Gloria Catering provided $1,000 of catering services and billed its client for the amount owed. Determine the general journal entry that Gloria Catering will make to record this transaction.
A.
| Accounts Receivable | 1,000 | |
| Unearned Catering Revenue | 1,000 |
B.
| Unearned Catering Revenue | 1,000 | |
| Catering Revenue | 1,000 |
C.
| Catering Revenue | 1,000 | |
| Accounts Receivable | 1,000 |
D.
| Accounts Receivable | 1,000 | |
| Catering Revenue | 1,000 |
E.
| Accounts Payable | 1,000 | |
| Catering Revenue | 1,000 |
Answer: D
You might also like to view...
Sourcing of products from sweatshops is a major issue with most retailers as the labour abuses include:
A) child labour B) poor working conditions C) poor health and safety D) low pay E) all of the above
Which of the following tests evaluates such factors as entry barriers, supplier bargaining power, and the number of substitute products available?
A. The just-like-me test B. The better-off test C. The attractiveness test D. The cost-of-entry test
While there may be no simple answer to the question of how gender influences negotiation, recent studies are shedding light on differences that do exist and why it can be hard to find those differences when comparing male and female negotiators. Which of the options sum up the findings in just a few words?
A. the situation matters B. there are no gender differences C. women negotiate better outcomes D. men negotiate more cooperatively
(CMA adapted, Jun 90 #18) Regarding the data for Ramer and Matson Company, if a company is profitable and is effectively using leverage, which one of the following ratios is likely to be the largest?
a. return on total assets b. return on operating assets c. return on common equity d. return on investment e. none of the above