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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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A trader creates a long butterfly spread from options with strike prices $60, $65, and $70 by trading a total of 400 options. Th

Rufina [12.5K]

Answer:

The amount of maximum net loss is $100

Explanation:

The butterfly spread comprise of buying 100 options with the strike price of $60 and $70 and the selling 200 options with the strike price of $65.

The maximum loss is when the strike price is less than $60 or be greater than $70. The aggregate payoffs from the options will amount to $0.

The cost of setting up the butterfly spread is:

= 11 × 100 + 18 × 100 - 14 × 200

= $100

Therefore,the net loss will be $100

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3 years ago

Ed logg is credited with the development of which of these games?

Kaylis [27]

I don't know if you have any options, but here is a list of games that Ed Logg is credited with the development of, and then based on that list you can answer your question:
Asteroids, Centipede, Gauntlet, Gauntlet II, Millipede, Rush, Rush 2: Extreme Racing USA, San Francisco Rush 2049, San Francisco Rush: Extreme Racing, and Xybots.

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3 years ago

Mark was recording accounting transactions when he came across a non-standard transaction type. However, based on his knowledge

vlada-n [284]

Answer:

The best answer to the question: This is an example of used a(n):___, would be, A: Conceptual framework to solve new problems.

Explanation:

A conceptual framework is a an analytical method, or technique, that is used in order for the person to be able to see the full picture, and the different variants and factors around it, in an organized manner. Applying this technique will allow a person to discover all the factor within an issue, visualize them and propose viable solutions to them. And this is what Mark did when he came by the non-standard transaction type. He still had to record the transaction, but the usual methods would not work for it. Therefore, Mark made use of his own knowledge and after viewing the problem through the conceptual framework technique, he was able to find a reasonable solution and thus filfill his job.

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3 years ago

Campbell Corporation uses the retail method to value its inventory. The following information is available for the year 2021: Co

Anton [14]

Answer:

$242,168.82

Explanation:

Inventory on December 31, 2021

Cost. Retail

Beginning inventory 300,000 291,000

Add: purchases 581,000 928,000

Add: freight in. 19,000

Add: net markups. 31,000

900,000 1,250,000

Less net markdown. 5,000

Goods available for 900,000 1,245,000

Cost to retail %

900,000/1,245,000

0.722891566

Less: net sales. 910,000

Estimated ending 335,000

Estimated ending inventory at cost

335,000 × 0.722891566

242,168.82

6 0

3 years ago

Hayden Company is considering the acquisition of a machine that costs $324,000. The machine is expected to have a useful life of

Sati [7]

Answer:

Cash payback period= 3.2 years.

Explanation:

Lets first understand what a cash payback period is. As the name suggest, payback period is the time duration within which a business recovers it's investment and/or capital investment and the payback period is expressed in number of years. The formula for payback period is as follows:

Payback period= initial investment ÷ annual cash-flows

In the question annual operating income is given just for distraction.

payback period = $324000 ÷ 100000

payback period= 3.2 years.

This means if Hayden company decides to invest in the machine, it would recover the cost of machine (i.e it's investment) in approximately three and half years.

7 0

3 years ago