Julio has a house worth $220,000. he has a $175,000 mortgage. julio says that in this situation, his asset is really only $45,000. which statement explains whether julio is correct?
a. julio is correct because the $45,000 equity in the house is the real asset.
b. julio is correct because he can pay $45,000 and have no more liabilities.
c. julio is not correct because the same item cannot represent both an asset and a liability.
d. julio is not correct because the house cannot be worth more than the mortgage.

Adebit card is also know a( a) cash card b) credit card c) gift card d) atm card

Required prepare the necessary adjusting entries in the general journal as of december 31, assuming the following: on september 1, the company entered into a prepaid equipment maintenance contract. birch company paid $3,400 to cover maintenance service for six months, beginning september 1. the payment was debited to prepaid maintenance. supplies on hand at december 31 are $3,900. unearned commission fees at december 31 are $7,000. commission fees earned but not yet billed at december 31 are $3,500. (note: debit fees receivable.) birch company's lease calls for rent of $1,600 per month payable on the first of each month, plus an annual amount equal to 1% of annual commissions earned. this additional rent is payable on january 10 of the following year. (note: be sure to use the adjusted amount of commissions earned in computing the additional rent.)

The research of robert siegler and eric jenkins on the development of the counting-on strategy is an example of design.