Answer:
d.$42,101
Explanation:
We use the accounting equation to determine the Equity Balance
Accounting Equation States :
Assets = Equity + Liabilities
also,
Equity = Assets - Liabilities
therefore,
Equity = $86,600 - $44,499 = $42,101
thus
Stockholders' equity should equal $42,101
Answer: (B) Subtract beginning unearned service revenue.
Explanation: The difference between cash-basis and accrual-basis accounting is the timing of when revenue and expenses are recognised. While cash-basis accounting recognises revenue when actual cash is received or when cash is paid for expenses, accrual-basis accounting recognises revenue when it is earned and when expenses are incurred.
To treat cash receipt from customers on service revenue using accrual-basis accounting, the cash receipt would be warehoused in unearned service revenue account, when the service is rendered or depending on the timing of the service (how long the service takes), the unearned service revenue would be unwound to revenue.
Answer:
The correct answer is letter "B": She is reviewing her goals and aligning the budget to work toward them.
Explanation:
Smart financial planning is the strategy by which individuals or corporations adjust their budgets according to the current situation they face. The adjustments are done as many times as necessary to accomplish the goals those individuals or firms have set.
In Christie's case, the reason why she adjusts her budget by the end of every month is that she needs to match her expenses with her objectives so she can reach them.
Answer:
Please see explanation
Explanation:
The forecast of 20% increase prepared by the state revenue commissioner is plausible because the new sales tax rate has also been increased by 20% in comparison with the old tax rate which can be calculated as follows:
Change in sales tax rate=change in tax rate/old tax rate
=6-5/5
=1/5
=20%