Why do businesses use letterheads and logos?

On April 1, Garcia Publishing Company received $32,580 from Otisco, Inc. for 36-month subscriptions to several different magazin

Oksi-84 [34.3K]

Answer: Debit Unearned Fees, $8,145; Credit Fees Earned, $8,145.

Explanation:

The $32,580 are for 36 months so the amount per month would need to be calculated.

= 32,580/36

= $905

The subscriptions were paid on the 1st of April which means that only 9 months (April to December) of the first year will have revenue recognized for them.

= 905 * 9

= $8,145

Correct entry would be to debit the Unearned fees account as it is a liability that needs to reduce to reflect that fees have now been recognized.

Credit the Fees Earned account to recognize revenue.

Debit Unearned Fees, $8,145; Credit Fees Earned, $8,145.

4 0

3 years ago

Following are selected transactions for Vitalo Company. Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly W

umka21 [38]

Answer:

As at April 30

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

Explanation:

Following are selected transactions for Vitalo Company.

Nov. 1 Accepted a $6,000, 180-day, 8% note dated November 1 from Kelly White in granting a time extension on her past-due account receivable.

As at November 1

Account receivable = $6,000 and Note Receivable = $6000

Dec. 31 Adjusted the year-end accounts for the accrued interest earned on the White note.

As at December 31

Dr. Account Receivable (61 days /180 days x 6000 x 0.08) ..$163

Cr. Interest Income......................................................................................$163

Apr. 30 White honored her note when presented for payment; February has 28 days for the current year.

As at April 30

Dr. Account Receivable (120 days / 180 days x 6000 x 0.08) ..$320

Cr. Interest Income......................................................................................$320

Being accrued interest Income for current year to date on note receivable

Dr. Bank..............................................................................................$6,483

Cr. Accounts Receivable ($6000 note receivable + $163 + $320)...$6,483

Being settlement of note receivable with total accrued interest Income

4 0

3 years ago

Read 2 more answers

One of the major shortcomings of organizational charts is that they do not recognize the role of _____ when they depict authorit

Snezhnost [94]

Answer:

b. horizontal communication

Explanation:

The communication is the process of passing the information from the sender to the receiver which involves the encoding, decoding, feedback, etc

The horizontal communication is the communication which communicate with the same level of the management i.e means passing the information within the organization of the same role and responsibilities

so according to the given scenario, the major short coming is of horizontal communication as they do not recognize the role of different level of management or different role and responsibilities

8 0

3 years ago

Training programs which incorporate a variety of delivery modes and techniques tend to be particularly effective because trainee

liq [111]

Answer:

The correct answer is letter "B": learner characteristics.

Explanation:

In psychology, there are three main learner's characteristics considered: personal characteristics (demographic information from the learners such as age, gender, language or social-economic status), academic characteristics (type of education and qualifications), and cognitive characteristics (level of intellectual skills and type of operational memory).

These characteristics must be considered by trainers at the moment of creating their programs since they must include a variety of learning approaches suitable for each type of learner in an attempt to ensure they will understand the information the trainer wants to transmit.

8 0

3 years ago

Technician who is responsible for keeping an airport's control tower's electronic equipment in working order has higher ________

Ronch [10]

The answer to the blank space in the question is task significance. Task significance is the extent to which a person’s job is perceived as important and has impact on both the company and customers.

Jobs with higher task significance would be perceived as important by both the person doing it and other people around him, including his co-workers and customers.

5 0

3 years ago