For Each of the Following Economic Events Determine Whether the Event

question 61

Essay

For each of the following economic events determine whether the event is a business transaction on the date it occurs and whether it's recognized in the accounts on that date.Support your answer.
a On July 15,the controller of Kona Corporation orders a custom display case for the company's store.
b.On July 31,a new administrative assistant is hired at a monthly salary of $3,500.
c.On July 31,the controller of Kona Corporation receives a bill for electricity for the month of July.The bill is due on August 18 and will be paid on that date.

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Definitions:

Quebec

Quebec is a province in Canada, characterized by its French heritage, language, and culture, making it a unique region within the predominantly English-speaking country.

Viable

Capable of working successfully; feasible or capable of living, growing, or developing under given conditions.

Malthus

Refers to Thomas Robert Malthus, an English economist and demographer known for his theories on population growth and its impacts on resources.

European Development

The process of economic, social, and political change and growth in European countries, often involving integration, innovation, and the handling of challenges such as migration and regional disparities.