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.
Answer:
The answers are : unauthorized, identified, facts, affirm, authorization, withdraws, observe.
Explanation:
Ratification occurs when the principal accepts responsibility for the agent's unauthorized acts. For ratification to be valid, the agent must have acted on behalf of an identified principal, that principal must know all of the material facts , must affirm the agent's act in its entirety, and must have the legal authorization to ratify the transaction both at the time the agent engages in the act and at the time the principal ratifies it. The principal's ratification must occur before the third party withdraws from the transaction, and the principal must observe the same formalities when ratifying the act as would have been required to authorize it initially.
The accounting rate of return for this investment given its income, cost of the machine and the salvage value is 8.05%.
<h3>What is the accounting rate of return?</h3>
The accounting rate of return is a capital budgeting method used to determine the level of profitabiliy of an investement.
Accounting rate of return = Average net income / Average book value
Average book value = (cost of equipment - salvage value) / 2
Average book value = (59700 - 7500) / 2 = $21,600
Accounting rate of return = $2100 / 21600 = 8.05%
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Answer:
I would say it B ............
