Answer:
Explanation:
The journal entry is shown below:
Cash A/c Dr $2,200
To Service revenue $2,200
(Being cash is received)
Since the cash is received so we debited the cash account and credited the service revenue account as the service is completed which create an income for the business organization.
We do not write unearned service revenue as the amount is actually received from the customer
Answer: A
Cross training
Explanation:
Cross training involves teaching an employee the the skills required to execute the task he/she was employed for and also the skills required to perform a different job function. G4S is a security firm and the primary job function of its recruit will be protecting life but there might be case of an injured individual that need quick medical help, in such cases an employee is required to know basic first aid. Hence the need for cross training.
The correct answer to this question is letter "b. to prevent monopolies and collusion." An essential government role in market economies is <span>to prevent monopolies and collusion. If it happens that there is monopoly and collision, then it will be a big problem to consumer.</span>
Answer:
$ 210 million
Explanation:
Data provided :
Taxable income for the current year = $ 300 million
Tax rate of the income = 40%
therefore, the income tax for the current year = 0.40 × $ 300 million
or
the income tax for the current year = $ 120 million
Decrease in the deferred tax assets = $ 30 million
Increase in the deferred tax liabilities = $ 60 million
Hence,
the total income tax expense for the year
= $ 120 million + $ 30 million + $ 60 million
or
= $ 210 million