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s344n2d4d5 [400]
3 years ago
8

On May 1, Sellers Marketing Company received $1,500 from Franco Marcelli for a marketing campaign effective from May 1 of the cu

rrent year to April 30 of the following year. The Cash receipt was recorded as unearned fees and at year-end on December 31, $1,000 of the fees had been earned. Assuming adjustments are only made at year-end, the adjusting entry on December 31 would be:
Business
1 answer:
GenaCL600 [577]3 years ago
8 0

Answer:

Date            Account titles and explanations              Debit      Credit

December 31              Unearned fees                             $1,000  

                                     Earned fees                                          $1,000

Explanation:

Revenue is only registered when it is undoubtedly received, because of the concept of income recognition. The sum of $1500 is unearned money, because it is merely a credit to deliver the service. $1000 will be registered as salaries at year-end, and the same amount will be deducted from unearned revenue.

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An October sales forecast projects that 7,000 units are going to be sold at a price of $11.50 per unit. The desired ending inven
REY [17]

Answer:

The correct answer is:

$80,500 (b.)

Explanation:

First of all, not that total anticipated October sales is the same thing as projected October sales. Therefore, this sale is calculated as follows:

Projected sales = 7,000

unit price = $11.50 per unit

Therefore

Price for 7,000 units = 11.5 × 7,000 = $80,500

5 0
3 years ago
Jasper Furnishings has $225 million in sales. The company expects that its sales will increase 10% this year. Jasper's CFO uses
lions [1.4K]

Answer:

$75,637.5

Explanation:

Sales = $225 million

Growth in sales = 10%

Inventory = $15 + 0.245(Sales)

(sales) S1 = $225,000,000 × 1.10

   = $247,500,000

Inventory = $15 + 0.245 ($247.5)

                = $15 + 60.6375

                = 75.6375

Since this relationship is expressed in thousands of dollars,

Inventory = $75.6375 x $1000

                = $75,637.5

7 0
3 years ago
In many larger U.S. based firms the __________ match(es) the overall strategy of the firm and reinforce(s) the culture emerging
Gre4nikov [31]

Answer:

Reward system

Explanation:

The reward system is the mechanism that a company uses to provide a compensation to their employees that can include salary, bonuses, equity and perks to keep them happy, maintain loyalty and increase motivation. This allows the company to have a strong team that is willing to work hard in their daily activities to achieve the company's goals.

According to this, the answer is that in many larger U.S. based firms the reward system match(es) the overall strategy of the firm and reinforce(s) the culture emerging from day-to-day activities because the reward system is established in a way in which it contributes to the appropiate implementation of the strategy to achieve the goals and it also helps strengthen the way in which people perform their activities.

4 0
3 years ago
What is 4 P's in entrepreneur​
leva [86]

Answer:

passion, persistence, perseverance, and preparation

Explanation:

6 0
3 years ago
Which position describes karl marx’s view of religion and society?
PtichkaEL [24]
The position that describes Karl Marx's view of religion and society is his power with the connection to religion. Karl Marx as one of the most influential people in the history for he implemented various revolutionary actions which were condemned and criticized.
5 0
3 years ago
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