Answer:
$84,000
Explanation:
The computation of August cash disbursement for manufacturing overhead is seen below;
Direct labor hour
5,600
Variable overhead per hour
$5.4
Variable manufacturing overhead
$30,240
Fixed manufacturing overhead
$69,440
Total manufacturing overhead
$99,680
Less: Depreciation
$15,680
Cash disbursement for manufacturing overhead
$84,000
Artisan Inspiration, Inc. is a merchandiser of stone ornaments. The company sold 8000 units during the year. The company has provided the following information:
Sales Revenue $593,000
Purchases (excluding Freight In) 304,000
Selling and Administrative Expenses 68,000
Freight In 14,000
Beginning Merchandise
Inventory 46,000
Ending Merchandise Inventory 42,000
What is the operating income for the year? (Round your answer to the nearest whole dollar.)
A) $203,000
B) $271,000
C) $322,000
D) $525,000
Answer:
Net operating income= $203,000
Explanation:
First, we need to calculate the cost of goods sold:
COGS= beginning finished inventory + cost of goods purchased - ending finished inventory
COGS= 46,000 + (304,000 + 14,000) - 42,000
COGS= $322,000
Now, we can determine the net operating income using the following formula:
Net operating income= sales - cogs - Selling and Administrative Expenses
Net operating income= 593,000 - 322,000 - 68,000
Net operating income= $203,000
In 2020, Simon, age 12, has interest income of $7,500 on funds he inherited from his grandmother, and no earned income. He has no investment expenses. His parents have a taxable income of $82,250 and file a joint return. Assume that no parental election is made. If required, round the tax computations to the nearest dollar.
Simon's net unearned income is $.
Simon's allocable parental tax is $.
Simon's total tax is $.
Answer:
Simon's net unearned income is $5,300. Simon's allocable parental tax is $1,166. Simon's total tax is $1,276.Explanation:
Simon net unearned income = Earned income - Standard deduction - Statutory deduction
= 7,500 - 1,100 - 1,100
= $5,300
Parents filling together with a gross income of $82,250 will fall under the 22% tax bracket.
Simon allocable parental tax = 5,300 * 22%
= $1,166
At kiddie tax rates, maximum unearned income to be taxed is $2,200.
Simon falls under 10% range in 2020.
Tax = (2,200 - $1,100 deduction) * 10%
= $110
Simon total tax = Allocable parental tax + tax on unearned income
= 1,166 + 110
= $1,276
The Bureau of Labor Statistics reported the consumer price index as 229.6 in December 2012, and 246.5 in December 2017. By what percentage did the index increase from the end of 2012 to the end of 2017 (rounded to one decimal place)
Answer:7.4%
Explanation: In December 2017, the CPI stood at 246.5 up from 229.6 in December 2012. This is a 7.4% increase [(246.5-229.6) /229.6] *100=7.4
A company called Brightline has made a deal with Disney to create a rail station at Disney Springs on its planned route from Miami to Tampa. Read about this. Is a private rail link a good idea? Will it make Amtrak function any better? Will it create openings for private sector rail owner/operators as was the case in the USA before Amtrak and as is the case in the UK where not all rail services are BritRail?
Answer:
The answer for all three questions is yes.
A private player will increase competition and will make Amtrak provide a better service. Private companies are generally more efficient since their focus is on creating value.
Amtrak might benefit since the private rail might be used as additional help when their service is overloaded.
Increased competition and increase in private investment is always better for everyone since it creates new opportunities.
When a speaker ignores the audience's ideals and expectations:
O
A. the speaker's feelings might be hurt.
B. the speaker's grades may be poor.
C. the audience might change their values.
D. it is likely that the audience will distrust the speaker.
SUBMIT
Answer:
D, It is likely that the audience will distrust the speaker.
