Your friends sees your answer #1 and assumes that each of those people has a high credit score . Why is your friend incorrect ?

Answer:

Services revenue: 44,000 debit

      Income Summary: 44,000 credit

--to finalize revenue accounts--

Income Summary: 33,100 debit

Depreciation expense—Equipment: 3,000 credit

Salaries expense: 22,000 credit

Insurance expense: 2,500 credit

Rent expense: 3,400 credit

Supplies expense: 2,200 credit

--to finalize expense accounts--

Income Summary: 7,000 debit

     A. Cruz, Withdrawals: 7,000 credit

--to finalize withdrawals account--

Income Summary: 3,900 debit

      A. Cruz, Capital Account: 3,900 credit

--to adjust Income Summary against Cruz’s capital account--

Cash: 19,000

Supplies: 13,000

Prepaid insurance: 3,000

Equipment: 24,000

Accumulated depreciation—Equipment: 7,500

A. Cruz, Capital: 51,500

Totals: 59,000 59,000

Explanation:

To complete the accounting cycle, we utilize the income summary to close off revenues, expenses, and withdrawals accounts. The resulting balance will be allocated to Cruz Capital Account.

Income summary balance: 44,000 - 33,100 - 7,000 = 44,000 - 40,100 = 3,900

Finally, we will prepare the trial balance, recognizing that assets carry a debit balance while liabilities and equity are credited.

This verification ensures that everything aligns with Debit = Credit.

Explanation:With hedge protection, the company must utilize the forward exchange rate applicable at the time of entering the forward contract when the payment date arrives. The question is incomplete. Below are the details that need to be included along with the picture of the spot rate and forward exchange rate.

Answer: The right answer is "subjective norm".

Explanation: If a college student contemplating a tattoo pauses to consider her parents' opinions regarding such an action, this thought process would reflect her subjective norm, as it specifically hinges on her parents' potential views about her behavior.

Answer:

0.45

Explanation:

Total asset turnover indicates the ratio of total assets to total revenue. It evaluates how effectively a company is employing its assets to generate sales.

The calculation is performed as follows: Net Sales / Average Total Assets.

Average total assets are determined by: (Asset at Start + Asset at End) / 2.

Using the given data:

Total revenue = $900,000 and total assets = $2,000,000.

$900,000/$2,000,000 = 0.45.

Note: Since the beginning and ending assets are not specified, we assume $2,000,000 represents the average assets.