Research and Development costs should be: Expensed in the period incurred Expensed if unsuccessful, capitalized if successful Expensed in teh preiod they are determined to be unsuccessful Deferred pending determination of success

What do economists mean when they use the latin expression ceteris paribus?

Who has summer school : ( because i do : (

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.