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4 years ago

All of the following are true statements about the relationship of education employment except:

Business

1 answer:

vovangra [49]4 years ago

8 0

A. "there is not a relationship between education and employment", is false

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A 12-month insurance policy was purchased on Dec. 1 for $4,800 and the Prepaid insurance account was initially increased for the

Marianna [84]

Answer:

Credit to Prepaid insurance for $400 and Debit to Insurance expense for $400

Explanation:

The journal entry is given below:

Insurance expense ($4800 × 1 ÷ 12) $400

Prepaid Insurance $400

(To record insurance expense)

Here the insurance expense is debited as it increased the expense and credited the prepaid insurance as it decreased the assets

4 0

3 years ago

Allen, inc., has a total debt ratio of .34. what is its debt-equity ratio

lawyer [7]

Total debt ratio is the ratio of total debt to total assets
i.e
Total debt ratio = Total debt / Total assets
But Total assets is nothing but total equity plus total debt
Now let us consider,
TD = Total debt
TE = Total equity
TA= Total assets
Therefore,
Total debt ratio = TD/TA
But as mentioned above
TA = TD + TE
total debt ratio = Total debt/(total debt+total equity)
total debt ratio = .34(given)
.34 = TD / (TD + TE)
Solving this equation yields:
0.34 = 1/(1+ TE/TD)
0.34(1+TE/TD) = 1
0.34 + 0.34TE/TD =1
.34(TE/TD) = 1 - 0.34
0.34 (TE/TD) = 0.66
0.34TE = 0.66TD
Now, Debt equity ratio is the ratio of Total debt to total equity
Debt-equity ratio = TD / TE
Debt-equity ratio = 0.34 / 0.66
Debt-equity ratio = 0.51515152

6 0

4 years ago

Hellooo, I need friends, also a huggggyyyyy!!!!

klasskru [66]

Answer:

bet :)

Explanation:

4 0

3 years ago

Read 2 more answers

Feb. 2 Wrote a $350 check to establish a petty cash fund. 5 Purchased paper for the copier for $14.55 that is immediately used.

Nataly [62]

Answer:(1) Dr: petty cash $350, Cr: Cash $350, (2) Total delivery expense $16, Total Milleage expense $71, Total postage expense $65.55, Total merchandise inventory( Transportation -in) $42.4, Total office supplies $81.32, Petty Cash Balance $204.67 (3) a) Dr : Expenses $326.29, Cr : Cash $326.39 (b) Dr: petty cash $490, Cr: Cash $490

Explanation:

Journal entry to establish the petty cash fund

Dr : petty cash $350

Cr: : Cash $350

Journal entry to record the reimbursement

Dr : Expenses $326.39

Cr: Cash $326.39

Journal entry to record the increase in fund amount

Dr:petty cash $490

Cr: cash $490

Total delivery expenses $16

Total mileage expenses $71

Total postage expenses $65.55

Total merchandise inventory (Transportation -in) $42.4

Total office supplies $81.32

Amount received for reimbursement $326.39

Petty Cash Balance $204.67

7 0

3 years ago

A physical inventory on December 31 shows 4,000 units on hand. Eneri sells the units for $13 each. The company has an effective

stira [4]

<em>Answer</em>:

Explanation:

Remember, the FIFO inventory costing method records the inventory value based on the cost of the earliest (first) purchased or in hand balance.

The effective tax rate would usually be applied after the sales, however using FIFO we assume the first value of the inventory prior to the tax deduction.

= 4000 x $13

= $52,000

Therefore, the gross profit for the period is $52,000.

4 0

3 years ago

Read 2 more answers