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ch4aika [34]
3 years ago
13

A law firm received $1600 cash for legal services to be rendered in the future. The full amount was credited to the liability ac

count Unearned Service Revenue. If the legal services have been rendered at the end of the accounting period and no adjusting entry is made, this would cause:
Business
1 answer:
Viefleur [7K]3 years ago
4 0

Answer and Explanation:

In the first situation, the journal entry is

Cash Dr $1,600

      To Unearned revenue $1,600

(Being the unearned revenue is recorded)

For this we debited the cash as it increased the assets and credited the unearned revenue as it also increased the liabilities

The adjusting entry is

Unearned Service Revenue XXXXX

          To Service Revenue XXXXX

(Being the adjusting entry is recorded)

If this entry is not recorded than it would leads to understated of revenue and overstated of liabilities

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MTB Industries currently pays an annual dividend of $1.50 per share, and it is expected that these dividend payments will contin
Sergio [31]

Answer:

The value of MTB stock is closest to $12.50

Explanation:

The value of MTB stock is calculated using the below formula for the present of an annuity in perpetuity=dividend/expected rate of return

The expected rate of return in this instance is the equity cost of capital

Value of MTB stock=$1.50/12%

Value of MTB stock=$12.5

A rational investor a price for a stock today that reflects the future cash flows payable by a way of dividends payments promised by such stock considering the investor's rate of return as done above

8 0
3 years ago
If firms are producing at a profit-maximizing level of output where the price is less than the average total cost:_________
Travka [436]

If firms are producing at a profit-maximizing level of output where the price is less than the average total cost <u>economic</u><u> profits must be zero</u>.

Profit-maximizing is the process of determining the most effective way to maximize earnings, either in the short or long term. It primarily focuses on identifying the price and output level that generates the greatest profit. It is a crucial premise that supported the development of numerous economic theories, including the pricing and production theories.

Profit maximizing is the sole goal of organizations, and conventional theories are built around this idea. It is also viewed as the organization's most rational and fruitful business goal. It aids in determining corporate organization behavior and the impact of various economic conditions.

To know more about profit-maximizing

brainly.com/question/3521517

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5 0
1 year ago
Field Industries' outstanding bonds have a 25-year maturity and $1,000 par value. Their nominal yield to maturity is 9.25%, they
skad [1K]

Answer:

The correct option is B,7.70%

Explanation:

Annual coupon interest rate=coupon payment/face value

the coupon payment is the semi-annual interest payment*2

the semi-annual interest payment can be computed using the pmt formula in excel:

=pmt(rate,nper,-pv,fv)

rate is the semi-annual yield to maturity which is 9.25%/2=4.625%

nper is the number of semi-annual interest payable by the bond which is 25*2=50

pv is the current price of the bond which is $850

fv is the face value of the bond at $1000

=pmt(4.625%,50,-850,1000)

pmt=$38.50

annual interest =$38.50*2=$77.00

Annual coupon interest=$77/$1000=7.7%

5 0
3 years ago
What happens if you pay more than the minimum balance on your credit card each month?
Eddi Din [679]
You'll owe less in total interest charges in the future
6 0
3 years ago
Read 2 more answers
_____ is the practice of using team selling to focus on the firm's most important customers so as to build mutually beneficial,
jekas [21]

Key account management is the practice of using team selling to focus on the firm's most important customers so as to build mutually beneficial, long-term relationships.

  • Getting a prospect's commitment to buy during the closing stage of the selling process.
  • Because the salesperson must ascertain when the prospect is prepared to buy, this stage is both the most crucial and the most challenging.
  • accurate, complete, and step-by-step information is provided.
  • Setting goals, structuring the sales force, hiring, choosing, training, and rewarding salespeople, as well as assessing each salesperson's performance, are all duties involved in managing personal selling.

<h3>What is team selling approach?</h3>
  • Account-based selling frequently employs the sales technique of team selling to increase transaction closing rates.
  • Team selling, in its simplest form, is a collaborative sales method where two or more team members work together to earn business rather than working those accounts alone.

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3 0
2 years ago
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