Answer:
1. Accounts Payable will flow to the balance sheet because it is a liability account.
2. Accounts Receivable will flow to the balance sheet because it is an asset account.
3. Cash will flow in the balance sheet as it is an asset for the company.
4. Eddy Rosewood, Drawing will flow into Statement of owner's equity
5. Fees Earned will flow in the Income Statement
6. Supplies belong in the income statement as it is an expense account.
7. Unearned rent will flow in the balance sheet as it is a liability account.
8. Utility Expense will flow in the balance sheet as it is an expense account.
9. Wages Expense will flow in the income statement as it is an expense account.
10. Wages payable will flow in the balance sheet as it is a liability account.
Answer:
The answer is option A
Explanation:
Amount($) Activity cost pools Allocated amount($)
Wages and salaries 340,000 30% 102,000
Depreciation 160,000 15 % 24,000
Occupancy 220,000 15 % 33,000
Total 720,000 159,000
Cost driver (hours) 30,000 machine hours
Rate per machine hr 159,000 ÷ 30,000
=$ 5.30
Answer:
$5,776
Explanation:
the journal entry to record the issuance of the bonds:
January 1, 202x
Dr Cash 73,720
Dr Discount on bonds payable 2,280
Cr Bonds payable 76,000
coupon = $76,000 x 7% x 1/2 = $2,660
discount on bonds payable per coupon = $2,280 / 10 = $228
Journal entry to record coupon payment:
June 30 and December 31, 202x
Dr Interest expense 2,888 x 2 = 5,776
Cr Cash 2,660 x 2 = 5,320
Cr Discount on bonds payable 228 x 2 = 456
The increase in sales of a company can be attributed to the sales promotion activities in way that the better they are at promoting their products, the better is their chances of actually selling them. They can do "best employer of the month" to relate the personal selling effort by an employee in relation to the sales of the company.
