Cash is an assets account. According to the rules of journal entries, an assets account is debited when it increases and it is credited when it decreases.
In the given transaction (A) on 5/8, the company has paid telephone bill of $154.32 with cash. It means the cash of $154.32 is paid and it will result in the decrease in cash by $154.32. Cash is an asset account. Hence we can say that this transaction will result in the decrease in cash by $154.32.
Hence the correct answer is:
D. Asset account, which decreases
Answer:
mixed cost.
Explanation:
The cost to Mohave of using the quality assurance logo would be a mixed cost.
The realisation principle indicates that the revenue from these ticket sales should be recognised in the period in which the Wine tasting is held.
Explanation:
It complies with Revenue Recognition Accounting Policy 9. It will be a burden for the organization, until the moment services are provided for which the money is taken.
Revenue recognition is a GAAP which defines the specific conditions under which revenue can be recognized. Revenue recognition is a generally accepted concept of accounting. In fact, when the crucial event happened, profits are remembered and the value of the profit for the company is tangible.
For Example, when a product is sold, the profit accounting is relatively straightforward, and the customer pays the products. Nevertheless, the fact that a company takes a long amount of time to manufacture a commodity will confuse accounting. Consequently, there are a number of situations in which the concept of acknowledgment of profit may be excepted.
.72 is ten times as much as .072 because
.072 times 10 is .72. to find this out you would divide .72 by 10.