Answer:
1. T-accounts:
Accounts Debit Credit
Accounts Receivable
Balance $4,200
Service Revenue 8,400
Cash 10,200
Accounts Debit Credit
Service Revenue
Accounts Receivable 8,400
Accounts Debit Credit
Supplies
Balance $400
Accounts Payable 2,300
Balance c/d $2,700
Accounts Debit Credit
Accounts Payable
Balance $3,500
Supplies 2,300
Cash $3,700
Balance c/d $2,100
Accounts Debit Credit
Cash Account
Balance $3,400
Accounts Receivable 10,200
Advertising $1,000
Accounts Payable 3,700
Deferred Revenue 1,100
Balance c/d $10,000
Accounts Debit Credit
Advertising Expense
Cash 1,000
Accounts Debit Credit
Accounts Payable
Cash 3,700
Accounts Debit Credit
Deferred Revenue
Balance $300
Cash 1,100
Balance c/d $1,400
Explanation:
a) Data:
General Entries:
Accounts Debit Credit
1. Accounts Receivable 8,400
Service Revenue 8,400
2. Supplies 2,300
Accounts Payable 2,300
3. Cash 10,200
Accounts Receivable 10,200
4. Advertising Expense 1,000
Cash 1,000
5. Accounts Payable 3,700
Cash 3,700
6. Cash 1,100
Deferred Revenue 1,100
b) The beginning balance of each account before the transactions is:
Cash, $3,400
Accounts Receivable, $4,200
Supplies, $400
Accounts Payable, $3,500
Deferred Revenue, $300
Barney appears to be very impressed by the candidate's non-verbal communication skills.
<u>Answer:</u> 1. A. Over 60%, 2. D. Common stock , 3. C. About 10%
<u>Explanation:</u>
Financial assets such as the investments of the households which include the deposits, shares, bonds and equity in total are considered as over 60% of total US households.
Real assets are the assets which have a intrinsic value and it has physical appearance such as goods, real estate, land buildings, consumer durable. Common stock is not a physical asset.
Commercial banks consider net worth as 10% of liabilities . Net worth is calculated as asset value minus liability of the bank. Bank's capital can also be called a bank's net worth.
When we say informal sectors, these are organizations that are excused from being taxed or monitored by the government. In this sector, their activities are not part of the <span>gross national product and gross domestic product. Although this kind of economy has some negative impact for some, it can be effective and also helpful in providing jobs especially for the poor ones.</span>
In forex trading When someone is holding a long position in a foreign currency, then the person can hedge with a short position in a currency forward contract.
What do we mean by long position in a foreign currency?
Long can be explained as when someone buy with the expectation that the purchase will rise in term of value in the future.
At a long on a currency, one is try to bet the base currency, that it will strengthen compared with the quote currency.
Learn more about foreign currency here;
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