Indicate how each event affects the elements of financial statements. Use the following letters to record your answer in the box shown below each element. You do not need to enter amounts. Increase = I Decrease = D No Effect = NA (Note that "No Effect" means that the event does not effect that element of the financial statements or that the event causes an increase in that element is offset by a decrease in that same element.)An adjusting entry recorded as a debit to Unearned Revenue and a credit to Service Revenue.AssetsLiabilitiesStk. EquityRevenuesExpensesNet IncomeStmt of Cash Flows???????
What will be an ideal response?
(NA) (D) (I) (I) (NA) (I) (NA)
Debits decrease liability accounts, such as unearned revenue, and credits increase revenue accounts, which in turn increases stockholders' equity.
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Find the maturity value of the loan (use the formula MV = P(1+ RT) to find the maturity value): Principal Rate Time Maturity Value $10,900 8% 3 years
What will be an ideal response?
Which of the following best explains why the United States government regulates marketers' anticompetitive behavior?
A) to ensure consumer safety B) to ensure public safety C) to promote the welfare of the country's economic system D) to control the country's economic system E) to achieve specific social goals
Traditional standard costs are inappropriate measures for performance evaluation in the "new era" of manufacturing because they
a. build in allowances for non-value-adding activities. b. are based on historical information. c. don't reflect current costs. d. are ideal goals.
Scholarly journals in the social sciences tend to use the APA referencing method, while MLA is commonly used in the humanities
Indicate whether the statement is true or false