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RoseWind [281]
2 years ago
7

On November 15, Paulson Painting received a $6,000 cash payment from Apex Inc. in exchange for painting services to be provided

in December. When posting the journal entries related to this payment, Paulson's accountant debits the Cash account for $6,000 and credits Service Revenue for $6,000. Which of the following statements best describes the results of this posting?
a. In Paulson's general ledger, the ending balances for both the Cash account and the Service Revenue account will be correct.
b. In Paulson's general ledger, the ending balance for the Cash account will be too low, the ending balance for the Service Revenue account will be too low, and the ending balance for the Unearned Service Revenue account will be too high
c. In Paulson's general ledger, the ending balance for the Cash account will be correct. However, the ending balance for the Service Revenue account will be too high and the ending balance for the Unearned Service Revenue account will be too low
d. In Paulson's general ledger, the ending balances for the Cash and Service Revenue accounts will be too high. However, the ending balance for the Unearned Service Revenue account will be too low.
Business
1 answer:
ahrayia [7]2 years ago
5 0

Answer:

c. In Paulson's general ledger, the ending balance for the Cash account will be correct. However, the ending balance for the Service Revenue account will be too high and the ending balance for the Unearned Service Revenue account will be too low

Explanation:

Around 15th November, Paulson Painting endured a $6,000 cash amount from Apex Inc. in replacement for painting services to be rendered in the month of December. While posting the journal insertions correlated to this amount, Paulson's controller debits the Cash statement for $6,000 as well as charges Service Revenue toward $6,000. The statement which best describes the results of this posting is that, <u>in Paulson's general ledger, the ending balance for the Cash account will be accurate. Nevertheless, the ending balance regarding the Service Revenue account will remain extremely high as well as the ending balance for the Unearned Service Revenue account will remain extremely low.</u>

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Data concerning Sinisi Corporation's single product appear below: Selling price per unit $ 200.00 Variable expense per unit $ 58
Finger [1]

Answer:

Break-even point (dollars)= $574,000

Explanation:

Giving the following information:

Selling price per unit $ 200.00

Variable expense per unit $ 58.00

Fixed expense per month $ 407,540

<u>To calculate the break-even point in dollars, we need to use the following formula:</u>

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 407,540 / [(200 - 58)/200]

Break-even point (dollars)= $574,000

7 0
2 years ago
A regional airline owns 10 aircraft and employs 20 pilots. The airline makes an average of three trips per day with each of its
marishachu [46]

Answer:

a short-run decision because the number of aircraft is held constant while the labor input is changed.

Explanation:

In the short run, at least one variable or factor of production is fixed and cannot be changed. In the long run, all factors of production can be changed.

In this case, the number of aircraft is the fixed factor of production (capital) while labor is variable because more pilots can be hired. Regulation state that pilots must rest a certain amount of time in between flights, so if you want to increase the amount of flights you need to hire more pilots and cabin crews since regulations do not require planes to rest.

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2 years ago
Raul is the Chief Operating Officer (COO) of Black Mesa Inc., a firm that produces handcrafted kitchen tables for both the resid
quester [9]

Answer: A. Raul could gain access to cheaper raw materials in a foreign country, thus lowering the cost of his input factors.

Explanation:

Being able to produce goods at a lower cost is a good thing for a business because it means that the business can be able to sell at a lower price and therefore get more customers and increase overall profitability.

If Raul could access materials from a foreign company at a cheaper rate, this would be advantageous because his company can produce at a lower price and increase profitability.

8 0
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1. Assume that Walmart can borrow at yield of 5% in USD (5-year, zero coupon debt, issued in the US), before issuance costs. Alt
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Answer:

it wold be cheap because walmart is cheap and by the way does walmart have toilet paper yet i havent gone so i dont know

Explanation:

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Amber is writing to an accountant that she would like to interview to gain information about the career field. What information
kkurt [141]

Since Amber would like to interview an accountant that she is not familiar with to gain more information about what it is like working as one, it is better for her to send a letter that includes (D) a list of questions that she intends to ask in her interview.

This way, the accountant can know whether she or he can answer the questions that Amber wants the answers too and prepare any necessary information beforehand.

6 0
2 years ago
Read 2 more answers
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