Answer:
Explanation:
The adjusting entries are shown below:
a. Unearned Fees A/c Dr $82,760
To Fees Earned A/c $82,760
(Being unearned fees are adjusted)
For recording the transactions we debited the unearned fees account and credited the fees earned account
b. Accounts Receivable A/c Dr $32,640
To Fees Earned A/c $32,640
(Being accrued fees recorded)
As the earned fees do not bill so we debited the account receivable account and credited the fees earned account
Answer:
True
Explanation:
A person has comparative advantage in production if he produces at a lower opportunity cost when compared with other people.
A person has absolute advantage in the production of a good or service If he produces more quantity of the good when compared with other people
To calculate comparative advantage, first find the opportunity cost:
Opportunity cost of timmy editing = 80/2=40 words
Opportunity cost of timmy typing = 2 / 80 = 0.025
Opportunity cost of oliva editing = 100/1= 100
Opportunity cost of oliva typing = 1/100=0.01
Olivia has a comparative advantage in typing while timmy has a comparative advantage in editing.
Olivia types more words than timmy, therefore she has an absolute advantage in typing.
Timmy edits more pages than oliva, Therefore, he has am absolute advantage in editing.
I hope my answer helps you
Answer:
a. Division's margin = Net operating income / Total sales
Division's margin = $4,069,146 / $32,948,550
Division's margin = 0.1235000
Division's margin = 12.35%
b. Division's turnover = Total sales / Average operating assets
Division's turnover = $32,948,550 / $9,027,000
Division's turnover = 3.65 times
c. Division's return on investment = Division margin * Division turnover
Division's return on investment = 12.35% * 3.65 times
Division's return on investment = 45.08%
Answer:
Date Account Title Debit Credit
Dec. 31, 2019 Lease Receivable $97,001
Cost of Goods sold $67,000
Sales Revenue $97,001
Inventory $67,000
Date Account Title Debit Credit
Dec. 31, 2019 Cash $22,879
Lease Receivable $22,879
Answer:
$2,375,000
Explanation:
Retained Earning is the accumulated balance of all the prior year's income / losses after paying all the dividend. This balance can be used for the dividend payment or reinvestment in the business.
Balance of Retained Earning = $500,000
Dividend Payment = 25% x $500,000 = $125,000
Additions to Retained Earning = $500,000 - $125,000 = $375,000
New balance of Retained Earning = $2,000,000 + $375,000 = $2,375,000
