Because in the future you will need to learn that especially if you want to have your own business
No entry is required on the company's books.
<h3>What is a journal entry?</h3>
The date, the amount to be credited and debited, a brief description of the transaction, and the accounts involved are all included in each journal entry along with other information pertinent to a single business transaction. Depending on the business, it could include a list of the impacted subsidiaries, tax information, and other details.
Journal entries are of six main types, that is:
- Opening Entries
- Transfer Entries
- Closing Entries
- Adjusting Entries
- Compound Entries
- Reversing Entries
To know more about Adjusting Entries refer to: brainly.com/question/13449237
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Answer:
10.30
Explanation:
20
8000
160 000 June
10000
200 000 July
20 - 3.20 -4 - .50 -2 = 10.30
costs:Printing and binding...............................$3.20 per copyBookstore discounts................................$4.00 per copySalespersons’ commissions....................$0.50 per copyAuthor’s royalties...................................$2.00
Answer:
The answer is by charging lower price on remaining three ticket (any ticket price above $0)
Explanation:
As company is not giving any refreshment so it not incurring any variable cost. So here sales is equal to contibution and every single dollar revenue generated is a contribtion towards fixed cost and targeted profit. So by decreasing sale price on remaining tickets company will be able to sell them and this sale will result in more profit to the company.
Answer:
A debit to Unearned Rent and a credit to Rent Earned for $2,400
Explanation:
When cash is collected in advance for revenue from lease, the revenue will not be recorded as revenue until the lease service has been performed. Hence the cash collected in advance will be recorded as
Debit Cash $6,400
Credit Deferred revenue $6,400
Being cash collected on October 1 for lease to run for 8 months.
Between October 1 and December 31 is 3 months.
Hence, amount earned
= $800 × 3
= $2,400
To recognize this amount, Debit Unearned/Deferred revenue, credit revenue with the amount earned.
