1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Alex
3 years ago
7

Prepare the December 31 adjusting entries for the following transactions with JE explanations. 1. Fees accrued but not billed, $

6,300 2. The Supplies account balance on December 31, $4,750; Supplies on hand, $960 3. Wages accrued but not paid, $2,700 4. Depreciation of office equipment, $1,650 5. Rent expired during year, $10,800 Date Description Debit Credit 2.
Business
1 answer:
disa [49]3 years ago
3 0

Answer:

Adjusting Entries

    Date                 Description                         Debit       Credit

1.  December 31    Fees Revenue                  $6,300

                             Account Receivable                        $6300

2. December 31    Supplies Expense            $3,790

                             Supplies Inventory                          $3,790

3. December 31    Wages Expense               $2,700

                             Wages Payable                               $2,700

4. December 31    Depreciation Expense     $1,650

                             Accumulated Depreciation             $1,650

   December 31    Rent Expense                   $10,800

                             Prepaid Rent                                    $10,800

Explanation:

Supplies Expense = $4,750 - $960 = $3,790

Rent expired term is considered as there is a prepaid rent balance of $10,800

You might be interested in
On January 1,2013, James Company reported total current assets of $658,000 and total current liabilities of $365,000. During the
Alex17521 [72]

Answer: Option (C) is correct.

Explanation:

Total current assets = $658,000

Current Assets = total current assets - purchased equipment - salaries paid + Borrowings

= $658,000 - $2000 - $560 + $80000

= $735,440

Total current liabilities = $365,000

Working Capital of James as on December 31, 2013:

= Current Assets - Current Liabilities

= $735,440 - $365,000

= $370,440

3 0
2 years ago
Garret is an undergraduate looking for a job to pay for college. As Garret seeks employment, he is glad to know that he will be
bogdanovich [222]

Answer:

Price floor.

Explanation:

Price floor is perfect fit in the scenario given. As price floor is the legal minimum price fixed by government to protect the right of labor or work force from getting expolited at lower price, which will not fulfill the basic need of labor. It vary according to the region or place, such as rural or urban, depending on the cost of living in the region. It help the economy to have growth with equity.

5 0
2 years ago
True or false: enterprise operations systems work in conjunction with the firm's erp system to provide specific functionality to
DanielleElmas [232]

The main answer is True.

The statement is correct, enterprise operations systems work in conjunction with the firm's ERP system to provide specific functionality to support supply chain operations.

<h3>Explanation:</h3>
  • ERP system to provide specific functionality to support supply chain operations.
  • Supply chain management has been an integral part of ERP solutions adopted by several enterprises.
  • Manufacturers need to interact with various suppliers and partners to obtain the raw materials and resources at the right time and at the right amount to bring finished goods to market.
  • Businesses are actively focusing on several supply chain strategies to boost plant productivity, enhance product quality, and cut down on manufacturing costs.
  • As the operations become more extensive and globalized, the integration of SCM becomes all the more important.
  • ERP solutions can support multiple modes, such as make-to-order, engineer-to-order, and configure-to-order, and provide operations support across multiple sites in real time.
  • ERP solution streamlines the path their products go through from supplier to warehouse and finally to store for the customer.
  • As a result, businesses can avoid supply chain disruption.

This theory explains how ERP systems provide support to the supply chain.

So the given statement is True

To learn more about  Enterprise operations, refer

to brainly.com/question/25922327

#SPJ4

5 0
1 year ago
Under the liquidated damages clause in the Contract To Buy and Sell Real Estate, if the buyer defaults the seller has what optio
Yanka [14]

Answer:

points

Explanation:

4 0
3 years ago
The research and development team will gather important information by first using ________ data.
LuckyWell [14K]

Answer:

secondary data

Explanation:

Secondary data refers to the information or data that have been already gathered by and promptly accessible from different sources. Such information are less expensive and more rapidly possible than the primary data or information and furthermore might be accessible when primary data can not be acquired at all. Common sources of existing secondary data or information incorporate information gathered by government open administrations divisions, libraries, web seeks and censuses, for example, the United States Census. Organizations utilize statistical surveying to draw on existing data from online networking as a source of secondary data.

6 0
2 years ago
Other questions:
  • Adaris has always been drawn to the saying “absence makes the heart grow fonder,” and she decides to incorporate this saying int
    10·1 answer
  • MySchool Notebook Company uses 100,000 pounds of plastic pellets per year in the production of their custom 3-ring school binder
    6·1 answer
  • A business may explore the advantages of​ licensing, franchising, management​ contracts, and turnkey projects. After businesses
    13·1 answer
  • A group of businesspeople meet in order to solve the problem of decreased sales of their company's products. One of them suggest
    7·1 answer
  • Two consumers both earn $47,000 annually. One owns four motorcycles and enjoys hunting and fishing. The second plays golf weekly
    14·1 answer
  • John works in accounting. He received a birthday gift from a close personal friend, who happens to be employed by a supplier to
    10·1 answer
  • Why are wholly owned subsidiaries preferred by firms pursuing global or transnational strategies? A. They are more challenging B
    11·1 answer
  • A number of art museums around the countts, have been featuring work by an artist named mark lombardi (1951-2000), consisting of
    5·1 answer
  • Conduct online research and find three different types of loans that are available to consumers. For each loan, describe its fea
    9·1 answer
  • The united auto workers is an example of a(n) union.craft industrial occupation and associational
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!