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trasher [3.6K]
3 years ago
12

For each separate case below, follow the three-step process for adjusting the unearned revenue liability account at December 31.

Business
1 answer:
Anastaziya [24]3 years ago
5 0

Answer:

Step 1) The current balance equals to $ 9000

Step 2)The current balance should equal to (9000/12 * 10) $ 7500

Step 3) the adjusting entry would be

Dec 31              Unearned Revenue          $ 1500 (dr)

                              Revenue Earned                                     $ 1500 (Cr)

Step 1) The current balance equals to $ 400.

Step 2) The current balance should equal $ 100

Step 3) The adjusting entry would be

Dec 31             Unearned Services Revenue    $ 300 (dr)

                                Services Revenue  Earned                     $ 300 (Cr)

Step 1) The current balance equals to $ 3000.

Step 2) The current balance should equal ( $ 30,000/12 *4= $ 10,000) $ 30,000- $ 10,000= $ 20,000

Step 3) The adjusting entry would be

Dec 31             Unearned Rent Revenue    $ 10,000 (Dr)

                                  Rent Revenue  Earned                      $ 10,000 (Cr)

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Answer:

Results are below.

Explanation:

Giving the following information:

Initial investment= $1,000

Annual interest rate= 6% = 0.06

Number of periods= n

<u>To calculate the future value after "n" periods, we need to use the following formula:</u>

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<u>For example:</u>

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The Blumer Company entered into the following transactions during 2012: 1. The company was started with $22,000 of common stock
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Where is the question?
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A retail establishment accepts either the American Express or the VISA credit card. A total of 24 percent of its customers carry
kozerog [31]

Answer:

The answer is: 74% of its customers carry a credit card the store will accept.

Explanation:

  • Let A denote the event a customer carries American Express credit card (24%)
  • Let V denote the event a customer carries Visa credit card (61%)
  • Let AV denote the event a customer carries both credit cards (11%)

P(A ∪ V) = probability that a customer carries at least one credit card

P(A ∪ V) = P(A) + P(V) − P(AV)

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3 years ago
Calculate the annual coupon payment if the semi-annual coupon paying bond price is $920, the yield for the bond is 6%, the bond'
Jobisdone [24]

Answer:

$48.40

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Yield = 6%

Rate = Yield/2 = 6%/2 = 3%

YTM = 9

Nper = YTM*2 = 9*2 = 18

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Price(PV) = $920

Monthly payment = PMT(0.03, 18, -920, 1000)

Monthly payment = $24.1833

Coupon rate = (PMT/Face value) * 2

Coupon rate = (24.1833/1000) * 2

Coupon rate = 0.0241833 * 2

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Scarcity of a key resource or input into the production process
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Scarcity reduces the producer's ability to manufacture a limitless number of goods, thus limiting output.

<h3>What is the production process?</h3>

Producers may have to make the difficult decision of which product to prioritize for manufacture out of a variety of items using limited resources.

Overall, a lack of resources or manufacturing inputs results in a smaller number of goods or services available on the market, which has an impact on customers by forcing them to make difficult purchasing decisions.

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