11. Tito Ben is the owner of Jack's Magic Touch which offers beauty solutions to their customers. Jen is the nail specialist of the salon. If you are the bookkeeper of the entity, how would you account the payments received from Jen's customers? a. Salaries expense b. Service Income c. Salaries Income d. None of the above 12. From the above problem, if Jen receives a salary from Jack's Magic Touch amounting to P12,000 for one month, such payment will be treated as____________ in Jack's Magic Touch Statement of Comprehensive Income a. Salaries expense b. Service Income c. Salaries Income d. None of the above

Q: Jenny operated a small shop selling hygienic supplies and bought facial masks worth $15,000 from the…

A: Uncrossed bearer cheque :            It is a financial instrument which is also considered as…

Q: Ruby, opens her own law office, Ruby Associates (RA) which started the operation on 1ª January 2019.…

A: CALCULATION OF NET INCOME   CALCULATION PARTICULAR AMOUNT       A = 15,080 - 10,000 Revenue…

Q: in f) above. Angela De Dios, a business graduate student who was working as a mere employee in a…

A: The journal entries are prepared to keep the record of day to day transactions of the business.

Q: can Mr. Zuhair records his personal expenses in his Car cleaning service accounting books? Explain…

A: Given information is: Mr. Zuhair Started Car cleaning services in Ruwi with a capital of OMR 50,000…

Q: he following transactions were entered into by Dr. Jo Valdez for June: 04 Jo Valdez opened "Jo's…

A: Journal entry is the practice of recording commercial transactions for the first time in the books…

Q: The following events concern Anita Wilson, a Manitoba law school graduate, for March 2021: 1.   On…

A:

Q: 4. Marci Vigiani is a registered massage therapist in Ottawa, Ontario. A list of the assets and…

A: Part A CASH  DEBIT CREDIT   Balance b/d…

Q: Mary owns and operates a fabric shop. Mary needs to borrow money to expand; therefore, she prepared…

A: Reliability Principle The reliability principle is an accounting concept where transactions are…

Q: uzy Davao owns and operates a jewelry store. During the past month, she sold a necklace to a…

A: There are several forms of business organisation. These are sole proprietorship, partnership and…

Q: Joshua is president of an accounting firm that has 10 employees. The only employee benefit provided…

A: Group health insurance plans provides cover to  a group of employees of an organisation and such…

Q: Dalance. (a) Analyze the transactions in an accounting equation similar to the Clearcopy…

A: Accounting Equation: An accounting equation is an statement of equality between the resources and…

Q: Charlotte Braun is a realtor. She buys and sells properties on her own and she also earns commission…

A: Balance Sheet The purpose of preparing the balance sheet is to know the actual position of assets,…

Q: Choy, ufter recelving her degree in Hotel and Restaurant Management began her own business called…

A: Accounting equation of the business says that total assets must be equal to total liabilities and…

Q: 17. S1- Nicanor is selling fishballs earning Php 50,000 per year. He is classified as self-employed.

A: A selfemployed is a person doing a job as a sole or in partnership…

Q: The following events concern Anita LeTourneau, a Manitoba law school graduate, for March 2021:…

A: As per the Accounting equation, the sum of assets is always equal to sum of liabilities and…

Q: 1. Arden has the following information to evaluate: his current salary of $50,000 versus total…

A: Opportunity Cost is the cost of next best alternative. It is the cost of benefit forgone in favour…

Q: 2 Jasmine, the owner of Hot wheels Ltd, withdrew $5 000 from her business bank account to pay for…

A: A Business expense is incurred in ordinary course of Business, i.e. the expenses of such an expense…

Q: Cummings and Stickel Construction Company, a partnership, is operating a general contracting…

A: Journal entry is as follows: Accounts title and explanation Debit ($) Credit ($) Patricia…

Q: does not charge employees the $300 dealer preparation fee that nonemployees must pay. Ted purchased…

A: The total amount of salary a person receives in their paycheck before any deductions or taxes are…

Q: hristine opened a tour and travel business, “Tine Travels” on June 01, 2021.   1    Christine…

A: Income statements show the performance of the entity during the year. It indicates how the resources…

Q: Using the accounting equation to analyze transactions Tiny Town Kennel earns service revenue by…

A: Accounting equation: Accounting equation is an accounting tool expressed in the form of an equation,…

Q: Mr. Macal started an auto trading business and invested 50000 dollars in this business He sold his…

A: Accruals- It includes all those income or expenses which is not received or incurred/paid until now.

