Answer:
prepaid subscrption ending balance
2009 11,610
2010 6,460
2011 1,290
Explanation:
15,480 / 36 months = 430 per month
December 31th Adjustment:
430 x 9 months (from March 31,2009 to December 31,2009)
received magazinesfor $ 3,870
balance: 15,480 - 3,870 = 11,610
Decmeber 31th 2010
430 x 12 months = 5,160
balance 11,610 - 5,160 = 6,450
2011 adjustment
again for 12 months: 5,160
6,450 - 5,160 = 1,290
Legal.
Harry should have consulted with a small business attorney when creating the contract and agreeing to the terms. Now that there is threat of a lawsuit, Harry should consult an attorney to figure out how to proceed.
This is an example of a company’s: <u>objective</u>.
<u>Explanation</u>:
Objective is an aim to achieve something. Objectives explains what are to be done.
A company's objectives describe the goals that are to be achieved by the organization. The strategies will also be defined to achieve the goal. The resources, material and finance to achieve our goal are also defined to reach the objective. The company defines its objective to increase their success rate.
In the above scenario, Skullcandy decides to launch its new product- a wireless headset. The company decides to increase its market share by releasing the new product. This shows the objectives of the company.
Answer:
$13,739.13
Explanation:
To determine the amount that Jackson borrowed today, we have to find the present value of $16,700
PV = FV (1 + r)^-n
FV = Future value
P = Present value
R = interest rate
N = number of years
$16,700 (1.05)^-4 = $13,739.13
I hope my answer helps you
Answer:
1 Depreciation expeense (Debit) $4,200
Accumulated depreciation (Credit) $4,200
2.Bad Debt expense (Dr.) $6,900
Accounts Receivables (Cr.) $6,900
3. Accrued Interest Expense (Dr.) $1,200
Notes Payable (Cr.) $1,200
4. Accrued Income Tax (Dr.) $14,200
Cash (Cr.) $14,200
5. Cash (Dr.) $4,200
Redemption of Gift Cards (Cr.) $4,200
Explanation:
Depreciation expense is considered as a tax shield. The larger the depreciation expense, the lower will be the taxable income. The adjusting entries are required before trial balance is created. There are few transaction that occur after the initial recording of the transactions. These transaction needs to be adjusted before the financial statements preparation.
