The use of brand names is especially important for services because of which unique characteristic of services?
A. inventory costs
B. inconsistency
C. inseparability
D. invisibility
E. intangibility
Answer: E
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I ____ remember the password for my LinkedIn account
A) can not B) cannot C) can-not
A will is revocable at any time during the life of testator
Indicate whether the statement is true or false
Advertising expenditures by U.S. corporations
A. average only about 2.5 percent of sales. B. are higher for newspaper advertising than television advertising. C. must be approved by an advertising agency that is registered with the Federal Trade Commission. D. are lower than in other countries. E. are highest for business product companies (as a percent of sales).
Nancy O'Rode, doing business as O'Rode Consulting, performs consulting services for companies that create online learning games for children. On January 1, 2018, she started a sole proprietorship by placing $15,000 cash in a bank account opened for the business. Each month during the year, O'Rode withdrew $500 cash from the business for personal use. At December 31, 2018, after the last withdrawal, the Drawings account reflected a debit balance of $6,000. During the year, the usual journal entries for the year, including adjusting and closing entries for the revenue and expense accounts, resulted in total revenue of $60,000, total expenses of $12,000, and net income of $48,000. (For purposes of the related journal entry, use the accounts "Consulting Revenue" and "Operating Expenses.")Part
a.Prepare the journal entry to record the initial capital contribution.Part b.Prepare the journal entry to record one of the monthly withdrawals.Part c.Prepare the journal entry to close the net income to the N. O'Rode, Capital account.Part d.Prepare the journal entry to close the N. O'Rode, Drawings accounts at the end of the year.Part e.Prepare a Statement of Owner's Equity for the year ending December 31, 2018. What will be an ideal response?