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
stiks02 [169]
3 years ago
13

The bookkeeper for Sunland Company asks you to prepare the following accrual adjusting entries at December 31. (If no entry is r

equired, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
(a) Interest on notes payable of $370 is accrued.
(b) Services performed but unbilled totals $1,830
(c) Salaries of $900 earned by employees have not been recorded
No. Date Account Titles and Explanation Debit Credit
(a) Dec. 31
(b) Dec. 31
(c) Dec. 31
Business
1 answer:
jeka943 years ago
4 0

Answer:

(a) Dec 31:

Dr Interest Expense 370

Cr Interest Payable 370

(b) Dec 31:

Dr Account Receivable 1,830

Cr Service Revenue 1,830

(c) Dec 31:

Dr Salaries & wages expense 900

Cr Salaries & wages payable 900

Explanation:

Preparation of Journal entries

(a) Based on the information given we were told that Interest on notes payable of the amount of $370 was accrued which means that the Journal entry will be:

Dec 31

Dr Interest Expense 370

Cr Interest Payable 370

(To record accrued interest on note payable)

(b) Based on the information given we were told that Services was performed but unbilled totals of the amount of $1,830 which means that the Journal entry will be :

Dec 31

Dr Account Receivable 1,830

Cr Service Revenue 1,830

(To record unbilled service revenue)

(c) Based on the information given we were told that Salaries of the amount of $900 earned by employees have not been recorded which means that the Journal entry will be :

Dec 31

Dr Salaries & wages expense 900

Cr Salaries & wages payable 900

(To record salaries earned but not recorded)

You might be interested in
The American Baker’s Association reports that annual sales of bakery goods last year rose 15 percent, driven by a 50 percent inc
Snowcat [4.5K]

Answer:

Optimal package size = 4 units

Optimal package price = $20

Explanation:

P = 8 - 1.5Q and C(Q) = 2.0Q, MC = 2

To obtain optimal package size, we put

Price is equal to the marginal cost, P = MC

8 - 1.5Q = 2

     1.5Q = 6

          Q = 6 ÷ 1.5

              = 4

Therefore,

Optimal package size = 4 units

Hence,

Optimal package price:

= 0.5[8 - 2] × 4 + 2 × 4

= 12 + 8

= $20

3 0
3 years ago
After a kick-off session and six contentious weekly team meetings, Lola is struggling to align her team around common expectatio
Amiraneli [1.4K]

Answer:

storming

Explanation:

Based on Bruce Tuckman’s theory of team development it seems that Lola's team is currently in the storming phase of the evolution process. This is the second phase in the process, in which individuals are still showing hostility towards one another and have not have not fully assigned or understand each persons role in the team. This leads to resisting control from any authority within the group, and prevents team goals from being achieved.

7 0
3 years ago
Procter & Gamble brands are advertised in more than 180 countries, with different ad themes in scores of different languages
lubasha [3.4K]

Answer:

The correct answer is D. foreign media.

Explanation:

The international press is made up of a series of chains that cover basic aspects of the news. It is said that its usefulness in the massification of information is necessary, since they cover current news from different angles and allow people to enjoy high quality content and coverage.

3 0
3 years ago
Which of following is a TRUE statement about inventory within a continuous review system?
garri49 [273]

Answer:

c. When ordering or setup costs increase, Economic Order Quantity increases

Explanation:

In inventory there are two types of review systems used to replenish stock, the periodic inventory and continuous inventory.

Continuous inventory involves ordering the same quantity of a good in each order. However the rate at which goods are replenished varies based on monitoring of level of goods. Orders are made when inventory gets to a certain level.

In this instance when there is an increase in ordering or setup there needs to be allocation of a higher amount for orders. The additional cost is added to the economic order quantity

5 0
3 years ago
For each separate situation, indicate whether Cruz Company should (a) record a liability, (b) disclose in
ratelena [41]

Answer:

Cruz Company

Indicating whether to (a) record a liability, (b) disclose in notes, or (c) have no disclosure.

Transaction                                                        Remark

1.  Guarantee of supplier's debt                  (c) have no disclosure

2. Damages for disgruntled employee      (b) disclose in notes

Explanation:

When it is not probable that the supplier whose debt is guaranteed by Cruz will default on the debt, there is no need to make a disclosure since probable liability is not accruing to Cruz.  But with the legal case of a disgruntled employee, Cruz should disclose the information in a note.  It can only be recorded as a liability when the amount of the damages can be reasonably estimated.

8 0
2 years ago
Other questions:
  • 9. Assume that Cane expects to produce and sell 97,000 Alphas during the current year. A supplier has offered to manufacture and
    10·1 answer
  • Ava and her husband, Leo, file a joint return and are in the 24% Federal income tax bracket. Ava’s salary is $75,000. Her employ
    12·1 answer
  • The human relations movement initially espoused a dairy farm view of management, meaning that contented cows give more milk, and
    9·1 answer
  • How would the number of firms competing in a particular market affect the likelihood that an exporter to that market would be ac
    5·1 answer
  • During Year 1, Fox Co. introduced a new product carrying a two-year warranty against defects. The estimated warranty costs relat
    6·1 answer
  • Equity securities in which the investor owns less than​ 20% ownership in the voting stock of the investee generally can be class
    15·1 answer
  • Recent research that analyzed the content of commercial bottled water indicates that ________. bottled water consumes less fossi
    13·1 answer
  • Akika Corporation started as a small firm and has grown substantially in the past decade. Its interests span from electronics to
    11·1 answer
  • If the cost of steel increases, then the supply of cars will shift and this shift would cause a shortage of cars to open up at t
    14·1 answer
  • Which of the four main methods of international entry did Assan Motors employ to expand into the U.S.
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!