Explanation:
100% For Sure, Right Answer
A p e x
Hope This Helps! <3
Instructions
1. Column C. should be type asset liabilitt revenue equity or expense
2. Coloumn D OR E should have a YES OR NO.
3. Fill in debit or credit- which is normal balance of the account, (INCREASE SIDE)
4. Fill in which type of account is it? Temporary or permanent.
Account Name Type: Asset, Will be Will be Normal Temporary or
liability, equity, on the on the Balance Permanent
revenue or Income balance is Debit
Expense statement Sheet or Credit
Cash
Capital Stock
Mortgage Payable
Interest Receivable
Supplies
Account Payable
Short Term Investments
Repair Expense
Unearned Service Revenue
Equipment
Depreciation Expense
Interest Revenue
Salaries Expense
Retained Earnings
Accumulated Depreciation
Utilites Expense
Salaries Payable
Account Receivable
Notes Payable
Service Revenue"
Answer:
I attached a picture of an Excel table I used to work this. I also attached the proper format of the question that I found that helped answer this.
Ebay, Inc. went public in September of 1998. The following information on shares outstanding was listed in the final prospectus filed with the SEC. In the IPO, the Ebay issued 3,500,000 new shares. The initial price to the public was $18.00 per share. The final first-day closing price was $44.88. If the investment bankers retained $1.26 per share as fees, what was the net proceeds to Ebay in dollars
Answer:
Net proceeds to Ebay = $ 58,590,000.
Explanation:
An Initial Public Offering(IPO) refers to the sales of new block of shares to the general public by a company for the purpose of raising equity capital.
This exercise is always promoted by a third-party company referred to as an underwriter for a fee. The underwriter adds value to the capital raising share offering by contracting to buy up unsold share units should they be undersubscribed. The underwriting fee is a cost to the issuing company.
The net share capital due to the company is computed as follows
Gross share proceeds - underwriting fee
= (3,500,000 × $18.00) - (3,500,000× $1.26)
=$ 58,590,000.
Net proceeds to Ebay = $ 58,590,000.
The closing price of $44.88 is a distracter and should be ignored.
World trade benefits from free and fair trade among nations. Nevertheless, governments of many countries continue to practice protectionism. While protectionism earns profits for domestic producers and tariff revenues for governments, consumers pay higher prices because of protective restrictions. Imposing tariffs increases the price of goods to consumers. Removing tariffs decreases the price of goods to consumers. Imposing quotas limits supply and therefore increases the price of goods to consumers. Removing quotas makes products more available and therefore decreases the price of goods to consumers.
Answer:
Economic effects of imposing a tariff is that it will increase the prices for the goods and consumers will have to pay more for certain good.
Explanation:
Many countries promote trade without tariff so that they can benefit the consumers of their country, but this is only possible if both countries have good relations. Many countries are governed by World trade organizations in order to govern the trade policies. The countries can flourish their trade if they have minimum tariffs and trade policies. Imposition of higher tariff will create burden on consumers of a country.
The following accounts and balances are taken from Anstett Company's adjusted trial balance:
Accounts Payable $10,000
Accounts Receivable 3,000
Accumulated Depreciation 1,800
Depreciation Expense 1,800
Dividends 2,000
Insurance Expense 2,300
Interest Revenue 1,340
Prepaid Insurance 2,320
Retained Earnings 10,100
Salary Expense 25,100
Service Revenue 37,800
What is the ending balance in Retained Earnings after the closing entries are completed?
A $15,720
B $20,040
C $18,240
D $18,040
Answer:
D. $18,040
Explanation:
Given the above information,
Total revenue = Interest revenue + Service revenue
= $1,340 + $37,800
= $39,140
Total expenses = Depreciation expense + Insurance expense + Salary expense
= $1,800 + $2,300 + $25,100
= $29,200
Net income = Total revenue - Total expenses
= $39,140 - $29,200
= $9,940
Therefore,
Ending retained earning balance = Beginning retained earnings + Net income - Dividends
= $10,100 + $9,940 - $2,000
= $18,040
On January 1, JKR Shop had $560,000 of beginning inventory at cost. In the first quarter of the year, it purchased $1,700,000 of merchandise, returned $24,200, and paid freight charges of $38,700 on purchased merchandise, terms FOB shipping point. The company's gross profit averages 25%, and the store had $2,110,000 of net sales (at retail) in the first quarter of the year. Use the gross profit method to estimate its cost of inventory at the end of the first quarter.
