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lilavasa [31]
3 years ago
13

18. A company is in its first month of operations. On January 15, the company receives $600 from customers who will receive 10 v

oice lessons ($60 per lesson). As of January 31, the company has provided 8 voice lessons. What adjusting entry would be made at the end of January? Post the adjusting entry for the scenario provided. Record the revenue for 8 voice lessons that the company has provided. The company would receive $600 from customers for 10 voice lessons ($60 per lesson).
Business
1 answer:
Amiraneli [1.4K]3 years ago
3 0

Answer:

The adjusting entry at the end of January:

Debit Unearned revenue: $480

Credit Revenue: $480

Explanation:

When recceived $600 on January 15 from customer, the company must record:

Debit Cash: $600

Credit Unearned revenue: $600

because all lessons are not provided by the company, the company can't recording revenue.

On January 31, the company provided 8 lessons, so the company must recording revenue for these lesson (8x$60=$480) by adjusting entry.

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Answer:

Molly may not recover damages.

Explanation: According to land act molly may not recover damages.

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7 0
3 years ago
You just started your first job today. Besides your 401K, you are planning to save $3,000 a year for 40 years for your retiremen
umka21 [38]

Answer:

The correct answer is 777.169.56.

Explanation:

According to the scenario, the given data are as follows:

Payment per year (PMT) = $3,000

Time (N) = 40 years

Rate of interest (R)= 8%

So, the future value of the following can be calculated by using the following formula:

Future value = PMT × \frac{((1+r)^{n} -1)}{R}

Now, put the value of the following in the formula. then,

= 3,000 × \frac{((1+8/100)^{40} -1)}{8/100}

= 3,000 × 259.0565

= 777,169.56

Hence, the value in the account after 40 years will be 777,169.56.

6 0
3 years ago
According to the aggregate demand curve, when the aggregate price level _____, the quantity of aggregate output _____. rises; de
iren2701 [21]

Answer:

rises; demanded falls

Explanation:

The aggregate demand curve exhibits a negative relationship between aggregate price levels and aggregate output demanded. If aggregate price levels falls, aggregate output demanded rises and if aggregate price levels rises, aggregate output demanded falls.

The aggregate demand curve is negatively sloped.

Please check the attached image for a graph of the aggregate demand curve.

I hope my answer helps you

3 0
3 years ago
Suppose the central bank in the nation of Zook attempts to pay off its national debt by printing large amounts of currency. The
stiks02 [169]

Answer:

it would become worthless

Explanation:

if they keep printing loads of money then the individual Zook dollar would decrease in worth

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2 years ago
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The government will be able to improve the road system, encouraging more people to drive on vacations. Social Security benefits will provide income for the elderly and disabled, allowing them to spend money, thus boosting the economy. Airline security might be slightly improved because of the ability to hire, but there will not be enough money to provide the latest equipment.

3 0
3 years ago
Read 2 more answers
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