Answer: See explanation
Explanation:
It should be noted that adjusting entries are normally made at the conclusion of an accounting period so that the income and expenditure will be allocated to the particular period when they took place.
Prepaid rent is calculated as:
= 2660 × (36-5)/36
= 2660 × 31/36
= 2290.56
Unearned revenue:
= 8000 × 11/48
= 1833.33
Accrued interest:
= 3400 × 12% × 8/12
= 3400 × 0.12 × 8/12
= 272
Salary expense:
= 2500 × 4/5
= 2000
The adjusting entry has been attached.
Explanation:
Pre-Diploma in Civil Engineering (Civil Sub-Overseer) program is designed to prepare competent general civil sub-overseers equipped with knowledge, skills and attitude especially, in the area construction Engineering & Technology of building construction, water supply, irrigation and road and trail bridges sectors.
They can provide services in the growing infrastructure development industries (civil construction companies and consulting firms) government institutions (centre and local level), local as well as international non-governmental organizations or can start their own business in the country as well as abroad.
Answer:
Results are below.
Explanation:
<u>To calculate the fixed cost under the high-low method, we need to use the following formulas:</u>
Variable cost per unit= (Highest activity cost - Lowest activity cost)/ (Highest activity units - Lowest activity units)
Variable cost per unit= (110,000 - 87,500) / (4,000 - 2,500)
Variable cost per unit= $15
Fixed costs= Highest activity cost - (Variable cost per unit * HAU)
Fixed costs= 110,000 - (15*4,000)
Fixed costs= $50,000
Fixed costs= LAC - (Variable cost per unit* LAU)
Fixed costs= 87,500 - (2,500*15)
Fixed costs= $50,000
Answer:
(b) purchase contract with no contingencies.