Beginning inventory $560,000
Net cost of goods purchased 1,714,500
Cost of goods available for sale 2,274,500
Estimated cost of goods sold 2,274,500
Estimated March 31 inventory $6,920,000
Answer:
Estimated march 31 inventory $586,500
Explanation:
The computation is shown below:
Beginning Inventory $560,000
Net cost of goods purchased $1,714,500 (1700000-24200+38700)
Cost of goods available for sale $2,274,500
Estimated cost of goods sold $1,688,000 ($2110000 ÷ 125 × 100)
Estimated march 31 inventory $586,500
Which critical factor must Mac, an entrepreneur, consider to select his suppliers?
A.
the assurance that the supplier will provide 100 percent original material
B.
the assurance that the supplier will always provide a flat discount rate regardless of the market condition
C.
the assurance that the supplier will be able to meet urgent and immediate demands at all times
D.
the assurance that Mac will earn customer loyalty by producing goods sold by the supplier
E.
the assurance that Mac’s business will expand every financial year
Answer:
c
Explanation:
How would the Security Market Line be affected, other things held constant, if the expected inflation rate decreases and investors also become more risk averse? a. The y-axis intercept would decline, and the slope would increase. b. The x-axis intercept would decline, and the slope would increase. c. The y-axis intercept would increase, and the slope would decline. d. The SML would be affected only if betas changed. e. Both the y-axis intercept and the slope would increase, leading to higher required returns.
Answer: a. The y-axis intercept would decline, and the slope would increase.
Explanation:
The security market line is simply refered to as the graphical representation of a CAPM which is the capital asset pricing model and it simply shows the market risk, of the securities in the market which is then plotted against the market return.
When the expected inflation rate decreases and the investors also become more risk averse, the Security Market Line would be affected, as the y-axis intercept would decline, and the slope would increase.
The management of Lanzilotta Corporation is considering a project that would require an investment of $263,000 and would last for 8 years. The annual net operating income from the project would be $99,000, which includes depreciation of $31,000. The scrap value of the project's assets at the end of the project would be $15,000. The cash inflows occur evenly throughout the year. The payback period of the project is closest
Answer: 2 years
Explanation:
Firstly, we need to calculate the annual cash inflow which will be:
= Net Operating Income + Depreciation
= $99,000 + 31,000
= $130,000
Payback period = Initial Investment / Annual cash inflow
= $263,000 / 130,000
= 2.02Years
= 2 years approximately
The payback period is 2 years.
Alpaca Corporation had revenues of $200,000 in its first year of operations. They have not collected on $20,000 of their sales, and still owe $25,000 on $70,000 of merchandise they purchased. The company had no inventory on hand at the end of the year. The company paid $15,000 in salaries. Owners invested $20,000 in the business and $20,000 was borrowed on a five-year note. The company paid $2,000 in interest that was the amount owed for the year, and paid $6,000 for a two-year insurance policy on the first day of business. Alpaca has an effective income tax rate of 40%.
Compute the cash balance at the end of the first year for Alpaca Corporation.
Answer:
Closing balance $110000
Explanation:
The computation of the cash balance at the end of the first year is shown below:
Funds raised from owners $20000
Less: Funds borrowed $20,000
Collection from debtors $180,000 ($200,000 - $20,000 )
Less: Payment for merchandise $45000
Salaries paid $15000
Interest paid $2000
Insurance policy paid $6000
Income tax at 40% $42000
Closing balance $110000
Working note:
Calculation of tax paid
Sales 200000
Less: purchases 75000
salary 15000
interest 2000
insurance(50% of 6000) 3000
Income 105000
Tax at 40% 42000
Naumann Corporation produces and sells a single product. Data concerning that product appear below: Per Unit Percent of Sales Selling price $ 200 100 % Variable expenses 36 18 % Contribution margin $ 164 82 % Fixed expenses are $130,000 per month. The company is currently selling 1,200 units per month. Required: Management is considering using a new component that would increase the unit variable cost by $46. Since the new component would improve the company's product, the marketing manager predicts that monthly sales would increase by 400 units. What should be the overall effect on the company's monthly net operating income of this change if fixed expenses are unaffected
Answer:
An increase in net operating income of $127,200
Explanation:
Consider the variable effect of the changes.