Q: During 2021, Cassandra Albright, who is single, worked part-time at a doctor's office and received a…

A: Form 1040: It is the form used by the US citizens and NRIs to file their annual income tax returns.…

Q: Peter operates a dental office in his home. The office occupies 250 square feet of his residence,…

A: A business's expenditure is the cost of operations spent in order to generate revenue. As the old…

Q: ask A motivated entrepreneur, Mrs. Amanda opened her beauty salon at the beginning of March 2020…

A: S. No Financial Transaction Name of the company-Amanda Entrprises   Business selected is online…

Q: Josh is an employee of a large Accounting firm in the city earning $120,000 per year. On weekends,…

A: As per the IRS, passive activity losses can be set off against other passive activities and even…

Q: THIS QUESTION REQUIRES AN ESSAY STYLE ANSWER Maddy and Maxie are running a coffee shop.. They agree…

A: A partnership form of business is a business where two or more people agree to start a business to…

Q: Mr. Dela Cruz opens a barbershop business for the month of September. he looks and analyze his…

A: The profits of an organization is calculated by deducting the expenses from the sales revenues.

Q: b) Puan Aina is currently a sales director of Gamuda Bina Sdn Bhd. She joined the company in year…

A: Tax is a charge on taxable income. When-ever the income goes above the mentioned tax free income…

Q: Connie Young , an architect, opened a office on October 1, 2019. During the month, she completed the…

A: The answer is as fallows

Q: The following events concern Anita Moore, a Manitoba law school graduate, for March 2021: 1.…

A: For analysis of business transactions, we have assumed that the accounting for the business will…

Q: 5. The following transactions were entered into by Dr. Jo Valdez for June: 04 Jo Valdez opened "Jo's…

A: Accounting Equation is an equation that shows the assets of an enterprise are equal to the…

Q: Eplain why a contract existed between your mother and Jewel on June 7, 2022?

A:

Q: On July 01, 2020, Maria initially invested P200,000 cash into Maria Merchandising. On the same date,…

A: Journal entries are the first recording of any transaction in the books of accounts on a…

Q: Mrs. C-hammer, the owner of Tura innovations, invests N$140 000 in her business. She also approaches…

A: A business valuation seems to be the procedure of evaluating the economic worth of an entire company…

Q: WABWIRE starts business on 1* July 2021, when he pays Sbs. 180,000 into business account. During the…

A: The journal entries are prepared to keep the record of day to day transactions of the business.  The…

Q: what do you mean by this? The postage and telegram expense and 50% of salaries pertains to the…

A: The postage and telegram expense and 50% of salaries pertains to the corporate  office while the…

Q: _5. When an entrepreneur financed his/her business with debt, lender has the right to tel him/ her…

A: Hi, there, Thanks for posting the question. As per our Q&A honour code, we must answer the first…

Q: 4. Mr. Zuhair Started Car cleaning services in Ruwi with a capital of OMR 50,000 and earns a profit…

A: Capital It is the sum of money which is being used to start a business And we can also use the term…

Q: a. El Granado invested P157,000 cash to establish the business b. Bought office desks and filing…

A: Introduction: Journals: Recording of a business transactions in a chronological order. First step in…

Q: The following are your clients as a Consultant: S1 – an online seller of cakes and pastries whose…

A: A. Taxpayer should be self employed individual. B. The gross turnover in the taxable year should not…

Q: Emily owns three businesses: a dry cleaner, a market, and a candy store. The dry cleaner has revenue…

A: Revenue Recognition: In generally accepted accounting principles (GAAP), "revenue recognition"…

Q: Choy, after receiving her degree in Hotel and Restaurant Management began her own business called…

A: Accounting equation of the business is one of the important element of accounting. This says that…

Q: Explain if the business has a liability in respect of the accountant’s salary as at May 1st

A: Given information is: Mr. Mohammed has a big service company called Intaj in Ma’abila. He hired an…