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vladimir2022 [97]
3 years ago
15

The ledger of Claudell Company includes the following unadjusted normal balances: Prepaid Rent $1,000, Services Revenue $55,600,

and Wages Expense $5,000. Adjusting entries are required for (a) prepaid rent expired $200; (b) accrued services revenue $900; and (c) accrued wages expense $700. Prepare a 10-column worksheet with six rows for the following accounts: Prepaid Rent, Services Revenue, Wages Expense, Accounts Receivable, Wages Payable, and Rent Expense. Enter the necessary adjustments on the work sheet and complete the work sheet for these accounts.
Business
1 answer:
Vinil7 [7]3 years ago
3 0

Answer:

due to a lack of space, I prepared the 10 column worksheet on an excel spreadsheet

Explanation:

Prepaid Rent $1,000

Services Revenue $55,600

Wages Expense $5,000

a) Dr Rent expense 200

    Cr Prepaid rent 200

b) Dr Accounts receivable 900

    Cr Service revenue 900

c) Dr Wages expense 700

    Cr Wages payable 700

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Match the following terms with their definitions. Salary, rewards, net pay, occupation, costs, benefit, deduction1. a fixed amou
Katena32 [7]

Answer:

1. A fixed amount of money periodically paid to a person for work – Salary

2. The price paid to acquire, produce, or accomplish something – costs

3. The portion of the wages that the employee actually gets to take home - net pay

4. Perks provided by your employer – benefit

5. Something that causes or increases personal satisfaction – rewards

6. An amount that is subtracted from your paycheck employee – deduction

7. A person's usual work or business; a way of earning a living - occupation

Explanation:

1. The salary is defined as the amount received by a person for work, this income does not include any extra benefit. to be considered as a salary it has to be paid periodically.

2. The cost is the expense caused for the production of a product, in the case of a service is the cost of offering it. includes direct and indirect labor force cost, amortized costs of the machinery and supplies (for products).

3. The net pay is the salary amount paid to an employee after the deduction of any amount legally recognized, it may include taxes and other items.

4. The benefits are extra gains that an employer may give to workers, different from the salary amount, it may include bonus or specific medical insurance advantages.

5. The rewards are non-usual prizes or recognitions received by people due to a personal or labor goal.

6. The deduction is al legal reduction done by a company in the payment of an employee.

7. The occupation is the activity that a person develops to obtain living resources, it can include personal business or employment.

4 0
3 years ago
Which of the following statements most accurately describes the state of banking in the U.S.?
trapecia [35]

Answer:

B. A large number of very large and small banks

I think

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3 years ago
"Planning sessions, workshops, formal reports, and personal conversations are all part of the internal __________ that is necess
Ksju [112]

Answer:

The correct answer is: Distribution.

Explanation:

To begin with, the concept of distribution inside the marketing field and refering specifically to the internal marketing approach is understand as the way that the informatino of the marketing strategy is distributed inside the organization with all of the members that need to know that data in order to focus on the campaign and make it possible and effective so that the objectives are accomplished. That is why that the planning sessions, workshops, formal reports and personal conversations are part of the internal distribution that is necessary to implement the marketing strategy that the company tends to use.

4 0
3 years ago
Identify each of the following features as applying more to job order operations, process operations or both job order and proce
Fynjy0 [20]

Answer:

Identification of Features Applying More to Job Order Operations, Process Operations, or Both:

Features  

1. Cost object is a process.                                  Process Operations

2. Measures unit costs only at period-end.        Process Operations

3. Uses indirect costs.                                          Both

4. Transfers costs between Work in              

   Process Inventory accounts.                            Process Operations

5. Uses only one Work in Process account.       Job Operations

6. Uses materials, labor, and overhead costs.    Both

Explanation:

The main difference between the two operations is the manner costs are accumulated.  Job operations accumulate costs for different jobs that are not similar.  Process operations accumulate costs to show the process a product passes through.  The product of a process operation is not unique like the product of a job operation.

6 0
3 years ago
Julie and Barry Spinos purchased a house for $96,400. They made a 25 percent down payment and financed the remaining amount at 5
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Answer: $79.30

Explanation:

Cost of the house = $96400

Down payment = 25% × $96400 = $24100

Mortgage = $96400 - $24100 = $72300

Interest = 5.5%

Time = 5 years

Monthly payment.= $410.66

The interest for first payment will be:

= $72300 × 5.5% × 1/12

= $72300 × 0.055 × 0.08333

= $331.36

Therefore, the amount of the first monthly payment is used to reduce the principal will be:

= $410.66 - $331.36

= $79.30

5 0
2 years ago
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