Sales ($400 x 400) $160,000
Less Variable expenses ( $82 x 400) ($32,800)
Contribution $127,200
therefore,
An increase in net operating income of $127,200
Whitewater Wine Foundation expects 125,000 attendees at their May festival. Wine-tasters pay a $10 entrance fee which includes a tasting glass and wine-tasting wristband. Designated drivers pay a $5 entrance fee and receive a ticket for one non-alcoholic drink. Of the attendees, 10% are expected to be designated drivers. Costs to the festival are $.25 for wristbands, $.90 for tasting glasses and $.15 for non-alcoholic drinks. All drink tickets are expected to be used. What is the total purchases budget for the May festival
Answer:
Total purchase budget= $134,375
Explanation:
First, we need to calculate the number of wristbands, tasting glasses, and non-alcoholic drinks glasses.
Wristbands= one per attendant= 125,000
Tasting glasses= 125,000*0.90= 112,500
Non-alcoholic drinks glasses= 125,000*0.10= 12,500
Now, the total purchase budget:
Purchases:
Wristbands= 125,000*0.25= 31,250
Tasting glasses= 112,500*0.9= 101,250
Non-alcoholic drinks glasses= 12,500*0.15= 1,875
Total purchase budget= $134,375
Riverton Corp., which began business at the start of the current year, had the following data: Planned and actual production: 40,000 units Sales: 37,000 units at $15 per unit
Production costs: Variable: $4 per unit
Fixed: $260,000
Selling and administrative costs:
Variable: $1 per unit
Fixed: $32,000 The contribution margin that the company would disclose on a variable-costing income statement is:________.
a. None of the answers is correct.
b. $166,500.
c. $97,500.
d. $370,000.
e. $147,000.
Answer:
B. $166,500
Explanation:
Given the above information, we'll calculate fixed cost per unit.
Fixed cost per unit
= $260,000 ÷ 40,000 units
= $6.5 per unit
Then,
Sales per units
= Variable cost per unit - Fixed costs per units
= $15 - $4 - $6.5
= $4.5
Contribution margin
= $4.5 × 37,000
= $166,500
Carlin and Marley, an accounting firm, provides consulting and tax planning services. For many years, the firm's total administrative cost (currently $270,000) has been allocated to services on this basis of billable hours to clients. A recent analysis found that 55% of the firm's billable hours to clients resulted from tax planning services, while 45% resulted from consulting services. The firm, contemplating a change to activity-based costing, has identified three components of administrative cost, as follows: Staff Support$200,000 In-house computing charges 50,000 Miscellaneous office costs 20,000 Total$270,000 A recent analysis of staff support found a strong correlation with the number of clients served. In contrast, in-house computing and miscellaneous office cost varied directly with the number of computer hours logged and number of client transactions, respectively. Consulting clients served totaled 35% of the total client base, consumed 30% of the firm's computer hours, and accounted for 20% of the total client transactions. If Carlin and Marley switched from its current accounting method to an activity-based costing system, the amount of administrative cost chargeable to consulting services would:
Answer:
Carlin and Marley
Using activity-based costing system, the amount of administrative cost chargeable to consulting services would be:
= $89,000
instead of $121,500 using the traditional method.
Explanation:
a) Data and Calculations:
Services provided by the accounting firm = consulting and tax planning
Total administrative cost = $270,000
Traditional allocation basis = billable hours to clients
Services Tax Planning Consulting Total
Traditional cost pool basis:
Billable hours to clients 55% 45% 100%
Activity cost pool bases:
Client base 65% 35% 100%
Computer hours 70% 30% 100%
Total client transactions 80% 20% 100%
Activity Pools Overhead Costs Activity Basis
Staff Support $200,000 Number of clients served
In-house computing charges 50,000 Number of computer hours
Miscellaneous office costs 20,000 Number of client transactions
Total administrative cost = $270,000
Overhead Allocation for each Activity Cost Pool:
Services Total Tax Planning Consulting
Staff Support $200,000 $130,000 $70,000
In-house computing charges 50,000 35,000 15,000
Miscellaneous office costs 20,000 16,000 4,000
Total administrative cost = $270,000 $181,000 $89,000
Traditional costing method:
Billable hours to clients 100% 55% 45%
Amount based on billable hours $270,000 $148,500 $121,500
economics is the study of a society's financial institutions. true or false
Answer:
False
Explanation:
Economics is the study of a society's financial institutions. This statement is False.
