Lenham, inc. sells merchandise on credit. if a customer pays its balance due within the discount period, what is the effect of the payment on blenham's accounting equation?

Closing Entries with Net Income Assume that the entry closing total revenues of $3,190,000 and total expenses of $2,350,000 has been made for the year ending December 31.

Safty nets should be provided where the falling distance is 25 feet or more

Explain the tradeoffs that people may face when choosing a house or an apartment

Based on what you learned, how do most people plan to use their Social Security income in the future? As supplemental retirement income As their only retirement income They plan to start collecting at 56 All of the above

Prospect Realty Co. pays weekly salaries of $27,600 on Monday for a six-day workweek ending the preceding Saturday. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday.

Rahls issues stock to investors for $20,000, and has $5,000 of net income in its first year of operations. During Year 2, Rahls earns $10,000 in net income and pays a dividend to stockholders of $4,000.

Lowering the interest rate will:A. decrease spending on new homes. B. decrease spending on consumer durables. C. decrease the value of the dollar and lower net exports. D. increase investment projects by firms.

The length of time to perform an activity is often dependent upon who will do that work. True or False?

How are issues such as customer theft and spoilage addressed at year-end?

A fixed cost: Does not change with changes in the volume of activity within the relevant range. Requires the future outlay of cash and is relevant for future decision making. Is irrelevant for managers' decision making.