All categories

2 years ago

The adjusting entry to record revenue for services the seller has performed but not yet collected requires ______.

2 answers:

5 0

The adjusting entry to record revenue for services the seller has performed but not yet collected requires: A debit to Accounts Receivable and credit to Service Revenue.

<h3>Journal entry</h3>

The appropriate journal entry the record revenue for services the seller has rendered but not yet collected will includes debiting account receivable and crediting service revenue.

Adjusting journal entry

Debit Accounts Receivable

Credit Service Revenue

Inconclusion the adjusting entry to record revenue for services the seller has performed but not yet collected requires: A debit to Accounts Receivable and credit to Service Revenue.

Learn more about journal entry here:brainly.com/question/14279491

Viefleur [7K]2 years ago

4 0

Answer: a debit to accounts receivable and credit to service revenue

Explanation:

You might be interested in

The price (P) of designer jeans is affected by the supply (S) and the demand (D).

Sedbober [7]

Answer: The answer is A, an increased demand and no change in supply.

Explanation: I just checked.

8 0

3 years ago

Sunland Company had 203000 shares of common stock, 20100 shares of convertible preferred stock, and $607000 of 10% convertible b

svetlana [45]

Answer:

Option B fits perfectly,$1.61

Explanation:

Basis earnings per share is the total earnings attributable to common stock divided by the weighted average number of common stock in the year.

Earnings attributable to common is net income minus preferred stock dividends

Net income is $361,000

preferred stock dividend=20,100*$1.70=$ 34,170.00

earnings attributable to common stock=$361,000-$ 34,170=$ 326,830

Weighted average number of common stock is 203,000 shares

basic earnings per share= $326,830/203,000=$1.61

The correct option is B,$1.61

6 0

3 years ago

The following information was drawn from the 2016 accounting records of Ozark Merchandisers: 1. Inventory that had cost $21,200

solniwko [45]

Explanation:

Sales Discount = (Gross Sales - Sold Price) × Discount percentage

($39,900 - $1,520) × 2%

Net sales = Gross Sales - Sales Returns - Sales Discounts

= $39,900 - $1,520 - $767.60

= $37,612.40

Ozark Merchandisers Income Statement

Net Sales Revenue $37,612.40

Cost of Goods Sold ($21,200 - $920) $20,280

Gross Profit $17,332.40

Selling and Administrative Expenses $4,200

Income from Operations $13,132.40

Other Income

Gain on sale of land $1,250

Interest Expense ($360) $890

Net Income $14,022.40

Under Finance activities the interest expense is $360 in the statement of cash flow.

6 0

3 years ago

Nonprice rationing devices are required:a. because the price system does not allocate resources efficiently.b. when there are pr

o-na [289]

Answer:

d. to allocate goods when there is a price ceiling.

Explanation:

Non price rationing or queuing is a measure used when there is a price ceiling, queuing is used to arrange people on a first come first serve basis.

Rationing is done on the non monetary cost of waiting in line.

Waiting time eventually balances buyer equillibrum. When customer's are waiting on queues for too long some of them loose interest and leave, this restoring balance between what is available and number of people waiting to buy.

5 0

3 years ago

Yoonie is a personnel manager in a large corporation. each month she must review 16 of the employees. from past experience, she

Inga [223]

Answer:

Sample size is 16

Mean 4

Standard deviation of the sample is 0.3.

Explanation

The Central Limit Theorem estabilishes that, for a random variable X, with mean $\mu$ and standard deviation $\sigma$ , a large sample size can be approximated to a normal distribution with mean $\mu$ and standard deviation $\frac{\sigma}{\sqrt{n}}$ .

In this problem, we have that:

The population has a mean of four hours, with a standard deviation of 1.2 hours. The sample is the 16 of the employees.

The sample size is 16, so $n = 16$

The mean of the sample is the same as the population mean, so $\mu = 4$ .

The standard deviation of the sample is $s = \frac{\sigma}{\sqrt{n}} = \frac{1.2}{4} = 0.3$

4 0

3 years ago