What is Economics?Economics is a social science that examines how products and services are produced, distributed, and consumed as well as the decisions that people, corporations, governments, and nations make when allocating resources.
While macroeconomics focuses on the behavior of the economy as a whole on an aggregate level, microeconomics focuses on the decisions made by individuals and enterprises.
Hesiod, a Greek farmer, and poet who lived in the eighth century B.C. is one of the oldest economists known to have written about the necessity for efficient allocation of labor, resources, and time to combat scarcity. The first modern Western economic ideas emerged with the publication of Adam Smith's book An Inquiry Into the Nature and Causes of the Wealth of Nations in 1776.
To learn more about Economics follow the link.
https://brainly.com/question/7138202
#SPJ6
Keyser Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price $133 Units in beginning inventory 950 Units produced 8,850 Units sold 8,950 Units in ending inventory 850 Variable costs per unit: Direct materials $ 29 Direct labor $ 46 Variable manufacturing overhead $ 10 Variable selling and administrative expense $ 20 Fixed costs: Fixed manufacturing overhead $ 70,800 Fixed selling and administrative expense $164,200 The company produces the same number of units every month, although the sales in units vary from month to month. The company's variable costs per unit and total fixed costs have been constant from month to month. What is the net operating income for the month under absorption costing
Answer:
$93
Explanation:
Product cost under absorption costing = all manufacturing overheads
= $93
This is the Cost per unit manufactured
The cost of direct materials transferred into the Bottling Department of the Mountain Springs Water Company is $1,098,900. The conversion cost for the period in the Bottling Department is $603,000. The total equivalent units for direct materials and conversion are 33,300 liters and 6,700 liters, respectively. Determine the direct materials and conversion cost per equivalent unit.
Answer:
direct materials = $33.00
conversion cost = $90.00
Explanation:
Cost per equivalent unit = Cost during the period ÷ Equivalent units of Production
The direct materials and conversion cost per equivalent unit.
Direct materials = $1,098,900 ÷ 33,300 liters = $33.00
Conversion cost = $603,000 ÷ 6,700 liters = $90.00
what is a work bench
Answer:
A workbench is a sturdy table at which manual work is done. They range from simple flat surfaces to very complex designs that may be considered tools in themselves. ... Almost all workbenches are rectangular in shape, often using the surface, corners and edges as flat/square and dimension standards.
John is 63 years old, owns his house, and is a little bit anxious about whether
he has enough money for retirement. He is considering borrowing $20,000
against his home to invest in a series of aggressive growth sock mutual funds.
The track record for these funds over the last three years has been an average
growth rate of 21.2%. The interest rate on the loan would only be 7.5%. Should
john do this to help with his retirement?
Answer:
yes
Explanation:
John makes more money per year with the growth stock mutal funds
It will be an wise decision to borrow $20,000 against his home to invest in a series of aggressive growth sock mutual funds.
What is a wise investment decision?This involve making decision that seems abnormal but are quite effective in the long-run.
Hence, it is a wise decision for John for his retirement if he $20,000 against his home to invest in a series of aggressive growth sock mutual funds because the high rate of the mutual fund will offset the loan interest rate.
Read more about wise investment decision
brainly.com/question/11785270
#SPJ2
Hazel sells books online for $10.95 each. All of her 630 customers came from her FB friends. How much did she make through FB sales?
Answer:
she has to sell it $6300 that is it price
$6300 is the amount she makes through FB sale, as Hazel sells books online for $10.95 each. All of her 630 customers came from her FB friends.
What is customers?An individual or business that purchases goods or services from another company is known as a customer. Consumers are crucial to businesses because they generate income; without them, they would cease to exist.
A client is a company that buys textiles to produce garments that will be sold again. To assemble an automobile, a manufacturing company buys components. The manufacturing business is a client.
