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Over [174]
3 years ago
7

On april 1, the company retained an attorney for a flat monthly fee of $3,500. Payment for april legal services was made by the

company on may 12. Prepare the required adjusting entry, if any
Business
1 answer:
telo118 [61]3 years ago
8 0

Answer:

<u>On April 30,</u>

Dr Attorney Fee Expense $3500

Cr Attorney Fee  Payables       $3500

<u>On May 12,</u>

Dr Attorney Fee  Payables $3500

Cr Cash Account                        $3500

Explanation:

Okay here the attorney fee is the legal fee expense that was accrued in April and must accounted for as accrued expense. The accounting entry would be increase in payables (Credit) and expense (Debit) as well.

Dr Attorney Fee Expense $3500

Cr Attorney Fee  Payables       $3500

Now on May 12, the company paid the expense which means that the legal fee payable was reduced to zero (Reduction in liabilities is always debited) and the cash is also reduced by $3500 (Asset reduction is always credited).

Dr Attorney Fee  Payables $3500

Cr Cash Account                        $3500

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Turke beef

Explanation:

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3 years ago
Each Cutco knife goes through 30 steps to ensure that it meets the firm's standards and provides a good value for a premium prod
Yuki888 [10]

Answer 1: Consistency in quality

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Answer 2: Product differentiation

Explanation: Product differentiation is a concept in which a company tends to present its products to the market in a way that it establishes a specific place in the market and in ts own product line.

The product development consists of high quality materials and the final product stands out in the market. The market of such products is very niche. The Knife Cutco is promoting, is going through the product differentiation phase.

Answer 3: Product positioning

Explanation: Product positioning is a phenomenon in which a company positions their products in the minds of the consumer. They build an imagery of their product which is thought on every mention of that product.

When Cutco decided to make a donation with every pink handled knife sold, it was creating a perception of Goodwill attached to this product. It automatically attracts the donaters and do good people in the market.

Answer 4: Promotion

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Cutco promotes its products on the basis of its products' value, premium quality, exceptional service, and the fact it is "made in the USA." This segregates them from the rest of the market and pushes it in the front row, by creating trust and reputation.

Therefore, this represents Cutcos' promoting strategies and efforts.

8 0
3 years ago
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andre [41]
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5 0
2 years ago
What courses should high school students take if they are interested in radiology?
belka [17]

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A radiologist is a doctor who specializes in diagnosing and treating disease and injury through the use of imaging techniques such as:

X-rays

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magnetic resonance imaging (MRI)

nuclear medicine

positron emission tomography (PET)

fusion imaging, and

ultrasound

Adequate training, understanding of radiation safety and protection and a Bachelor’s degree is required. If high schools students are interested in radiology. A<span> number of undergraduate students volunteer in medical settings to gain experience. If high school students are interested in radiology, they must take <span>medical school prerequisite courses like biology, chemistry and physics. </span></span>

6 0
3 years ago
Magellan is adding a project to the company portfolio and has the following​ information: the expected market return is 11.6​%,
fredd [130]

Answer:

The beta of the new project is 1.475

Explanation:

The beta is the measure of systematic or market risk associated to a stock. The beta is used in the calculation of the required/expected rate of return under the CAPM model. The CAPM model uses the following formula to calculate the required/expected rate of return,

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0.154 - 0.036  =  Beta * 0.08

0.118 / 0.08 = Beta

Beta = 1.475

6 0
3 years ago
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