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
Aleks [24]
3 years ago
6

Supplies on hand at October 31 total $500. Expired insurance for the month is $100. Depreciation for the month is $50. Services

related to unearned service revenue in October worth $600 were performed. Services performed but not recorded at October 31 are $300. Interest accrued at October 31 is $95. Accrued salaries at October 31 are $1, 625. Instructions Prepare the adjusting entries for the items above.
Business
1 answer:
SCORPION-xisa [38]3 years ago
6 0

Answer:

Supplies on hand at October 31 total $500

Inventory $ 500 (debit)

Income Statement - cost of sales $500 (debit)

Expired insurance for the month is $100

Insurance $ 100 (debit)

Account Payable - Insurance Provider $100(credit)

Depreciation for the month is $50

Depreciation $50 (debit)

Accumulated Depreciation / Asset $50 (credit)

Services related to unearned service revenue in October worth $600 were performed

Trade Receivable $ 600 (debit)

Revenue $ 600 (credit)

Interest accrued at October 31 is $95

Interest expense $95 (debit)

Interest Accrued $95 (credit)

Accrued salaries at October 31 are $1, 625

Salaries and Wages $ 1625

Salaries and Wages Accrued $ 1625

Explanation:

Supplies on hand at October 31 total $500

Recognise an Asset - Inventory and de-recognise an expense - cost of sales in Income statement

Expired insurance for the month is $100

Recognise an expense - Insurance and recognise a liablility - Trade Payable (Insurance Provider)

Depreciation for the month is $50

Recognise an expense - depreciation and de-recognise an asset through the accumulated depreciation account

Services related to unearned service revenue in October worth $600 were performed

Recognise an Asset- Trade Receivable and recognise revenue

Interest accrued at October 31 is $95

Recognise an expense - Interest and a liability - Interest accrued

Accrued salaries at October 31 are $1, 625

Recognise an expense - Salaries and Wages and de-recignise a liability - Salaries and Wages accrued.

You might be interested in
Which activity is an example of differentiated marketing? A. An automobile company promotes small family cars and sports utility
bogdanovich [222]

Answer: A. An automobile company promotes small family cars and sports utility vehicles to a specific demographic.

Explanation:

Differentiated marketing is a form of marketing that occurs when the advertisement that is done by a particular company appeals to some particular target audiences or segments. Thus is usually done by the company to get ire customers and also enhance the brand awareness.

In this case, the activity that is an example of differentiated marketing will be option A. "An automobile company promotes small family cars and sports utility vehicles to a specific demographic".

7 0
2 years ago
Consider the following data, which shows the quantities and prices of two goods produced in the economy, to answer the following
maw [93]

Answer:

$250 million

Explanation:

Given that,

Cell phones:

Quantity produced = 5 million

Price per cell phone = $100

Pizza:

Quantity produced = 25 million

Price per pizza = $10

The market value of pizza is determined by the product of quantity produced and price of each pizza.

Market value of pizza:

= Quantity produced × Price per pizza

= 25 million × $10

= $250 million

8 0
3 years ago
At the end of the accounting period, houston company had $12,000 of par value common stock issued, additional paid-in capital in
amid [387]

The amount of stockholder's equity is calculated as -

Total stockholder's equity = Common stock issued + Additional paid in capital + Retained earnings - Treasury capital

Total stockholder's equity = $ 12,000 + 11,000 + $ 12,000 - $ 4,000

Total stockholder's equity = $ 31,000

8 0
3 years ago
Apple has been known to sell its products at higher rates than competitors, such as Microsoft, as it has been successful at conv
guapka [62]

Answer:

b. market power. 

Explanation:

A firm has market power when it is able to charge prices for its goods and services far above its marginal cost of production and higher than the average price charged in the market for similar goods and services.

Apple is able to charge higher price when compared with Microsoft.

Corporate level core competitencies is when a firm has unique abilities that gives it an edge over other competitors and enhances the long term success of the firm.

Multipoint competition is when a firm is competiting at the same time across many industries with the same competitors.

Brand awareness is how well a product is familiar to consumers .

3 0
3 years ago
Alyssa has set up a personal budget with total monthly expenditures of $ 3250. If 20 percent sign of her income is taken out of
sveta [45]

The minimum amount that Alyssa must <em>earn per month</em> to cover her budget is $4,062.50.

Data and Calculations:

Monthly expenditures = $3,250

Taxes and other deductions = 20% of monthly income

Monthly expenditures in percentage = 80% (1 - 20%)

Minimum income per month = $4,062.50 ($3,250/80%)

Thus, the minimum amount that Alyssa must <em>earn per month</em> to cover her budget is $4,062.50.

Learn more: brainly.com/question/25571450

6 0
2 years ago
Other questions:
  • Progressive companies who want to attract and keep good employees are now offering their employees ________ benefits, such as on
    8·1 answer
  • Lawrence has worked in his career field for 20 years. one benefit of his experience over younger employees lies in
    12·1 answer
  • The following table shows data for nominal GDP and the GDP deflator (2010 = 100) in 2013 and 2014 for six major industrial count
    15·1 answer
  • Production possibilities are the a. Alternative combinations of output that can be produced using all available resources and te
    10·1 answer
  • Sam, the owner of a toy store, dies unexpectedly at the age of 56. His lifelong business associate, Paul, is appointed the admin
    5·1 answer
  • Sending employees on international assignments is an example of the _________approach to employee development. Group of answer c
    12·1 answer
  • 25
    7·2 answers
  • Gathering information with your eyes is called
    6·2 answers
  • Mass media can be employed to publicize a cause or product by distributing information that is distorted or exaggerated. What is
    7·1 answer
  • Match the term with its beliefs about the millenium.
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!