Answer:
Correct answer is letter D, Prepaid insurance $4,200, and Insurance expense $600
Explanation:
Using accrual basis method, revenue and expenses will be recognized when incurred whether paid or not.
The $4,800 is a 24 months policy, therefore we must compute the insurance expense applicable for the year covering from October 1, 2014 to December 31, 2014 (11 months)
An adjusting entry to recognize the expire portion of the insurance must be done at the year end in the amount of $600 while the balance of the prepaid insurance is $4,200.
$4,800 / 24 months = $200 x 3 months = $600 (insurance expense)
$4,800 - $600 = $4,200 (Prepaid insurance)
B
Because the marketing company undertook the payroll service company as a cost cutting measure.
Since dale has admitted that he has used it for his own gas, Dale should henceforth has to options.He has to either see whether that is according to his salary package, If it is a miscellaneous expenses it is rather too high for Dale to use that $450. He should track in fuel cost of Dale report it on a daily basis. He should always at the end of the day check his income and expenses.
Explanation:
- Sue needs to check his income expenses on a daily basis.
- He should confront Dale henceforth not use cash for personal use.
- He should collect the money Dale should show the receipt to Sue.
- He should let sue control the money.
- It has a deficit because, He did not manage to keep the money align.
- Dale used for personal expenses totally against the business loss.
Answer:
Maximum people attending program
Adult = 140
Student = 70
Explanation:
Provided information,
Maximum seating capacity in the theater = 210 people
For each pair of adult there must be at-least one student.
Thus, maximum revenue can be calculated as follows:
Fee for each adult = $10
Fee for each student = $5
For each combination of two adult and one student revenue = $10 + $10 + $5 = $25
Total people in each combination = 3
Thus number of combinations possible =
Thus, number of adults attending program = 70 2 = 140
Number of students = 70 1 = 70
Maximum amount = 140 $10 + 70 $5
= $1,750
Maximum people attending program:
Adult = 140
Student = 70