What is the journal entry to establish a petty cash fund?
What will be an ideal response?
Answer: debit to petty cash, credit to cash
Business
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During December 2016, Carroll Service Company performed $1,500 of services, but as of December 31, 2016, Carroll has not yet billed the clients
If Carroll fails to make an adjusting entry on December 31, 2016, indicate the effect on assets, liabilities, equity, and net income. Understated, Overstated, No Effect Assets Liabilities Equity Net Income What will be an ideal response
Business
A buyer wants to purchase a house as soon as possible and does not want to pay a loan origination fee.Which of the following loans would be BEST for the buyer
A. VA loan. B. FHA loan. C. Loan assumption. D. Conventional loan.
Business