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3 years ago

Consider the following situations for Shocker:

Business

2 answers:

alex41 [277]3 years ago

6 0

Answer:

1. GENERAL JOURNAL

ACCOUNT TITLE DEBIT CREDIT

DEC 31,2018

a Deferred Revenue 1,500

Service Revenue 1500

b Advertising Expense 900

Prepaid Advertising 900

c Salaries Expense 8000

Salaries Payable 8000

d. Interest Expense 2100

interest Payable 2100

(to adjust for accrued interest expense)

2 a,$1500 for the next three months

b.$900

c.Salaries Expense will be recorded as accrual, so there wont be any computation

d.I=$2100

Explanation:

GENERAL JOURNAL

ACCOUNT TITLE DEBIT CREDIT

DEC 31,2018

a Deferred Revenue 1,500

Service Revenue 1500

b Advertising Expense 900

Prepaid Advertising 900

c Salaries Expense 8000

Salaries Payable 8000

d. Interest Expense 2100

interest Payable 2100

(to adjust for accrued interest expense)

2. Service Revenue is credited and the deferred revue is on the debit side

therefore

$4500*1/3

=$1500 for the next three months

b. one-third of advertisement(10/30) has been aired. Advertising expenses is debited while prepaid advertising is credited

$2700*10/30

$900

c.Salaries Expense will be recorded as accrual, so there wont be any computation

d.Interest for four month from September 1 to December 31

I=principal *rate *time

I=70000*9%*4/12

I=$2100

denis23 [38]3 years ago

4 0

Answer:

Explanation:

1. 28/11 Debit: Bank. $4,500

Credit: deferred Rev $4,500

Being advance pmt for services

2. 01/12 Debit: advert exp $900

Debit: Ad Prepaym. $1,800

Credit: Bank. $2,700

Being payment for advert

3. 31/12 Debit: Salary payable$8000

Credit: Salary Exp. $8000

Being Accrued salaries

4 31/08 Debit: Bank. $70,000

Credit: Loan A/c. $70,000

Being bank loan borrowed

5. 31/12 Debit: into on loan $2,100

Credit: Bank. $2,100

Being accrued interest on loan borrowed.

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Davidson international has 13,700 shares of stock outstanding at a price per share of $28. the firm has decided to repurchase 50

alexdok [17]

The shareholder equity is equal to:

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Price per share now becomes:

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3 years ago

Which of the following statements accurately describe the phases of a business cycle? Check all that apply.

sattari [20]

Answer:

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d. A peak level of business activity occurs at the end of the expansion phase and the beginning of the contraction phase.

A contraction period is characterized by the following attributes: businesses that are operating lower productive capacity, HIGH unemployment, low retail sales, LOWER prices and interest rates, a declining stock market, and expectations of LOWER business profits.

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3 years ago

Salah’s net income for the year ended December 31, Year 2 was $191,000. Information from Salah’s comparative balance sheets is g

krok68 [10]

Answer:

Cash Dividends - Year 2 = $84400

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Thus, to calculate the dividends paid by the business in a particular year, we can calculate the change in retained earnings and deduct it from the net income.

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3 years ago

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Answer:

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Since Walt received some money from this transaction, that must be considered a gain since it is not included under § 351.

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Answer:

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3 years ago

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