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nikitadnepr [17]
3 years ago
9

The adjusted trial balance for PI Detectives reported the following account balances: Accounts Receivable $540; Supplies $9,400;

Prepaid Insurance $7,600; Equipment $30,000; Accumulated Depreciation $4,400; Accounts Payable $240; Deferred Revenue $5,400; Notes Payable $3,400; Common Stock $24,000; Retained Earnings $6,100; Dividends $3,400; Service Revenue $35,800; Salaries and Wages Expense $22,000; and Depreciation Expense $1,200. Prepare an adjusted trial balance as of December 31, and solve for its missing Cash balance.
Business
1 answer:
abruzzese [7]3 years ago
4 0

Answer:

                                            PI Detectives

                                            Trial Balance

                                                              Debit                     Credit

Cash                                                       $5,200

Accounts Receivable                            $540

Supplies                                                 $9,400

Prepaid Insurance                                 $7,600

Equipment                                             $30,000

Accumulated Depreciation                                               $4,400

Accounts Payable                                                              $240

Deferred Revenue                                                             $5,400

Notes Payable                                                                   $3,400

Common Stock                                                                  $24,000

Retained Earnings                                                             $6,100

Dividends                                               $3,400

Service Revenue                                                               $35,800

Salaries and Wages Expense               $22,000

Depreciation Expense                         <u>  $1,200 </u>               <u>             </u>

                                                              <u> $79,340</u>             <u>$79,340</u>

Cash Balance is $5,200

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Answer:

The new data set, which involves the mean, median, mode increases or rise up to $2500.

Explanation:

Solution

Given that:

Assume that  M, L, N be the mean, median, mode of the old data set

Now

The number of employees is give as = (25000/2500)

= 10.

Suppose the salaries of 10 employees be Si,

where i = 1,2,3,4,5,6,7,8,9,10.

Then

M =∑^10 i =1 Si /10

Where

L is the number in the middle when the data is ordered from least to greatest

L = Sj,

Where j ∈ (1,2,3,4,5,6,7,8,9,10).

N = Sk j ∈ (1,2,3,4,5,6,7,8,9,10).

Thus

The salaries of 10 employees with bonus is Sj+2500, where j = 1,2,3,4,5,6,7,8,9,10

Now for the new data set we have the following stated below:

Mean = ∑^10 i =1 (Si + 2500)/10

= ∑^10 i= 1 Si/10 + 2500

= M +2500

Median = Sj+2500 = L+2500.

Mode = Sk+2500 = N+2500.

Hence the new data set, which involves the mean, median, mode increases or rise up to $2500.

5 0
3 years ago
Social entrepreneurship is attracting growing amounts of investment, talent, and attention from many sectors. By combining the _
tresset_1 [31]

Answer:

Determination; efficiency; innovation.

Explanation:

Social entrepreneurship is attracting growing amounts of investment, talent, and attention from many sectors. By combining the determination, efficiency, and innovation of business, it offers an entrepreneurial approach to solving social problems at a time when governmental and philanthropic approaches have delivered less than expected.

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Jill is a cash basis attorney. This year, she performed services in connection with the formation of a corporation and received
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Answer:

a) true

Explanation:

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But she continue to hold the stock and record $4,000 of the gross income from the stock

So at the time of income receipt, the realizable value is $4,000

Therefore the given statement is true

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3 years ago
Betsy Parker wants to buy a house in next 10 years and decides to have a SMART goal of having $40,000 as down payment. With the
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Answer:

$24,556.53

Explanation:

We are to find the present value

PV = FV x (1 + r) ^-n

FV = Future value  

PV = Present value  

R = interest rate  

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8 0
3 years ago
Assume MIX Inc. has sales volume of $1,342,000 for two products with May sales and contribution margin ratios as follows:
ololo11 [35]

Answer:

Instructions are below,

Explanation:

Giving the following information:

Product A: Sales $514,000; Contribution Margin Ratio 30%

Product B: Sales $828,000; Contribution Margin Ratio 60%

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First, we need to calculate the total contribution margin:

Total CM= CM Product A + CM Product B

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The operating income is calculated deducting from the total contribution margin the fixed costs:

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The average weighted contribution margin is calculated using the contribution margin ratio per product and the sales mix.

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