Answer:
1. T-accounts:
Accounts Debit Credit
Accounts Receivable
Balance $4,200
Service Revenue 8,400
Cash 10,200
Accounts Debit Credit
Service Revenue
Accounts Receivable 8,400
Accounts Debit Credit
Supplies
Balance $400
Accounts Payable 2,300
Balance c/d $2,700
Accounts Debit Credit
Accounts Payable
Balance $3,500
Supplies 2,300
Cash $3,700
Balance c/d $2,100
Accounts Debit Credit
Cash Account
Balance $3,400
Accounts Receivable 10,200
Advertising $1,000
Accounts Payable 3,700
Deferred Revenue 1,100
Balance c/d $10,000
Accounts Debit Credit
Advertising Expense
Cash 1,000
Accounts Debit Credit
Accounts Payable
Cash 3,700
Accounts Debit Credit
Deferred Revenue
Balance $300
Cash 1,100
Balance c/d $1,400
Explanation:
a) Data:
General Entries:
Accounts Debit Credit
1. Accounts Receivable 8,400
Service Revenue 8,400
2. Supplies 2,300
Accounts Payable 2,300
3. Cash 10,200
Accounts Receivable 10,200
4. Advertising Expense 1,000
Cash 1,000
5. Accounts Payable 3,700
Cash 3,700
6. Cash 1,100
Deferred Revenue 1,100
b) The beginning balance of each account before the transactions is:
Cash, $3,400
Accounts Receivable, $4,200
Supplies, $400
Accounts Payable, $3,500
Deferred Revenue, $300
Federal tax dollars are collected from citizens to use for programs and infrastructure that is supposed to be used for public good, such as early childhood education, social security, roads, bridges, etc. Since the money is from citizens and for citizens, they should know how the money is spent so they can hold their elected representative accountable.
Answer:
The correct answer is (D) it has appreciated in terms of other currencies.
Explanation:
Currency appreciation is the increase in the value of a country's currency with respect to one or more foreign reference currencies, which normally occurs in a floating exchange system.
The reasons that can make a currency or currency appreciate are diverse and usually related to a high demand for it. For example, the consideration of a currency as a low risk of depreciation or a very high level of exports of a country (the demand for the currency to pay for exports will increase) are causes that give rise to the appreciation of a currency.
Answer:
$880.72
Explanation:
Bond price will be calculated by following formula
Bond Price = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F x ( 1 + r )^-n ]
Bond Price = $87 x [ ( 1 - ( 1 + 0.107 )^-10 ) / 0.107 ] + [ $1,000 x ( 1 + 0.107 )^-10 ]
Bond Price = $87 x [ ( 1 - ( 1.107 )^-10 ) / 0.107 ] + [ $1,000 x ( 1.107 )^-10 ]
Bond Price = $87 x [ ( 1 - ( 1.107 )^-10 ) / 0.107 ] + [ $1,000 x ( 1.107 )^-10 ]
Bond Price = $518.87 + $361.85
Bond Price = $880.72
Answer: $10,700
Explanation:
The Uncollectible Account Expense is the Accounting Adjustment made when a Receivable defaults on their debt and it can be calculated using the following formula,
= Uncollectible Amount written off + Closing Balance - Opening Balance.
Now the balances are as follows,
Opening Balance for Year 2 = 4,500
Closing Balance for Year 2 = 6,800
Uncollectible Amount written off during Year 2 = 8,400
Calculating therefore,
= 6,800 + 8,400 - 4,500
= $10,700
Allegheny will report $10,700 as Uncollectible Accounts Expense for Year 2.
