Therefore, the entry should reflect the increase in accounts receivable (an asset) and sales revenue (revenue recognized) Explanation The correct entry to record the transaction using the accrual method is to Debit accounts receivable $10,000. A. The effect on the accounting equation is an: a AI Chat with PDF. The company used the effective interest method to account for this long-term note receivable. Assets decrease $12,400 and equity decreases $12,400 Assets increase $12,400 and liabilities decrease $12,400 Assets increase $12,400 and liabilities increase $12,400 … Business; Finance; Finance questions and answers; Smith's business receives an invoice from a supplier for 1000 with payment due within 30 days. what's the recorded entry to record the transactions?. can i wean my dog off proin Answer from the company's point of view A company borrows $2,000 from a local bank and signs a six-month note for the loan Firstly the business receives cash and deposits it into it’s bank account. In this case, the company receives $2,775 per year for 5 years, so the total amount received would be $2,775 x 5 = $13,875 Calculate the profit by subtracting the initial. A business receives $10,000 cash for a sale of merchandise and records this receipt of cash as an increase in accounts receivable by mistake. The effect on the accounting equation is a(n)(Check all that apply. The following amounts were distributed as dividends: Year Amount 20Y1 $22,500 20Y2 6,000 20Y3 45,000 Determine the dividends per share for preferred and common stock for each year. kenmore crossover du3017 On April 1, a company takes on an 18-month job and receives a $10,000 advance that is recorded in Unearned Revenue. Using the accrual method, what's the correct entry to record the transaction? Debit services expense $10,000, credit sales revenue $10,000 Debit unearned revenue $10,000, credit sales revenue $10,000 Debit accounts receivable $10,000, credit sales revenue $10,000. 50 each and receives a dividend of 8%. This month, the company should: Debit Cash $10,000 and credit Deferred Revenue $10,000. However, it can be frustrating when you’re not receiving important messages in your inbox To receive a mailed J Penny catalog, customers should contact the company’s customer service department at 800-322-1189 and ask to be added to its promotions mailing list In today’s digital age, becoming an influencer has never been more accessible. giant popping spewing cyst youtube Using the accrual method, what's the correct entry to record the transaction? A. ….

A school district near here receives $10,000 in annual revenue and spends $2,500 on education (R) while spending the remaining revenue on everything else (X) Graph the PPF/Budget constraint, with R on the x axis, and indicate the current expenditure choice, m b. A company receives $10,000 in cash for services yet to be performed. One area that can greatly benefit from au. Debit cash$10,000, credit accounts receivable $10,000 Debit cash$10,000, credit sales revenue$1 0,000 Debit sales revenue$10,000, credit cash $10,000 Study with Quizlet and memorize flashcards containing terms like Identify the key activities necessary to start a business, How do financing activities differ from investing activities?, Business activities that affect the basic accounting equation and are recorded in the accounting system are called _____ Classify each of the following business activities as either an operating activity, investing activity, or financing activity. The investor purchases physical and virtual assets, keeping in mind the associated risks, with the expectation that the value of those assets will. dodge charger police car for sale in texas The n/30 meams that the credit is for only 30 days and. How does this transaction affect the accounting equation? Increases assets and increases liabilities. They are distributed exclusively through the company’s cosmetic studios. Prepare the entry to record payment of the above note in full on it's due date of 5/1/21. lance 815 camper for sale There are two formulas for calculating variable cost ratio. Increases liabilities and decreases owner’s equity. The market interest rate is 12% annually. The potential customer is willing to pay $0 Current sales are $90,000 and current costs are $75,000 for 90,000 units. One innovative solution that can streamline your business communication is a virtual. verizon 5g home internet dollar25 Doane Company receives a $10,000, 3-month, 6% promissory note from Ray Company in settlement of an open accoun Get the answers you need, now! See what teachers have to say about Brainly's new learning tools!. ….

One of the benefits of being a Verizon customer is the pote. A company receives $10,000 in cash for services yet to be performed. ups store staples near me Likewise, only when cash is paid out would you record your expenses. Here’s the best way to solve it. Received $10,000 cash from owners and issued shares to them Borrowed $7,000 cash from a bank and signed a note due later this year Purchased land for $12,000; paid $1,000 in cash and signed a note for $11,000 Bought and received $800 of equipment on account On 01 January, company receive $ 10,000 of income in advance while the service had not yet started. craftsman clutch return spring replacement