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Fynjy0 [20]
3 years ago
7

The general journal for Wells Tech includes the entry below. Based on the information in this entry, which of the following can

you determine about the corresponding general ledger entries?
The rent expense of $650 was debited to account 500 and the cash paid was credited to account 600.

Which of the following journal entries is appropriate when a company receives payment in advance for goods or services?
Debit cash and credit a liability account or a revenue account.
Business
1 answer:
Andrei [34K]3 years ago
6 0

Answer:

Debit cash and credit a <u>liability</u> account

Q:

<em>Which of the following journal entries is appropriate when a company receives payment in advance for goods or services?</em>

Explanation:

The company will dbeit the cash, as it is receiving it and cash is an asset account that increase from debit.

<em>As the company receives the amount in advance, it assumes the obligation to perform in the future. </em>This is the concept of a liability.

To be a revenue, it is required that the services or sale is performed. As the payment is before the sale or service it is not earned.

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The Bell Weather Co. is a new firm in a rapidly growing industry. The company is planning on increasing its annual dividend by 1
SOVA2 [1]

Answer:

$287.01

Explanation:

The 2 stage dividend discount model would be used to determine the current value of the stock.

first stage

Present value in year 1 = (1.6 x 1.16) / 1.071 = 1.73

Present value in year 2 = (1.6 x 1.16²) / 1.071² = 1.88

Present value in year 3 = (1.6 x 1.16³) / 1.071³ =2.03

Present value in year 4 = (1.6 x 1.16^4) / 1.071^4 = 2.20

second stage

[ (1.6 x 1.16^4) x (1.06) ] / (0.071 - 0.06) = 279.17

Value of the stock = 1.73 + 1.88 + 2.03 + 2.20 + 279.17 = $287.01

4 0
3 years ago
Jamie earned a raise in pay when he finished the training for the Technician 2 position. He will receive another raise when he f
coldgirl [10]

Answer: Structured compensation program

Explanation: In a structured compensation program the company structures the pay of employees on the basis of a predetermined criteria. The abilities needed to get promotion in such structure could be fixed on the basis of time period served or any other such criteria.

In the given case, Jamie gets promotion at every stage by passing a certain test. Thus, we can conclude that the company is performing structured program.

5 0
3 years ago
What is a major advantage of globalization?
Alja [10]

Answer:

A. Businesses are able to sell products to customers around the world.

Explanation:

3 0
3 years ago
Fredrick Paulson Tie Co. manufactures neckties and scarves. Two overhead application bases are used; some overhead is applied on
Rus_ich [418]

Answer:

Unitary cost= $12.30

Explanation:

Giving the following information:

Overhead rate:

Rate 1= 150% of material costs

Rate 2= $7.25 per direct labor hour.

Production:

540 neckties

raw materials= $2,110

Direct labor hours= 69 direct labor hours at a total cost of $865.

First, we need to calculate the total cost:

Total cost= 2,110 + 865 + (1.5*2,110 + 7.25*69)

Total cost= $6,640.25

Unitary cost= 6,640.25/540= $12.30

5 0
3 years ago
Accounts receivable from sales transactions were $45,427 at the beginning of the year and $61,370 at the end of the year. Net in
ZanzabumX [31]

Answer:

The cash flows from operating activities to be reported on the statement of cash flows prepared by the indirect method would be $108,099

Explanation:

Cash Flow from Operating Activities adjusts the Net Income for the Year with (1) Non-Cash Items, (2) Items Appearing Elsewhere (3) Changes in Working Capital.

From the given data Net Cash flow from Operating Activities is Determined as follows:

<u>Cash flow from Operating Activities</u>

Net income                                                              $124,042

<em>Adjustment for Changes in Working Capital.</em>

Increase In Trade Receivables (61,370-45,427)    ($15,943)

Net Cash flow from Operating Activities              $108,099

6 0
4 years ago
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