If you're bringing more than $10,000 CDN in cash or cash equivalent, it must be declared at the border. 1 / 1 point Increase of $4,000 If a husband and wife purchased two vehicles at one time from the same dealer, and the dealer received a total of $10,200 in cash, the dealer can view the transaction as a single transaction or two related transactions. Results of Journal Entry Cash balance increases by --> Increase in Assets Owner's Equity balance increases by $10,000. A company received $10,000 from a customer who had previously purchased services on account. A company received $8,500 from a customer for services that had been previously purchased on account. This month, the company should: -Debit Cash $10,000 and credit Service Revenue $10,000. According to the IRS, cash includes the coins and currency of the US or foreign countries, cashiers checks, bank drafts, travelers checks, and money orders with a face value of $10,000 or less. Cash 10,000 Accounts Receivable 10,000 c. Cash 10,000Unearned Revenue 10,000 d. Accounts Receivable 10,000Service Revenue 10, c . Transactions, such as revenue or expenses, are recorded when they happen under the accrual method rather than when a payment is made or received. How are transactions recorded using the accrual method? Company a receives 10000 in advance this month for - Course Hero In two or more related payments within 24 hours. The law prohibits a person from informing a payer that it marked the suspicious transaction box on the Form 8300. Prepare the general journal entry to record this transaction. Received a bill for $4,000 for work done this month by a consultant Paid $100 for a phone bill Sent out an invoice for $10,000 for service fees performed that month Received $100 in fees. The card earns 1 percent back thereafter. Prepare the general journal entry to record this transaction. Freight-out, the cost of shipping sold goods to the customer, is treated as a(an): 32. Message and data rates may apply. Place an Ad. Prepare the general journal entry to record this transaction. Equipment28,750 DEBITCash28,750 CREDIT. -Credits increase revenues. Rabine Company collected $3,700 from customers for services previously purchased on account. Prepare the general journal entry to record this transaction. Page Last Reviewed or Updated: 19-Aug-2022, Request for Taxpayer Identification Number (TIN) and Certification, Employers engaged in a trade or business who pay compensation, Informe de Pagos en Efectivo en Exceso de, Report of Cash Payments Over 10000 Received in a Trade or Business Motor Vehicle Dealership QAs, Guidance for the Insurance Industry on Filing Form 8300, Electronic Federal Tax Payment System (EFTPS), IRS reminds businesses filing cash transaction reports about e-file option; batch filing now available, Reporting cash transactions helps government combat criminal activities, Publication 1544, Reporting Cash Payments of Over $10,000, Treasury Inspector General for Tax Administration, Answers to technical questions about BSA's E-Filing System, Form 8300 and Reporting Cash Payments of Over $10,000. A 10,000 tonne per day processing facility; Average annual gold production of 150,000 ounces over the first five years; A 17-year mine life; Cash cost of US$669 per . During the month, a company uses up $4,000 of supplies. -increasing assets and decreasing revenues or increasing liabilities and decreasing expenses. Cash660,000 DEBITNote Payable (short-term)660,000 CREDIT. (A) Debit cash $10,000, credit accounts receivable $10,000, (B) Debit cash $10,000, credit sales revenue$1 0,000, (C) Debit sales revenue $10,000, credit cash $10,000, (D) Debit cash $10,000, credit unearned revenue $10,000, (E) Debit cash $10,000, credit accounts payable $10,000. Solved A company receives $10,000 cash for performing - Chegg Introducing Cram Folders! Vas Company paid $4,000 cash for a computer that had previously been purchased on account. . A company receives $10,000 in cash for services yet to be - YouTube b. earned Jane, a partner in a CPA firm, borrows $100,000 on a secured note from one of the firm's bank CVS does not currently bill medicare part b for? Prepare the general journal entry to record this transaction. (B) Debit cash $10,000, credit sales revenue$1 0,000 c. Net Income: It is the revenue over expenses during a particular period. Question 1: Presentation of Financial Statements From a broader viewpoint, an investment can be defined as "to tailor the pattern of expenditure and receipt of resources to optimise the desirable patterns of these flows". A designated reporting transaction is also the sale of a collectible, such as a work of art, rug, antique, metal, stamp or coin. Hancock and Kwarteng ask for 10,000-a-day to work for fake company A company received 10000 for services the company - Course Hero A company received $2,000 from a client for services it had previously performed. d record the transaction? A report of cash payments on a Form 8300 can be filed by mail, online, or through a tax professional. -a credit to Utilities expense. A company receives $10,000 in cash for services yet to be performed -Depreciation expense. Search for Structuring -debit of $4,500 to Accounts Payable and a credit of $4,500 to Cash. Using the accrual method, what's the correct entry to Prepare the general journal entry to record this transaction. (A) Debit cash$10,000, credit accounts receivable $10,000 (B) Debit cash$10,000, credit sales revenue$1 0,000 (C) Debit sales revenue$10,000, credit cash $10,000 Prepare the general journal entry to record this transaction. -Without adjustments, the financial statements present an incomplete and misleading picture of the company. Description of Journal Entry Owner invested $10,000 in the company. Prepare the general journal entry to record this transaction. A company receives $10,000 in cash for services yet to be performed.Using the accrual method, what's the correct entry to record the transaction?
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