The Undaunted Striver, Impulsive Spender, Balanced Optimist, Ambitious Struggler, Conservative Homebody, Independent Skeptic, and Safe Traditionalist are seven worldwide consumer types that Euromonitor's survey team created using the survey data.
An individual or business that purchases goods or services from another company is known as a customer. Consumers are crucial to businesses because they generate income; without them, they would cease to exist.
Thus, $6300 is the amount.
For more information about customers, click here:
https://brainly.com/question/13472502
#SPJ6
define private equity funds.
Answer:
Private equity is composed of funds and investors that directly invest in private companies
Hope this helps!
Mustang Corporation had 100,000 shares of $2 par value common stock outstanding. On December 31, 2018, the company's board of directors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20, 2019 to the stockholders of record on January 15, 2019. The market price of the company's stock is $10 per share on December 31, 2018.
Complete the necessary journal entry to record the declaration of the stock dividend by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns
list Journal entry worksheet
Mustang Corporation had 100,000 shares of $2 par value common stock outstanding On December 31, 2018, the company's board of directors declares a 20 percent stock dividend. This stock dividend will be distributed on January 20, 2019 to the stockholders of record on January 15, 2019. The market price of the company's stock is $10 per share on December 31, 2018
Note Enter debit before credits
Date General Journal Debit Credit
Dec 31
Record entry Clear entry View General journal
Answer:
1. Dec 31, 2018
Dr Retained Earnings $200,000
Cr Common Stock dividend distributable $40,000
Cr Paid in Capital in Excess of par $160,000
2. Jan 15 , 2019
No Journal Entry is required
3. Jan 20 , 2019
Dr Common Stock dividend distributable $40,000
Cr Common Stock $40,00
Explanation:
Preparation of the necessary journal entry to record the declaration of the stock dividend
1. Dec 31, 2018
Dr Retained Earnings $200,000
(100,000 Shares * 20%* $ 10)
Cr Common Stock dividend distributable $40,000
(100,000 Shares * 20%* $2)
Cr Paid in Capital in Excess of par $160,000
($ 200,000 - $ 40,000 )
2. Jan 15 , 2019
No Journal Entry is required
3. Jan 20 , 2019
Dr Common Stock dividend distributable $40,000
Cr Common Stock $40,000
(100,000 Shares * 20%* $2)
XYZ Corporation is contemplating the replacement of an existing asset used in the operation of its business. The original cost of this asset was $28,000; since date of acquisition, the company has taken a total of $20,000 of depreciation expense on this asset. The current disposal (market) value of this asset is estimated as $18,000. XYZ is subject to a combined income tax rate, t, of 34%. What is the projected after-tax cash flow associated with the sale of the existing asset, rounded to nearest hundred dollars
Answer:
The projected after-tax cash flow associated with the sale of the existing asset is $14,600.
Explanation:
The projected after-tax cash flow can be calculated as follows:
Net book value of the asset = Original cost - Accumulated depreciation expense = $28,000 - $20,000 = $8,000
Capital gains = Estimated current disposal (market) value of the asset - Net book value of the asset = $18,000 - $8,000 = $10,000
Capital gains tax = Capital gains * Tax rate = $10,000 * 34% = $3,400
Projected after-tax cash flow = Estimated current disposal (market) value of the asset - Capital gains tax = $18,000 - $3,400 = $14,600
Therefore, the projected after-tax cash flow associated with the sale of the existing asset is $14,600.
Below are the transactions for Ute Sewing Shop for March, the first month of operations.
March 1 Issue common stock in exchange for cash of $1,400.
March 3 Purchase sewing equipment by signing a note with the local bank, $1,100.
March 5 Pay rent of $440 for March.
March 7 Martha, a customer, places an order for alterations to several dresses. Ute estimates that the alterations will cost Martha $640. Martha is not required to pay for the alterations until the work is complete.
March 12 Purchase sewing supplies for $114 on account. This material will be used to provide services to customers.
March 15 Ute delivers altered dresses to Martha and receives $640.
March 19 Ute agrees to alter 10 business suits for Bob, who has lost a significant amount of weight recently. Ute receives $540 from Bob and promises the suits to be completed by March 25.
