1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Bogdan [553]
3 years ago
7

Prepare an adjusted trial balance as of December 31. (Enter your answers in thousands of dollars.) MINT CLEANING INC. Adjusted T

rial Balance At December 31 (in thousands of dollars) Account Titles Debit Credit Cash $58 Accounts Receivable 7 Prepaid Insurance Equipment 120 Accumulated Depreciation 8 Accounts Payable 7 Common Stock 116 Retained Earnings 17 Sales Revenue 131 Insurance Expense 9 Salaries and Wages Expense Supplies Expense 46 Depreciation Expense Salaries and Wages Payable $11 Income Tax Expense Income Tax Payable 13 Totals $240 $303
Business
1 answer:
DochEvi [55]3 years ago
5 0

Answer:

Hie, the question has missing amounts / account balances relating to the following Accounts<em> Prepaid Insurance</em>, <em>Salaries and Wages Expense</em> and <em>Depreciation Expense</em>. However, both the debits and credit totals must add up to $292 as only debits are missing.

Explained and illustrated below is the approach to take on this question.

A trial balance is a list of balances (debit or credit) extracted from ledger accounts.

<u>Adjusted Trial Balance At December 31</u>

                                                    Debits                 Credit

                                                     $000                   $000

Cash                                                  58

Accounts Receivable                         7

Prepaid Insurance (missing)

Equipment                                      120

Accumulated Depreciation                                           8

Accounts Payable                                                          7

Common Stock                                                            116

Retained Earnings                                                        17

Sales Revenue                                                             131

Insurance Expense                           9

Salaries and Wages Expense (missing)

Supplies Expense                           46

Depreciation Expense (missing)

Salaries and Wages Payable           11

Income Tax Expense

Income Tax Payable                                                     13

Totals                                              292                       292

You might be interested in
If the price of good A​ falls, then when the consumer makes his new​ utility-maximizing choice​ _______. A. the quantity of the
skad [1K]

Answer: Option (B) is correct.

Explanation:

Correct option: The marginal utility from consuming good A will be lower than before.

This due to the law of diminishing marginal utility. When the price of good A falls as result consumer will buy more quantity of good A. But according to the  law of diminishing marginal utility, as the consumers consumes more and more quantity of good, the utility derived from an additional unit goes on diminishing.

Therefore, the marginal utility from consuming good A will be lower than before.

4 0
3 years ago
How much would you have to deposit today if you wanted to have $54,000 in five years? Annual interest rate is 8%. (PV of $1. FV
mestny [16]

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

A) How much would you have to deposit today if you wanted to have $54,000 in five years? The annual interest rate is 8%.

We need to use the following formula:

PV= FV/(1+i)^n

PV= 54,000/(1.08^5)= $36,751.49

B) Assume that you are saving up for a trip around the world when you graduate in two years. If you can earn 7% on your investments, how much would you have to deposit today to have $14,500 when you graduate?

PV= 14,500/1.07^2= $12,664.86

C) Calculate the future value of an investment of $643 for eleven years earning an interest of 8%.

FV= PV*(1+i)^n

FV= 643*1.08^11= $1,499.24

D) Would you rather have $643 now or $1,000 eleven years from now?

It depends on the interest rate. We will assume 8%.

PV= 1000/1.08^11= 428.88

It is better to have $643 today.

5 0
3 years ago
(PLEASE HELP!)
strojnjashka [21]

Answer:

It is C.

Explanation:

When food is delivered to the table, the server does not have to ask the guests to identify who ordered what because they eat whatever is being ordered by people at their table. Hope this helps :)

8 0
3 years ago
Read 2 more answers
What is capital market?
goblinko [34]
It's a financial market where people can buy or sell long-term debt or equity-backed securities

The example of capital markets are : New York stock Exchange, American stock exchange, London stock exchange, NASDAQ, Etc

5 0
3 years ago
you have to wait until it says i posted it 1 minute ago if answer before u will be elminated 2 more to go
Blizzard [7]

Answer:

GG

Explanation:

GG

7 0
3 years ago
Read 2 more answers
Other questions:
  • What are some specific liquids that have less than 80 percent water?
    10·1 answer
  • Determining if products made in-house will be produced in one or more facilities, and if these facilities should be located in o
    8·1 answer
  • Marie is a small-business owner who loves to take risks. She also enjoys going out and meeting customers and potential clients—t
    6·1 answer
  • A local finance company quotes a 17 percent interest rate on one-year loans. So, if you borrow $20,000, the interest for the yea
    9·1 answer
  • Which of the following accounts allows full access to the system, while accessing other systems on the network? Local Admin acco
    14·1 answer
  • The demand curve shows an inverse ,or negative , relationship between
    9·1 answer
  • Problem 9-1 Comparing Renting and Buying [LO9-2] Rental Costs Buying Costs Annual rent $ 7,380 Annual mortgage payments $ 9,800
    13·1 answer
  • Last year Rennie Industries had sales of $395,000, assets of $175,000 (which equals total invested capital), a profit margin of
    11·1 answer
  • Within Year, Inc. has bonds outstanding with a $1,000 par value and a maturity of 19 years. The bonds have an annual coupon rate
    6·1 answer
  • Importance of hotel managers in points​
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!