Answer:
the numbers are missing, so I looked for a similar question:
a. On 1, Tree Service prepaid $7,200 for six months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at adjusts the accounts only at 31, the end of its fiscal year.
Dr Rent expense 1,200 (= $7,200 / 6)
Cr Prepaid rent 1,200
Balances:
Prepaid rent 6,000
Rent expense 1,200
b. On 1, Tree Service paid $1,050 for supplies. At 31, has $400 of supplies on hand. Make the required journal entry at 31. Then post all amounts to the accounts and show their balances at 31. Assume no beginning balance in supplies.
Dr Supplies expense 650 (= $1,050 - $400)
Cr Supplies 650
Balances:
Supplies 400
Supplies expense 650
c. On 1, Tree Service prepaid for six months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at adjusts the accounts only at 31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at 31.
SAME AS QUESTION A
A hierarchical structure refers to a company's chain of command, typically from senior management and executives to general employees. In other words, this structure applies to organizations with a sole leader and a flow of subordinates underneath them. For example, let's say a company has 10 employees.
Answer:
The answer is $53,732.
Explanation:
The value of the equipment reported on Libby Company's balance sheet is equal to:
Cash payment at purchase + Present value of 8 equal semiannual payment, $6,700 each discounted at 3% ( because semiannual payment is made for 4 years so we have 2 x4 = 8 payments; and annual borrowing rate is 6% so we have discount rate = 6% /2 = 3%).
with:
Cash payment at purchase = $6,700;
Present value of 8 equal semiannual payment, $6,700 each discounted at 3% = (6,700/3%) x ( 1 - 1.03^(-8) ) = $47,032 ( that is, apply the formula to find present value of annuity).
we have:
The value of the equipment reported on Libby Company's balance sheet = 6,700 + 47,032 = $53,732.
Land doesn't cease to exist, and it's not depreciated or covered by property insurance because of its Indestructibility. The property insurance coverage might include homeowners insurance, renters insurance, flood insurance, and earthquake insurance. The exception is high-value and the expensive personal property, which is normally covered by purchasing a "rider" to the policy.
If a claim is made, the property insurance policy will either reimburse the insured for the actual cost of the damage or the cost of replacing the problem. The property insurance can include, among the other things, homeowners insurance, renters insurance, flood insurance, and the earthquake insurance.
To learn more about insurance, click here.
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Answer:
c. Increase of $192,500
Explanation:
Note: The full question is attached
Particulars Luxury Amount$
Sales $950,000
(380000*250/100)
Less: Variable cost $612,500
(245000*250/100
) <u> </u>
Total contribution $337,500
Less: Fixed expenses <u>$80,000 </u>
Net Operating Income <u>$257,500</u>
Change in Operating Income = New Profit - Existing profit = $257,500 - $65,000 = $192,500
Hence, there is an increase of $192,500
