Question: The economic event does not need a journal entry Dr. Revenue 1,000 and Cr. Cash 1,000 None of the other journal entries are correct,

The economic event does not need a journal entry Dr. Revenue 1,000 and Cr. Cash 1,000 None of the other journal entries are correct,

The economic event does not need a journal entry Dr. Revenue 1,000 and Cr. Cash 1,000 None of the other journal entries are correct, it is another journal entry Dr. Cash 1,000 and Cr. Revenue 1,000 Dr. Accounts Receivables 1,000 and Cr. Revenue 1,000

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

For parts hk, describe, when applicable, the impact (if the item is overstated or understated) on the items listed on the Income Statement (revenues or expenses and net income) and the items shown on...

99,000 13,500 700,000 56,774 125,000 40,000 1 Income taxes payable 22 Uneamed cent revenue 23 Bonds Payable 24 Premium on Bonds Payable 25 Common stock 26 PIC In Excess of Par-Common Stock 27...

1. An important purpose of closing entries is to * A. adjust the accounts in the ledger B. set nominal account balances to zero at the start of the next period C. set real account balances to zero at...

Comprehensive Project. Intermediate Accounting 1 On January 1, 2021, ABC purchased a one-year liability insurance policy for $50,000 Upon purchase, the following journal entry was made: Dr Prepaid...

Subject: Introduction Accounting Just answer the questions below and that's it! ------------------------------------------------------------------------------------ 1. The normal balance of common...

1(TCO B) Adjusting entries: Minnie Smile, D.D.S. opened a dental practice on January 1, 201X. During the first month of operations the following transactions occurred: performed services for patients...

1)\ puffing Billy Ltd sells goods to Mornington Ltd. The agreement between the two parties states that Mornington Ltd pays for the goods in advance of delivery which will occur in 12 months time. The...

Limbo. Limited had a profit after tax of $100 000 for the financial year. Included in this profit was: Depreciation expense of $24 000 Gain on sale of investments of $12 000 Also, accounts receivable...

ACP Project Solid Footing 14e Accounting Cycle Project Solid Footing 14e To activate your project, enter your: Software ID Code, First Name, and Last Name (press the Enter Key) -- then click Activate...

8. Company Y has an employee who is paid weekly. For Company Y the employee FICA- OASDI tax rate is 10%. The limit for FICA-OASDI is $50000 of employee annual earning subject to the applicable tax....

Consider the information that is maintained by a bank. In addition to customer records, the bank maintains records on accounts and loans. Figure 1-20 and Figure 1-21 (below) are two examples of...

Frank is a 60- year-old man who is well-loved in his community since he was a boy. He is someone who is outgoing, a party lover, and love to have fun hanging out with peers. Frank is confident about...

Is there any path along which the work done in moving the charge from P to R is less than the value from part ( b ) ? Explain

P-1) (100 Pts.) A chemical manufacturing company (CMC) has a contract for the procurement of the neccssaly chemicals from four suppliers. The chemicals purchased from Supplier A are priced at $20...

d. Describe any challenges in trying to communicate. If there were no challenges, explain why you think it was so easy.

f. Did they change their names? For what reasons?

2. Describe three approaches to the study of intercultural communication.