1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Airida [17]
3 years ago
12

e Arlington Motor Pool Internal Service Fund had the following transactions and events during January 2018. Using the "Additiona

l Information" provided below. Prepare journal entries to record the following transactions: January 2018 transactions: 1. Paid salaries for the month in cash (1/12 of $80,000) 2. Paid $600 cash for fuel and maintenance expenses 3. Recorded depreciation expense for the month 4. Recorded insurance expense for the month 5. Accrued benefits expense for the month 6. Billed for motor vehicle services as follows: General Fund, 80 trips; Golf Course Enterprise Fund, 10 trips
Business
1 answer:
Akimi4 [234]3 years ago
4 0

Answer:

Journal Entries

1) Debit Salaries Expense $6,667 Credit Bank $6,667

2) Debit Fuel and Maintenance expense $600, Credit Bank $600

3) Debit Depreciation Expense $amount Credit Accumulated depreciation $amount

4) Debit Insurance Expense $amount Credit Bank $amount

5) Debit Benefit Expense $amount Credit Accrued Benefit Expense $amount

6) Debit Accounts Receivable ( total of all trips) $amount Credit Service Revenue $amount

Explanation:

The Question is incomplete but i will do the typical journal entries to the transactions without figures.

1) The salaries are for one month and in brackets there is a $80,000*1/12 calculation meaning the $80,000 is for the year, now if it was already recorded then we debit salaries payable $6,667 credit bank $6,667

4) Insurance expense is debited if it is paid as it is incurred but if it has an Prepaid insurance account then we credit the Prepaid insurance account instead of Bank.

You might be interested in
True or False:
rusak2 [61]

Answer:

Check the explanation

Explanation:

Efficient market theory states that the security price reflects all the available information of the market. It means there is no reason to believe that prices are incorrect.  

Thus, the given statement is false.  

The past data is not useful for decision making. Information of past trends may not help the investor to earn abnormal returns.  

The statement is consistent with weak form efficiency as current price reflects the past price movements.  

Thus, the statement belongs to weak form efficiency.  

The stock price will increase and settle at a new equilibrium level.  

4 0
3 years ago
Devin is preparing a Works Cited list. He has two articles by the same author.
Ksivusya [100]

Answer:

answer is

put those two articles in to alphabetical order according to their titles

Explanation:

8 0
3 years ago
Select the correct answer.
almond37 [142]

Answer:

answer is b

Explanation:

8 0
2 years ago
What is the expected return if a firm has a payout ratio of 0.4, a return on equity of 25%, and a dividend yield of 6%
Varvara68 [4.7K]

Answer:

21%

Explanation:

We can calculate the expected return of a firm by add dividend yield and growth rate but in this question, the growth rate is not given therefore we will find growth rate first with the available data

DATA

Payout ratio = 0.4

Return on equity = 25%

Dividend yield = 6%

Solution

Growth rate = Return on equity x retention ratio

Growth rate = Return on equity x (1 - payout ratio)

Growth rate = 25% x (1-0.4)

Growth rate = 25% x 0.6

Growth rate = 15%

Expected return = Dividend yield + growth rate

Expected return = 6% + 15%

Expected return = 21%

6 0
2 years ago
Natalie walks by a bakery, and her first response to the aroma coming from the store is a desire to eat something sweet and deli
Lisa [10]
From the instantaneous response that Natalie experienced, the answer should be C) Sensation.
8 0
3 years ago
Other questions:
  • Which is missing in most areas that do not have karst topography?
    10·1 answer
  • A small change in the rate of productivity growth will have a large impact on output in the short run but a small impact in the
    9·1 answer
  • Stock A has a beta of 1.7 and has the same reward-to-risk ratio as stock B. Stock B has a beta of .8 and an expected return of 1
    13·1 answer
  • Borden, inc. wants to develop a new line of great tasting, low-calorie, low-fat, and low-cholesterol processed cheese products.
    7·1 answer
  • A sporting goods company has a distribution center that maintains inventory of fishing rods. The fishing rods have the following
    10·1 answer
  • Imagine you having your own business, what would be your pricing strategy and why?
    7·1 answer
  • The company can manufacture either two food processors per machine hour or three espresso machines per machine hour. The​ compan
    15·1 answer
  • Mullen Company purchased a new machine costing $55,200 on January 1, 2017. The machine is expected to have a $3,600 salvage valu
    15·1 answer
  • The first company to introduce a new product has an advantage in acquiring customers and in building brand loyalty.
    6·1 answer
  • if 14.6 million people are unemployed, 155.5 million people are employed, and 7.9 million people are institutionalized, what is
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!