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3 years ago

The following is a partial unadjusted Trial Balance.

Business

1 answer:

PilotLPTM [1.2K]3 years ago

5 0

Answer:

Supplies Expense 12500

Explanation:

Bravo Unlimited

Adjustment Entry

Date Particulars Debit Credit

February 29 Supplies Expense 12500

Supplies Account 12500

( Opening bal+ purchases- Ending bal= Expense= 2000+ 12000- 1500= 12500

At the month end Supplies were used for $ 12500 and supplies on hand are $ 1500.

On 2nd Feb the supplies account totalled $ 14000 but $5000 supplies had been expensed so the total amount of supplies used up is calculated by (Opening bal+ purchases- Ending bal= Expense) the formula given above.

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Following is an extract of account balances of Wilson Mowing Services as of December 31 of the first year of operation. Accounts

Nataly [62]

Answer:

$32,300

Explanation:

With regards to the above, the amount of total assets is the addition of current assets + Fixed assets.

= Accounts receivables + Cash + Truck equipment

= $7,000 + $7,300+ $8,000 + $10,000

= $32,300

Therefore ,

Total assets = $32,300

8 0

3 years ago

Kingbird Company has the following stockholders’ equity accounts at December 31, 2017.Common Stock ($100 par value, authorized 8

viktelen [127]

Answer:

Journal Entries :

Common Stocks $29,400 (debit)

Cash $29,400 (credit)

Dividends Declared $174,300 (debit)

Shareholders for Dividends $174,300 (credit)

Shareholders for Dividends $174,300 (debit)

Cash $174,300 (credit)

Cash $30,600 (debit)

Common Stocks $30,600 (credit)

Common Stocks $48,300 (debit)

Cash $48,300 (credit)

Cash $29,100 (debit)

Common Stocks $29,100 (credit)

Explanation:

Common Stocks $29,400 (debit)

Cash $29,400 (credit)

Purchase Cost = 300 shares × $98 = $29,400

Dividends Declared $174,300 (debit)

Shareholders for Dividends $174,300 (credit)

Dividend Calculation = (8600 - 300) × $21 = $174,300

Note : Recognize the Liability : Shareholders for Dividends and recognise the Equity Element : Dividends Declared

Shareholders for Dividends $174,300 (debit)

Cash $174,300 (credit)

Note : De-recognize the Liability : Shareholders for Dividends and De -recognize the Assets of Cash.

Cash $30,600 (debit)

Common Stocks $30,600 (credit)

Proceeds = 300 shares × $102 = $30,600

Common Stocks $48,300 (debit)

Cash $48,300 (credit)

Purchase Cost = 460 shares × $105 = $48,300

Cash $29,100 (debit)

Common Stocks $29,100 (credit)

Proceeds = 300 shares × $97 = $29,100

5 0

3 years ago

On January 1, 2021, Ackerman sold equipment to Brannigan (a wholly owned subsidiary) for $200,000 in cash. The equipment had ori

just olya [345]

Answer: $‭322,000‬

Explanation:

Consolidated income = Net income from Ackerman + Net Income from Brannigan + Excess depreciation - Amortization of unpatented tech - Gain from transfer of equipment

Excess depreciation = New depreciation of equipment - Old depreciation

Depreciation is straight line;

= (200,000/5 years) - (110,000/5)

= $18,000

Gain from transfer of equipment

= Sales - Book value

= 200,000 - 110,000

= $90,000

Consolidated income = 300,000 + 98,000 + 18,000 - 4,000 - 90,000

= $‭322,000‬

5 0

3 years ago

6. Please list and describe your current involvement in the community. Do you volunteer for any local agencies, participate in a

Gwar [14]

there are 5 ways to participate in your community

1 volunteer your time

2 donate your resources

3 shop locally

4 join a class or group

5 support your local sports teams

6 organise your own event

Hope it is helpful

7 0

2 years ago

Trey Tires is going to merge with Big Spokes, and the merger will result in layoffs. As a result, the workers are not happy. The

zaharov [31]

Answer:

The correct answer is: soldiering.

Explanation:

American economist Frederick Winslow Taylor (1856-1915) in his book "The principles of Scientific Management" (1911) described the term soldiering to refer as the act by which individuals decrease the efficiency of their duties at work in purpose because of different adverse situations arose such as few wages incentives or the belief that by increasing productivity the less productive workers could be affected through lay-offs.

8 0

3 years ago