Answer: B. One asset would increase $1,750 and a different asset would decrease $1,750, causing no effect
Explanation:
From the information given in the question, the journal entry at the time of sales will be represented as:
Debit Accounts receivable $1,750
Credit Sales $1750
Now, when the credit receipt is received as illustrated in the question, the journal entry will be:
Debit Cash $1,750
Credit Accounts receivable $1,750
Therefore, one asset would increase $1,750 and a different asset would decrease $1,750, causing no effect.
The correct option is B.
Answer:
Governance
Explanation:
Governance is a systematic way of how power is exercised for effective management of state/country economy and social resources for development of the state. Governance involved establishing policies and complete monitoring of the policies by the government using all legal tools permitted by the constitution of the state/country to seek accurate information and management control of resources in other to deliver good governance for the betterment of the people.
Answer:
Description:
They underwrite, distribute, and design investment securities for corporations to help them raise capital.
Financial Institution: Investment banks
Description:
They are established by an employer to facilitate and organize employee retirement funds. They are asset pools that invest in securities that have a potential to give stable returns.
Financial Institution: Pension Funds
Description:
With the use of advanced investment techniques, these largely unregulated portfolios are invested in securities. The investment objective is to offset potential losses by investing in counterbalancing securities. They are open to only a select class of investors.
Financial Institution: Hedge Funds
Answer:
Journal Entries
Date Account Titles and Explanation Debit Credit
Oct. 1 Cash $34,040
Common Stock $34,040
(To record the cash is invested in the business)
Oct. 2 No Journal Entry $0
Oct. 3 Office Furniture $4,110
Accounts Payable $4,110
(To record the purchase of office furniture on account)
Oct. 6 Accounts Receivable $10,780
Service Revenue $10,780
(To record the services provided but cash is not yet collected)
Oct. 10 Cash $165
Service Revenue $165
(To record the services provided by cash)
Oct. 27 Accounts Payable $690
Cash $690
(To record the payment made on accounts payable
relating to office furniture)
Oct. 30 Salaries Expense $2,740
Cash $2,740
(To record the payment of salaries to the assistant)
The statement that ten percent of your grade for this assignment is based on your explanation of two basic principles of communication
is false because the answer is based on the grading rubric
of the week one assignment that was given.