March 25 Ute delivers 10 altered business suits to Bob.
March 30 Pay utilities of $79 for the current period.
March 31 Pay dividends of $70 to stockholders.
1. Record each transaction.
2. Post each transaction to the appropriate T-accounts.
3. Calculate the balance of each account at March 31.
4. Prepare a trial balance as of March 31.
Ute uses the following accounts:
Cash, Supplies, Equipment, Accounts Payable, Deferred Revenue, Notes Payable, Common Stock, Dividends, Service Revenue, Rent Expense, and Utilities Expense.
Answer:
Part 1
March 1
Debit : Cash $1,400
Credit : Common Stock $1,400
March 3
Debit : Equipment $1,100
Credit : Note Payable $1,100
March 5
Debit : Rent Expense $440
Credit : Cash $440
March 7
No Entry
March 12
Debit : Supplies $114
Credit : Accounts Payable $114
March 15
Debit : Cash $640
Credit : Service Revenue $640
March 19
Debit : Cash $540
Credit : Deferred Revenue $540
March 25
Debit : Deferred Revenue $540
Credit : Service Revenue $540
March 30
Debit : Utilities Expense $79
Credit : Cash $79
March 31
Debit : Dividends $70
Credit : Cash $70
Part 2 and Part 3
Cash : Debit = $1,400 + $640 + $540 Credit = $440 + $79 + $70, Balance = 1,991 Debit
Common Stock : Debit = Credit = $1,400 , Balance = 1,400 Credit
Equipment : Debit = $1,100 Credit = , Balance = 1,110 Debit
Note Payable : Debit = Credit = $1,100 , Balance = 1,100 Credit
Rent Expense : Debit = $440 Credit = , Balance = $440 Debit
Supplies : Debit = $114 Credit = , Balance = $144 Debit
Accounts Payable : Debit = Credit = $114 , Balance = $114 Credit
Service Revenue : Debit = Credit = $640 + $540 , Balance = $1,180 Credit
Deferred Revenue : Debit = $540 Credit = $540 , Balance = $ 0
Utilities Expense : Debit = $79 Credit = , Balance = $79 Debit
Dividends : Debit = $70 Credit = , Balance = $70 Debit
Part 4
Sewing Shop
Trial balance as at March 31
Debit Credit
Cash $ 1,991
Common Stock $1,400
Equipment $1,110
Note Payable $1,100
Rent Expense $440
Supplies $144
Accounts Payable $114
Service Revenue $1,180
Deferred Revenue $ 0 $0
Utilities Expense $79
Dividends $70
Totals $3,864 $3,864
Explanation:
To successfully tackle the question, follow the steps :
Record journal entriesPost the Journals to Ledger Accounts Find the Ledger Account BalancesPrepare a Trial BalanceThe Trial Balance is used to check mathematical accuracy. It is a list of Debit and Credit extracted from Balances from the Ledger Accounts.
When crafting a business message with strong reasoning, it is important to back claims with Multiple choice question. broad generalizations. your own beliefs.. supporting facts. colorful diagrams.
Answer:
supporting facts
Explanation:
A business message with strong reasoning has as main objectives to convince a consumer to close a deal or an employee to perform certain tasks for example, the objective is always to support an idea and positively impact and convince the public of something.
Therefore, the most suitable option for a business message with strong reasoning is to use supporting facts, as the recipient of the message will feel much more transparency and security when believing in your message if it is supported by concrete facts that support it, and this can be a strong argument to strengthen and reaffirm your idea so that it is more convincing and supported.
A company deposits all cash receipts on the day they are received and makes all cash payments by check. The company's June bank statement shows $24,861 on deposit in the bank. The comparison of the bank statement to its cash account revealed the following: Deposit in transit 2,750 Outstanding checks 1,188 Additionally, a $35 check written and recorded by the company was incorrectly recorded by the bank as a $53 deduction. The adjusted cash balance per the bank records should be:
Answer: $26441
Explanation:
Balance As per bank statement = $24861
Add: deposit in transit = $2750
Less: Outstanding checks = $1188
Add: Recording error = ($53 - $35) = $18
Adjusted cash balance = $26441