Add the following and reduce to lowest terms 3/9+3/9

At year-end, the following additional information is available: a. The balance of Prepaid Rent, $4,920, represents payment on Oc

Rudiy27

Question Completion:

The December 31, 2018, unadjusted trial balance for Demon Deacons Corporation is presented below.

Accounts Debit Credit

Cash $ 8,100

Accounts Receivable 13,100

Prepaid Rent 4,920

Supplies 2,100

Deferred Revenue $ 1,100

Common Stock 11,000

Retained Earnings 4,100

Service Revenue 37,520

Salaries Expense 25,500

Total $ 53,720 $ 53,720

Use the following additional information to prepare the adjusted Trial Balance.

Answer:

Demon Deacons Corporation

Adjusted Trial Balance

As of December 31, 2018

Accounts Debit Credit

Cash $ 8,100

Accounts Receivable 13,100

Prepaid Rent 3,280

Supplies 610

Deferred Revenue $ 825

Common Stock 11,000

Retained Earnings 4,100

Salaries Payable 700

Service Revenue 37,795

Rent Expense 1,640

Salaries Expense 26,200

Supplies Expense 1,490

Total $ 54,420 $ 54,420

Explanation:

a) Data and Analysis:

a. Rent Expense $1,640 Prepaid Rent, $1,640 ($4,920 * 2/6) rent from November 1, 2018, to April 30, 2019.

b. Deferred Revenue, $275 Service Revenue $275

c. Salaries Expense $700 Salaries Payable $700

d. Supplies Expense $1,490 Supplies $1,490

Accounts Debit Credit

Cash $ 8,100

Accounts Receivable 13,100

Prepaid Rent 4,920 - 1,640 = 3,280

Supplies 2,100 - 1,490 = 610

Deferred Revenue $ 1,100 -275 = 825

Common Stock 11,000

Retained Earnings 4,100

Salaries Payable 700

Service Revenue 37,520 + 275 = 37,795

Rent Expense 1,640

Salaries Expense 25,500 + 700 = 26,200

Supplies Expense 1,490

Total $ 53,720 $ 53,720

4 0

3 years ago

15. The Eller Mutual Fund had a Net Asset Value (NAV) per share of $17.50 on January 1, 2019. On December 31, 2019 the fund’s NA

klio [65]

Answer:

The rate of return is 21.26%

Explanation:

Before calculating the return in percentage terms, it would be more appropriate to start with computing the return on the mutual fund in dollars ' terms.

Return in dollars terms;

Net Asset Value on 31 December 2019 $19.47

less

Net Asset Value on 1 January 2019 ($17.50)

return on NAV $1.97

Add:

Income distributions $0.75

Capital gains distributions $1.00

Total return on mutual fund $3.72

Rate of return=total return mutual fund/Opening net asset value

rate of return =$3.72/$17.50

=21.26%

7 0

3 years ago

consumption vs. saving. Do you think these preferences are more influenced by advertisements for products that are consumable to

Sergio039 [100]

Answer:

Consumption is influenced by advertisements for products that are consumable today and savings from ads that advocate in investing tomorrow.

Explanation:

Both are important to run the circular flow of economy. If a person invests savings on a product, so there should be someone to consume it, this will help in achieving equilibrium point between aggregate demand and aggregate supply.

Increase in one shall result in decrease in other and in both cases either there will be more products to be consumed rather than the actual consumption resulting in surplus if there is excess saving or vice versa .

7 0

3 years ago

You can choose between Machine A or B. Your annual interest rate is 7%. You need a machine for 6 years (required service period)

dedylja [7]

Answer:

M1 EAC = 38,576.91

M2 EAC = 29,784.89

Explanation:

The equivalent annual cost is the PMT of the present worh of the machine/investment.

Machine A

54,000 at year 0 then 54,000 at beginning of year 4th

and 18,000 per year

We need to bering into present the 54,000 of the fourth year

the 18,000 are already split into each year.

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 54,000

time 3 (it is done at the beginning of the 4th year not at the end of it)

rate 0.07

$\frac{54000}{(1 + 0.07)^{3} } = PV$

PV 44,080.09

54,000 + 44,080.09 = 98,080.09

Then we calculate the PMT

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV $98,080.09

time 6 years

rate 0.07

$98080.09 \div \frac{1-(1+0.07)^{-6} }{0.07} = C\\$

C $ 20,576.791

Now we add the annual cost of 18,000

getting 38,576.79 as annual equivalent cost ofr machine 1

For machine B

anual cost of 13,000

purchase of 92,000

and 18,000 salvage value at end of year 6:

$\frac{Maturity}{(1 + rate)^{time} } = PV$

Maturity 18,000.00

time 6.00

rate 0.07

$\frac{18000}{(1 + 0.07)^{6} } = PV$

PV 11,994.16

This is positive as is a cash inflow.

net worth: 92,000 - 11,994.16

net worth: 80.005,84‬

Now, we solve for PMT:

$80005.84 \div \frac{1-(1+0.07)^{-6} }{0.07} = C\\$

C $ 16,784.889

add the yearly maintenance cost of 13,000

Equivalent Annual Cost: 29,784.89

7 0

3 years ago

All of the following are correctly paired with their phase of the business cycle, EXCEPT __________.

loris [4]

All of the following are correctly paired with their phase of the business cycle, except rising unemployment: recovery phase. The correct option among all the options that are given in the question is the third option or option "C". I hope that this is the answer that has actually come to your great help.

4 0

4 years ago