Answer: I)Accrued ReVenue /Service Revenue.
2.-Prepaid Expenses/ Insurance Expenses
3.No Entry
4.Prepaid expenses /depreciation expense
5.Accrued Interest payable/Interest Expenses
6.Accrued expenses/ Interest expenses.
7.Unearned expenses/ Service Revenue
Explanation:The type of adjusting entry/ the related account in the adjusting entry is given below
a)For Accounts Receivable---Accrued ReVenue /Service Revenue.
(b) For Prepaid Insurance---Prepaid Expenses/ Insurance Expenses
(c) Equipment ---- Equipment Exoenses. Equipment is a long-term asset that will not last so the cost of equipment is recorded in the account Equipment. No entry is needed in this account.
(d) For Accumulated Depreciation Equipment-----Prepaid expenses /depreciation expense
e) Notes Payable : Accrued Interest payable/ Interest Expenses
(f) Interest Payable--- Accrued expenses/ Interest expenses
(g) Unearned Service Revenue--Unearned expenses/ Service Revenue
If a person has a house worth $100,000, a mortgage of $90,000, savings of $5,000, a car valued at $10,000, a $7,000 car loan, an
Ludmilka [50]
Answer:
$15,000
Explanation:
A person's net worth is the difference between their total assets and total liabilities.
In this case,
<u>Assets are </u>
House $100,000
Savings $5,000
Car $10,000
<u>Total assets</u>= $115,000
<u>Liabilities</u>
mortgage of $90,000,
car loan $7,000
credit card debt $3,000
<u>Total liabilities</u>= $100,000
Net worth = Total assets - Total liabilities
=$115,000 - $100,000
=$15,000
Answer:
Distribution channels
Explanation:
The distribution channels are determined by the different phases or stages through which a product passes, so that its ownership goes hand in hand: from the manufacturer to the consumer or end user.
Formally the distribution channels could be considered as defined circuits and whose final objective is to facilitate the product by the producers so that customers can enjoy it when purchasing it. On the other hand, the distribution is usually classified according to the main object of the channel: consumables, industrial goods or services.
Answer:
a. 363000
Explanation:
depreciation expense for the year = accumulated depreciation 2018 - accumulated depreciation 2017 + asset's book value - asset's sales price = $1,245,000 - $900,000 + $75,000 - $57,000 = $363,000
an asset's book value (carrying value) = purchase cost - accumulated depreciation of the asset
Answer:
Internal cost.
Explanation:
The gasoline that a person used for his car is an example of an internal cost.
Internal costs are considered as a private costs which were incurred by the firms for the production of goods. It includes labor, depreciation, rents and inputs. These are the costs which is directly borne by a firm or an individual.
It is the direct cost associated with the firms for the production of goods and services.