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3 years ago

Prepare the journal entries for Mayhem Manufacturing:

1 answer:

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Organization Expenses Dr 7,500
Cash 7,500

June 14 Cash Dr 120,000
Common Stock 110,000
Paid-In Capital in Excess of par value—Common 10,000

June 22 Cash Dr 120,000
Preferred Stock 90,000
Paid-In Capital in Excess of par value—Preferred 30,000

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Horizontal analysis is a technique for evaluating a series of financial statement data over a period of time

coldgirl [10]

Answer:

Option C

Explanation:

In simple words, Horizontal analysis ( also referred to as pattern analysis) is indeed a method for the study of financial records that indicates improvements in the sums of the related products over a span of time. This is a valuable tool for determining pattern circumstances. The reports are being used in horizontal analysis for two different time intervals and is compared on percentage basis.

4 0

2 years ago

Maxim manufactures a hamster food product called Green Health. Maxim currently has 15,500 bags of Green Health on hand. The vari

zaharov [31]

Answer:

b. $13,200.

Explanation:

Revenue from the sale of Green Health bags = Number of bags * Selling price

Revenue from the sale of Green Health bags = 15,500 bags * $10

Revenue from the sale of Green Health bags = $155,000

Revenue from Premium Green = Number of bags * Selling price

Revenue from Premium Green = 15,500 bags * $9

Revenue from Premium Green = $139,500

Revenue from Green Deluxe = Number of bags * Selling price

Revenue from Green Deluxe = 4,100 bags * $7

Revenue from Green Deluxe = $28,700

Incremental revenue = Revenue from Premium Green + Revenue from Green Deluxe - Revenue from Green Health\

Incremental revenue = $139,500 + $28,700 - $155,000

Incremental revenue = $13,200

So, the incremental revenue of processing Green Health further into Premium Green and Green Deluxe would be $13,200.

6 0

2 years ago

The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below.

Arlecino [84]

Answer:

Date Accounts Titles & Explanation Debit Credit

Dec 31 Rent Expense $2,040

($6,120 *2/6)

Prepaid Rent $2,040

Dec 31 Deferred Revenue $525

Service Revenue $525

Dec 31 Salaries Expense $700

Salaries Payable $700

Dec 31 Supplies Expense $2,390

($3,100 - $710)

Supplies $2,390

Demon Deacons Corporation

Adjusted Trial balance

December 31, 2021

Accounts Debit$ Credit$

Cash 9,100

Account receivable 14,100

Prepaid rent 4080

Supplies 710

Deferred revenue 1,575

Salaries payable 700

Common stock 11,000

Retain earnings 5,100

Service revenue 45,245

Salaries expenses 31,200

Rent expenses 2,040

Supplies expenses 2,390

Total $63,620 $63,620

Prepaid rent = 6,120 - 2,040 = 4080

Supplies = 3100 - 2390 = 710

Deferred revenue = 2,100 - 525 = 1575

8 0

3 years ago

If the maker of a note does not pay at maturity, __________.

ira [324]

The maker. Hope this helps. :)

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2 years ago

What is one action an employer can take to lower wage levels?

Nastasia [14]

The right answer for the question that is being asked and shown above is that: "c. Replace some workers with machines." one action an employer can take to lower wage levels is that c. Replace some workers with machines.

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2 years ago