Answer:
Adjusting journal entries
a) 1 . Debit Depreciation $10500 Credit Accumulated depreciation $10500.
2 . Debit interest expense $40 , Credit Bank $40
3 . Debit Admission revenue $ 60000, Credit Unearned admission revenue $60000
4. Debit Prepaid expense $1100 , Credit Advertising expense $1100
5. Debit salary $4700, Credit Salary payable ( accrued salary) $4700
Explanation:
Depreciation = (cost - salvage value)/ useful life
it is said that the equipment has a useful life of 16 years at that date (31 Dec) and depreciation needs to be adjusted for the year. Even even that $192000 is Carrying amount it is not depreciable amount we still need to subtract the salvage value hence (192000- 24000)/16 = $10500 Depreciation
interest expense = 90000*8%*72/360 = $1440
The 72 days numerator is arrived at by adding the remaining 11 days in Oct plus full 30 days Nov plus full 31 days Dec. $1400 of interest has already been recorded so in adjusting to the total of $1440 we need to record $40 of interest.
december coupon = 2000*$30 =$60000
if the coupon admission book revenue for december is not included in the trial balance then its journal entry is debit bank $60000 credit unearned revenue $60000
Answer:
A. A command economy depends largely on the government, whereas a mixed economy involves individuals and businesses, too.
Explanation:
A command economy is a system in which the government is the one that decides the goods that can be produced and establishes the prices of them and the mixed economy is a system that involves the goverment which has some control but also, the private sector. This means that the production and the prices depend on the supply and demand.
Answer:
D. Tasha: "If coffee drinkers expect the price of coffee to rise next month, then current demand will go up and lead to a price increase this month."
This is the only one with incorrect economic analysis
Explanation:
A. is correct because a shortage of supply would drop the price as we can see in the Graph 1 with the supply curve.
B. is correct because if the two goods are substitues then a lower price for caffeinated soft drinks like Mountain Dew would cause the consumer demand for coffe to go down because the consumers would prefer the good with lower price, rising the demand for Mountain dow in detriment of coffe.
C. is correct as we can see in the Graph 1, the increse in the demand would generate a higher price but it would make the demand go back to D1
D. is incorrect because if coffee drinkers consume more coffee this monht the price would lower.
Explanation:
When you want to show your presentation through a projector and want the presentation to be displayed on your laptop at the same time, you will simply attach the laptop with the projector using the wire. Then you will start the Slideshow from the menu at the top panel of the powerpoint. Now to display the presentation on the projector and on your laptop simultaneously, you will just need to press the function key along with the F8 key, which is Fn+F8. This will allow the presentation to be displayed on the screen of your laptop as well.
Answer:
$16.9 per widget
Explanation:
Given that,
Beginning inventory = $2,500
Purchases = $156,000
Ending inventory = $38,200
Sales Revenue = $783,000
Selling and Administrative Expenses = $5,400
Total cost of the 7,100 widgets:
= Beginning inventory + Purchases - Ending inventory
= $2,500 + $156,000 - $38,200
= $120,300
Therefore,
Cost of one widget = Total cost of the 7,100 widgets ÷ Number of widgets
= $120,300 ÷ 7,100
= $16.9 per widget
