Answer:
Adjusting journal entries
a) 1 . Debit Depreciation $10500 Credit Accumulated depreciation $10500.
2 . Debit interest expense $40 , Credit Bank $40
3 . Debit Admission revenue $ 60000, Credit Unearned admission revenue $60000
4. Debit Prepaid expense $1100 , Credit Advertising expense $1100
5. Debit salary $4700, Credit Salary payable ( accrued salary) $4700
Explanation:
Depreciation = (cost - salvage value)/ useful life
it is said that the equipment has a useful life of 16 years at that date (31 Dec) and depreciation needs to be adjusted for the year. Even even that $192000 is Carrying amount it is not depreciable amount we still need to subtract the salvage value hence (192000- 24000)/16 = $10500 Depreciation
interest expense = 90000*8%*72/360 = $1440
The 72 days numerator is arrived at by adding the remaining 11 days in Oct plus full 30 days Nov plus full 31 days Dec. $1400 of interest has already been recorded so in adjusting to the total of $1440 we need to record $40 of interest.
december coupon = 2000*$30 =$60000
if the coupon admission book revenue for december is not included in the trial balance then its journal entry is debit bank $60000 credit unearned revenue $60000
How the $5,645 tax bill proration will be reflected on the settlement statement if a 30-day month is: Debit seller $2,822.5; Credit buyer $2,822.5.
<h3 /><h3>Tax bill proration</h3>
Based on the information given the tax bill proration will be reflected on the settlement statement will be:
(January 1 to June 30) =180 days
Hence:
Debit seller $2,822.5
Credit buyer $2,822.5
[($5,645 ÷ 360) ×180 days]
Therefore how the $5,645 tax bill proration will be reflected on the settlement statement if a 30-day month is: Debit seller $2,822.5; Credit buyer $2,822.5.
Learn more about Tax bill proration here: brainly.com/question/1775528
#SPJ1
Answer:
D
Explanation:
Partnerships often leave the owners liable to damages. As they aren’t difficult to set up in comparison, the answer most likely isn’t A. B also seems unlikely, as partnerships are often on a smaller scale. C doesn’t seem to apply.
Answer:
adverse event, incident
Explanation:
contingency planning is referred to as the planning for unexpected events. The main focus behind inducing Contingency planning is to restore the normal position without disrupting business operations.
An incident response plan is induced to take action against the incident while the Disaster recovery plan is used to restored business operation after incident occurred.
