Answer:
the numbers are missing, so I looked for a similar question:
a. On 1, Tree Service prepaid $7,200 for six months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at adjusts the accounts only at 31, the end of its fiscal year.
Dr Rent expense 1,200 (= $7,200 / 6)
Cr Prepaid rent 1,200
Balances:
Prepaid rent 6,000
Rent expense 1,200
b. On 1, Tree Service paid $1,050 for supplies. At 31, has $400 of supplies on hand. Make the required journal entry at 31. Then post all amounts to the accounts and show their balances at 31. Assume no beginning balance in supplies.
Dr Supplies expense 650 (= $1,050 - $400)
Cr Supplies 650
Balances:
Supplies 400
Supplies expense 650
c. On 1, Tree Service prepaid for six months' rent. Give the adjusting entry to record rent expense at Include the date of the entry and an explanation. Then post all amounts to the two accounts involved, and show their balances at adjusts the accounts only at 31, the end of its fiscal year. Prepare the adjusting journal entry to record the rent expense at 31.
SAME AS QUESTION A
Answer:
Mortgagor
Explanation:
A mortgagor is a person that borrows money from a lender usually called a mortgagee for a real estate purposes.
In a mortgage transaction, the borrower is the the mortgagor while the lender is the mortgagee.
In the case of the above question, Tom is a mortgagor because he is borrowing money from Joe who is a lender and even providing a security for the loan.
Cheers
Answer:
Predetermined manufacturing overhead rate= $42 per direct labor hour
Explanation:
Giving the following information:
Estimated manufacturing overhead= $924,000
Estimated direct labor hours= 22,000
To calculate the predetermined manufacturing overhead rate we need to use the following formula:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 924,000/22,000
Predetermined manufacturing overhead rate= $42 per direct labor hour
Answer:
2250
Explanation:
Assumption: <u>Par value of the bonds to be issued is $1000 </u>
Current Capital structure is 100% equity financed of Dirty Don's Bicycle Shop.
Share capital of Dirty Don's bicycle shop = 1,00,000 shares × $50
= $5000000
After restructuring, the capital structure shall comprise of 45% debt and 55% equity.
Hence, the proportion of debt = 45% of $50,00,000 = $22,50,000
Assumed: par value of bond is $ 1000
In this case, the number of bonds to be sold = 
= 2250 bonds
Thus, 2250 bonds will have to be sold at $1000.
Bonds refer to debt instruments whereby the borrower raises long term finance in exchange for making periodic coupon payments in the form of interest and principal repayment upon date of maturity.
