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3 years ago

The company's adjusted trial balance as follows includes the following accounts balances:

Business

1 answer:

Zina [86]3 years ago

7 0

Answer:

Expense & revenue summary a/c (credit balance) = $3500

Explanation:

1. Dr Expense & revenue summary 52500

Cr Sales discount 1500

Cr Sales return & allowance 3000

Cr Depreciation expense 25000

Cr Salaries expense 23000

(Close expenses to expense & revenue summary a/c)

2. Dr Sales 56000

Cr Expense & revenue summary 56000

(Close sales to expense & revenue summary a/c)

3. Dr Expense & revenue summary a/c 3500

Cr Retained earning a/c 3500

(To close expense & revenue summary a/c)

4. Dr Retained earning 2000

Cr Expense & revenue summary 2000

(Close dividend to expense & revenue summary a/c)d

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Which loan type requires you to make loan payments while you’re attending school?

allsm [11]

Student Loans is the correct answer

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3 years ago

Espresso Express operates a number of espresso coffee stands in busy suburban malls. The fixed weekly expense of a coffee stand

defon

Answer:

Explanation:

Fixed costs - will remain similar no matter of output amount

Variable costs - vary with the change in output

Average cost=(Fixed cost(FC) + Variable cost(VC))/number of units produced

VC = VC per cup of coffee served *cup of coffee served in a week

Total Cost(TC)= FC+VC

Average cost=TC/Cup of coffee served in a week

1. Let's calculate for 2000 cups of coffee:

FC remain the same! = $1200

VC=0.22*2000= $440

TC=FC+VC= 1200+440= $1640

Average cost of 1 cup of coffee= TC/#of cups=1640/2000=$0.82

2. Calculation for 2100 cups:

FC=1200

VC=0.22*2100=462

TC=1200+462=1662

Av cost=1662/2100=0.79

3. Calculation for 2200 cups:

FC=1200

VC=0.22*2200=484

TC=1200+484=1684

Av cost=1684/2200=0.77

As the number of cups increased from 2000 to 2100, the average cost per cup devreased 0.82 to 0.79. Then when number of cups increased to 2200, average cost decreased to 0.77. The reduction is due to the variable cost

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3 years ago

There is a huge inflow of refugees from the wars in the Middle East to parts of Europe and Scandinavia. What kind of anthropolog

nydimaria [60]

Answer:

Cultural anthropology

Explanation:

Because Cultural anthropology would try to convince the politician to resettle the refugees in other parts of the country because they want diversity of human beings in space and time and this is the main concept cultural anthropology is based on. They study the human cultures with aim to study range of cultural differences to change to human ecology and movement towards the introduction of best ideologies in country.

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4 years ago

PLEASE HELP ASAP

geniusboy [140]

Answer:

I'm guessing the answer would be D

I don't actually know though and if it's wrong I'm sorry

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3 years ago

Read 2 more answers

IBM sold a mainframe computer to its customer for 60 monthly payments of $92,082.61, which totals $5,524,956.60. IBM also agreed

Gnoma [55]

Answer number 1:

The contractor is required to provide the following products and services to the client according to the deal:

1. The mainframe computer cost will be $5,524,956.6

2. Installation charges will be provided by supplier at no cost.

3. Training will be provided by company for free of cost.

Earnings can be acknowledged on the statement of financial position when they are generated and received, according to the accrual basis of accounting.

Receiving the actual money is not required. The term "realizable" indicates that the customer has got the products or services, but that reimbursement is expected afterwards.

The firm's income is based on the items or services that have been supplied.

Because the mainframe computer system product was delivered on July 1, the vendor can record revenue for the device on July 1. So, There really is no profit based on accounts of products such as implementation and training because they are to be given for free.

Answer number 2:

According to the given agreement, the buyer must pay a balance of $5,524,956.60 during 60 months, considering a 4% per year rate.

Computation:

Valuation

[Year 5 = Year 4 / (1+R)]

So,

Year 5 = $55,24,956.6

Year 4 = $53,12,458.27

Year 3 = $51,08,132.95

Year 2 = $49,11,666.3

Year 1 = $47,22,756.06

Total = $45,41,111.59

So,

Current value of the given agreement = $45,41,111.59

The vendor is entitled to $4,541,111.59 in revenue.

Answer number 3:

Interest income or revenue will IBM recognize in its December 31 regular income = The mainframe computer cost - Current value of the given agreement

⇒ Interest income or revenue will IBM recognize = $55,24,956.6 - $45,41,111.59

⇒ Interest income or revenue will IBM = 9,83,845.01

⇒ Monthly income = [9,83,845.01 / 60]

Monthly income = $16.397.42

Interest income or revenue will IBM recognize in its December 31 regular income = Monthly income x 6

⇒ Interest income or revenue will IBM recognize in its December 31 regular income = $16.397.42 x 6

Interest income or revenue will IBM recognize in its December 31 regular income = $98,384.50

Learn more:

brainly.com/question/11866764?referrer=searchResults

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3 years ago