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pav-90 [236]
3 years ago
7

The bookkeeper for Blossom Company asks you to prepare the following accrual adjusting entries at December 31. (If no entry is r

equired, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) (a) Interest on notes payable of $410 is accrued. (b) Services performed but unbilled totals $1,790. (c) Salaries of $750 earned by employees have not been recorded.
Business
1 answer:
Alchen [17]3 years ago
7 0

Answer:

The adjusting entries are given below

Explanation:

Adjusting Entries  

Dec 31 (Accrued Interest)               Debit         Credit

Interest expense                               $410  

Interest payable                                                    $410

Dec 31 (Service Revenue)               Debit         Credit

Account receivable                            $1,790

Service revenue                                                    $1,790

Dec 31 (Salary expense)                Debit         Credit

Salary expense                                $750

Salary payable                                                     $750

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Consumer sentiment suddenly crashes below early-pandemic levels in the US #accelerationism

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3 years ago
Pleasseeeeeee don't get me wrong..
hram777 [196]

Answer:

Equity Capital

Explanation:

Stocks or shares are the smallest units of a company. Shareholders is the title given to the owners of shares who also own the company. Shares of a company can be acquired when the business decides to raise more capital but offering more stocks through the stock market.

Companies sell their stocks to raise capital for expansion. Investors provide the capital required in exchange for ownership in the company. The money raised is equity capital because it comes from the company owners. Debt capital is when a business borrows from banks or other lenders.

6 0
3 years ago
During May, 10,000 packages of chicken sausages were produced, for which 52,000 pounds of meat and 15,000 machine hours were use
Andre45 [30]

Answer:

50,000 pounds of chicken meat

Explanation:

If 10,000 packages of chicken sausages were produced, the estimated amount of chicken meat and machine hours would equal:

  • chicken meat = 10,000 packages times 5 pounds per package = 50,000 pounds of chicken meat
  • machine hours = 10,000 packages times 2 hours per package = 20,000 machine hours

8 0
3 years ago
The following transactions occur for Badger Biking Company during the month of June: Provide services to customers on account fo
Zinaida [17]

Answer:

Accounting equation is stated as follows:

Assets = Liabilities + Stockholder's Equity

Transaction 1

Providing services will increase revenue, which will increase stockholder's equity. And since it is on account it will increase assets by the same amount = $39,000

Transaction 2

Cash received will increase cash in assets and will decrease accounts receivables in assets. Net effect = 0

Transaction 3

Purchase of equipment will increase equipment that is asset by $24,000 and further it is purchased through a note payable, it will increase liability with the same amount.

Transaction 4

This will decrease cash as paid in cash which will decrease assets, and further this will be expense for the period which will decrease the revenue and will decrease the stockholder's equity.

4 0
3 years ago
White Lion Homebuilders is considering investing in a one-year project that requires an initial investment of $475,000. To do so
Dmitriy789 [7]

Answer:

22.81%

Explanation:

The computation of the rate of return is shown below:

= (cash inflow ÷ total cost) - 1

where,

Cash inflow is $595,000

And, the total cost is

= $475,000 + $475,000 × 2%

= $475,000 + $9,500

= $484,500

So, the rate of return is

= ($595,000 ÷ $484,500) - 1

= 22.81%

Hence, the rate of return is 22.81%

Basically we applied the above formulas

4 0
3 years ago
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