inventory - operating activity

b. Cash payment of dividend - financing activity

c. Cash receipt from the collection of long-term notes receivable - investing activity

d. Cash payment for income taxes - operating activity

e. Purchase of equipment in exchange for notes payable - non cash activity

f. Cash receipt from the sale of land - investing activity

g. Cash received from borrowing money - financing activity

h. Cash receipt for interest income - operating activity

i. Cash receipt from the issuance of common stock - financing activity

j. Cash payment of salaries dividends - operating activity

5 0

3 years ago

What is one reason that a hotel owner might consider hiring a hotel management company?

Allushta [10]

Improved hotel management effectiveness is one reason that a hotel owner might consider hiring a hotel management company.

What function does a hotel management business serve?

The management firm oversees the hotel operations and makes sure they are profitable.
They are in charge of every aspect of the business, from hiring and training employees to procuring supplies, cleaning rooms, renting out meeting space, and entertaining visitors.
The General Manager is accountable to both the hotel management business AND the original owner who engaged the hotel management firm.
The general manager's job is to manage the hotel in a way that generates income for the owner.

To be clear, the hotel owner could be a person, a business, or a trust fund or real estate. These will change based on the market and the kind of hotel.

To learn more about hotel management visit:brainly.com/question/10979252

#SPJ4

6 0

1 year ago