Business, 07.03.2020 05:42 Jaylen52709
Fortress Company paid $1200 on October 1, 2009 for one year of virus protection. The following journal entry was made:
10/1/09 Prepaid Software Service 1,200
Cash 1,200
The December 31, 2009 adjusting entry is
A.
debit Prepaid Software Service and credit Software Service Expense. $900
B.
debit Software Service Expense and credit Prepaid Software Service, $300.
C.
debit Software Service Expense and credit Prepaid Software Service, $900.
D.
debit Prepaid Software Service and credit Software Service Expense, $300.
rchased equipment on credit. Which of the following describes the effect of the transaction on the elements of the accounting equation.
A.
it decreases total assets but not stockholdersâ equity
B.
it decreases total assets and stockholdersâ equity
C.
it increases total assets and stockholdersâ equity
D.
it increases total assets but not stockholdersâ equity
Answers: 2
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Business, 22.06.2019 20:00
Qwest airlines has implemented a program to recycle all plastic drink cups used on their aircraft. their goal is to generate $7 million by the end of the recycle program's five-year life. each recycled cup can be sold for $0.005 (1/2 cent). a. how many cups must be recycled annually to meet this goal? assume uniform annual plastic cup usage and a 0% interest rate. b. repeat part (a) when the annual interest rate is 12%. c. why is the answer to part (b) less than the answer to part (a)?
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Which of the statements best describes why the aggregate demand curve is downward sloping? an increase in the aggregate price level causes consumer and investment spending to fall, because consumer purchasing power decreases and money demand increases. as the aggregate price level increases, consumer expectations about the future change. as the aggregate price level decreases, the stock of existing physical capital increases. as a good's price increases, holding all else constant, the good's quantity demanded decreases.
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Fortress Company paid $1200 on October 1, 2009 for one year of virus protection. The following journ...
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