Sebastian Belle has performed $2,000 of CPA services for a client but has not billed the client as of the end of the accounting period. What adjusting entry must Sebastian make?

The answer is: Debit Account Receivable $2,000; Credit Unearned Revenue $2,000.

Explanation: The accounting entries above were premised on the accrual accounting concept, which states that income and expenses are recognized as they occur regardless of when actual cash settlement takes place. The amount was credited to unearned revenue simply because the client has not been billed and there is not further information on the duration of the service. Therefore, the amount would be unwound from the unearned revenue to income, based on the duration of service and percentage of completion. However, when the client pays, the account receivable account would be credited.

answer(b); ; ; the quantitative or qualitative variable for which the experimenter wishes to determine how its value is affected by the explanatory variable;

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.