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When services are sold on account?
Services are sold on account by which, when you receive revenue or income, it will be receivable if the revenue or income are not earned when the services is/or/are already performed
What services does BBandT Bank offer to account holders?
BB&T Banking Services offer a variety of common services for their account holders. This includes banking accounts, mortgage services, and safe deposit boxes. Premier account holders get even additional benefits for being a premier member.
What services can be accessed using RBC Bank online?
The services that can be accessed using RBC Bank online include logging into your account, checking your account balance whether in your savings account or checking account, along with asking questions with an employee online.
What is the difference between periodic and perpitual inventory system?
Periodic Inventory System Inventory account and cost of goods sold are non-existent until the physical count at the end of the year. Purchases account is used to record purchases. Purchase Return account is used to record Purchases Returns account. Cost of goods sold or cost of sale is computed from the ending inventory figure For goods returned by customers there are no inventory entries. Perpetual Inventory System Account and the balance of costs of goods sold and inventory account exist all the time. No individual purchases account but the purchases are recorded in the Inventory Account. No individual Purchase Returns account but the purchases return are recorded in the Inventory Account. Record cost of goods sold/cost of sale - inventory is reduced when there is a sale. Returns from customers are recorded by reducing the cost of goods sold and adding back into inventory.
Can you pay for chiropractic services using a Health Savings Account (HSA)?
Yes, you can typically pay for chiropractic services using a Health Savings Account (HSA) as long as the services are considered qualified medical expenses by the IRS.
When services are sold on account?
Services are sold on account by which, when you receive revenue or income, it will be receivable if the revenue or income are not earned when the services is/or/are already performed
What accounts are affected when services are provided on account?
Accounts Receivable - Debit Service Revenue - Credit
What accounts are affected when you bill customers for delivery services on account?
When you bill customers for delivery services on account, the accounts affected are Accounts Receivable and Revenue. Accounts Receivable increases, reflecting the amount customers owe for the services provided, while Revenue increases to recognize the income earned from the delivery services. This transaction does not immediately impact cash, as the payment is expected to be received later.
What two accounts are affected by the adjusting entry Merchandise Inventory?
The two accounts affected by the adjusting entry for Merchandise Inventory are the Merchandise Inventory account and the Cost of Goods Sold (COGS) account. When the inventory is adjusted to reflect the actual count or value, the Merchandise Inventory account is updated to show the correct ending balance, while the COGS account is adjusted to account for any changes in the total cost of inventory sold during the period. This adjustment ensures accurate financial reporting and inventory management.
What does sale on account mean?
A sale "on account" would usually refer to a transaction where goods or services are transferred (sold) to a customer (buyer) on credit terms (to be paid for later at a specific time).
What accounts affected in received payment on account?
"what accounts are affected and how when a payment on account is received from a customer
Which is correct the affected account or the effected account?
Affected account Affect mean something made it happenEffect means something already happen
How is the value of a dagger affected if it was sold or traded?
no
Which accounts are affected when the company provides services to a cash customer?
When a company provides services to a cash customer, the cash account increases due to the receipt of payment, while the service revenue account also increases, reflecting the income generated from the service. This transaction is recorded as a debit to the cash account and a credit to the service revenue account in the company's financial records. Additionally, there is no impact on accounts receivable, as the payment is received immediately.
What is an account receivable?
account receivables reflects those amount which the company has sold and payment for that sold items has not yet recieved so that amount will be booked as account recievables
What are the account titles of sold merchandise that cost 1500 for 2600 cash?
the answer is........... account title; cash 2600 merchandise sold 1500
Services rendered in accounting is what account?
revenue account
