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BaLLatris [955]
3 years ago
5

The following is a comprehensive problem which encompasses all of the elements learned in previous chapters. You can refer to th

e objectives for each chapter covered as a review of the concepts. Note: You must complete parts 1, 2, 3, 4 before completing part 5.
Part 5: Enter the unadjusted trial balance on an end-of-period spreadsheet (work sheet) and complete the spreadsheet using the following adjustment data.
Insurance expired during May is $275.
Supplies on hand on May 31 are $715.
Depreciation of office equipment for May is $330.
Accrued receptionist salary on May 31 is $325.
Rent expired during May is $1,600.
Unearned fees on May 31 are $3,210.
If an amount box does not require an entry, leave it blank or enter "0".
Kelly Consulting
End-of-Period Spreadsheet (Work Sheet)
For the Month Ended May 31, 20Y8
Unadjusted Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash
Accounts Receivable
Supplies
Prepaid Rent
Prepaid Insurance
Office Equipment
Accum. Depreciation
Accounts Payable
Salaries Payable
Unearned Fees
Common Stock
Retained Earnings
Dividends
Fees Earned
Salary Expense
Rent Expense
Supplies Expense
Depreciation Expense
Insurance Expense
Miscellaneous Expense
Net income

Business
1 answer:
weeeeeb [17]3 years ago
5 0

Part of question attached

Answer and Explanation:

Please find answer and explanation attached

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Suppose that a worker in Caninia can produce either 2 blankets or 8 meals per day, and a worker in Felinia can produce either 5
emmasim [6.3K]

Answer:

15 blankets; 35 meals

Explanation:

First, we compute Opportunity Cost (OC).

In Caninia,

OC of blanket = 8/2 = 4 meals

OC of meals = 2/8 = 0.25 blanket

In Felinia,

OC of blanket = 1/5 = 0.2 meals

OC of meals = 5/1 = 5 blanket

Since Felinia can produce blankets at lower OC (0.2 < 4), so

Felinia has comparative advantage and specializing in blankets.

Total blankets produced with trade = 5 x 10

                                                           = 50

Since Caninia can produce meals at lower OC (0.25 < 5), so

Caninia has comparative advantage and specializing in meals.

Total meals produced with trade = 8 x 10

                                                       = 80

After trade,

Total blankets produced = 10 + 25

                                         = 35

Decrease in blanket output = 50 - 35

                                              = 15

Total meals produced = 40 + 5

                                     = 45

Decrease in meals output = 80 - 45

                                            = 35

5 0
2 years ago
Miramar Industries manufactures two products, A and B. The manufacturing operation involves three overhead activities - producti
PolarNik [594]

Answer:

General overhead= $3.81 per direct labor hour

Explanation:

Given the following information:

General Overhead $80,000 Number of direct labor hours

Number of direct labor hours 9,000 12,000= 21,000

<u>To calculate the activity rate, we need to use the following formula:</u>

Activity rate= estimated costs / total amount of allocation rate

General Overhead= 80,000 / 21,000

General overhead= $3.81 per direct labor hour

8 0
2 years ago
[based on the results of the simulation, can policy market interventions cause a change in consumer or producer surplus? explain
WITCHER [35]

When the intervention rises the price stage of goods, then the incentive to supply extra desires increases and consequently growing manufacturers' surplus. So policy market can motivate both client and producer surplus.

A tax causes consumer surplus and producer surplus (earnings) to fall.. some of those losses are captured inside the tax, however, there may be a loss captured with the aid of no celebration—the value of the devices that could be exchanged had been there no tax. those lost gains from trade are called deadweight losses.

For each monetary transaction, there can be both producer surplus (or profit) and client surplus. The mixture–or blended–a surplus is called the economic surplus.

Learn more about policy market here: brainly.com/question/25754149

#SPJ4

6 0
1 year ago
Zitrik Corporation manufactured 90,000 buckets during February. The variable overhead cost-allocation base is $5.05 per machine-
Yanka [14]
1. What is the variable overhead spending variance? (HINT: The answer $980 unfavorable, but I need work to support this)
2. What is the variable overhead efficiency variance? (HINT: The answer is $4,040 unfavorable, but I need work to support this)
3 0
2 years ago
Mich Inc., a hardware store, has a rating system in place that rates employees on their friendliness, usefulness, and product kn
makvit [3.9K]

Answer:

Customer-focused compensation strategy

Explanation:

Customer-focused compensation strategy is the rating system where the employees are rated based on the way customers are being serviced. In this scenario, Mich Inc. is rating its employees on their friendliness, usefulness, and product knowledge, so the compensation strategy followed by Mich is closely described as a customer-focused strategy.

7 0
3 years ago
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