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Tju [1.3M]
3 years ago
15

Depreciation on the company’s wind turbine equipment for the year is $6,200. The Prepaid Insurance account for the solar panels

had a $3,200 debit balance at December 31 before adjusting for the costs of any expired coverage. Analysis of prepaid insurance shows that $1,200 of unexpired insurance coverage remains at year-end. The company received $6,600 cash in advance for sustainability consulting work. As of December 31, one-third of the sustainability consulting work had been performed. As of December 31, $2,400 in wages expense for the organic produce workers has been incurred but not yet paid. As of December 31, the company has earned, but not yet recorded, $520 of interest revenue from investments in socially responsible bonds. The interest revenue is expected to be received on January 12. For each of the above separate cases, prepare the required December 31 year-end adjusting entries. Score answer Visit question mapQuestion 10 of 10 Total 10 of 10 Prev
Business
1 answer:
GrogVix [38]3 years ago
8 0

Answer & Explanation:

depreciation expense                  6,200  debit

  accumulated depreciation wind turbine   6,200 credit

to record depreciation expense

insurance expense       2,000 debit

        prepaid insurance                      2,000 credit

to record expired insurance

unearned revenue 2,200 debit

                service revenue    2,200 credit

to record service paid in advance

wages expense 2,400 debit

   wages payable     2,400 credit

to record accrued wages for the period

interest receivable 520 debit

    interest revenue          520 credit

to record interest earned for the period.

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The Widget Co. purchased all of its fixed assets three years ago for $6 million. These assets can be sold today for $3 million.
oksano4ka [1.4K]

Answer:

$4,800,000

Explanation:

Widget corporation purchased all of its fixed assets three years ago for $6 million

These assets can be sold today for $3 million

The company receives $1.8 million in cash after liquidation of current assets

Therefore the market value of the company's total assets today can be calculated as follows

Market value = $3,000,000 + $1,800,000

= $4,800,000

Hnence the company's market value for today is $4,800,000

8 0
3 years ago
A deposit of $100,000 is made to an investment account today. At the end of each of the next four years, $10,000 must be paid ou
andrey2020 [161]

Answer:

14.06%

Explanation:

Assume their is a cash out flow today of $100000, and next four year annual cash inflow of 10000 and 120000 at the end of year 4.

We can use IRR formula to find the interest rate.

year                            cashflow

0                                   -100000

1                                      10000

2                                     10000

3                                     10000

4                                     130000

IRR                                 14.06%

The calculation has been done on excel sheet

8 0
3 years ago
in a typical balance of payments crisis part 2 a. the interest parity curve shifts out. b. the interest parity curve shifts in.
Wewaii [24]

In a typical balance of payments crisis part the interest parity curve shifts in. Capital exodus results from downward pressure on interest rates, whereas imports rise as income levels rise.

As a result, the exchange rate depreciates, moving the BP curve to the right. The I and Y combinations that result in balance of payments equilibrium are provided by the BP curve. A given domestic price level, a certain currency rate, and a specified net foreign debt are used to build the BP curve. When the capital account deficit equals the current account surplus, equilibrium has been reached. Interest rates between two countries must be equal for interest rate parity to persist in a fixed exchange rate regime.

To learn more about payments, click here.

brainly.com/question/15138283

#SPJ4

6 0
1 year ago
Market equilibrium is defined as the point where _______________ . (Select all that apply.)
Mrrafil [7]
Quantity supplied equals to quantity demanded.
8 0
3 years ago
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Bob is a manager at a local toyota dealership who has lost five of his employees during the last year. now he has to make a deci
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The problem that Bob will most likely face in terms of evaluation and feedback step in the decision making process is when Bob’s gathered information may be neglected when the plan that he has done has been a success or it has been a failure.

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