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Fed [463]
3 years ago
6

The December 31, 2021, unadjusted trial balance for Demon Deacons Corporation is presented below.

Business
1 answer:
Arlecino [84]3 years ago
8 0

Answer:

Date   Accounts Titles & Explanation  Debit  Credit

Dec 31    Rent Expense                          $2,040

               ($6,120 *2/6)

                      Prepaid Rent                       $2,040

Dec 31     Deferred Revenue                 $525

                      Service Revenue                           $525

Dec 31    Salaries Expense                     $700

                      Salaries Payable                           $700

Dec 31     Supplies Expense                  $2,390

                ($3,100 - $710)

                      Supplies                                       $2,390

       

              Demon Deacons Corporation

                 Adjusted Trial balance

                  December 31, 2021

         Accounts             Debit$        Credit$

Cash                               9,100

Account receivable       14,100

Prepaid rent                   4080

Supplies                          710

Deferred revenue                               1,575

Salaries payable                                  700

Common stock                                    11,000

Retain earnings                                   5,100

Service revenue                                 45,245

Salaries expenses          31,200

Rent expenses                2,040

Supplies expenses         <u>2,390</u>          <u>              </u>

Total                                $<u>63,620</u>     $<u>63,620</u>

Prepaid rent = 6,120 - 2,040 =  4080

Supplies = 3100 - 2390 = 710

Deferred revenue = 2,100 - 525 = 1575

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Answer:

c.$1,080,000 for A; $648,000 for B

Explanation:

For computing the total direct material purchase first we have to find out the production units which are shown below:

As we know that

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= 9,000 units + 75,000 units - 12,000 units

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Now the total direct material purchase for Material A and Material B is

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= 72,000 units × 3 lbs × $5 per lb

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For Material B

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Therefore, the third option is correct

4 0
3 years ago
Identify each statement as true or false. If false, indicate how to correct the statement.
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Answer:

1. True: Corporation management is both an advantage and a disadvantage of a corporation compared to a proprietorship or a partnership.

2. False: Limited liability of stockholders, government regulations, and additional taxes are the major disadvantages of a corporation. False because limited liability of Stockholders is considered as an advantage.

3. False: When a corporation is formed, organization costs are recorded as an asset. It is false because organization costs are recorded as expenses.

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Answer:

D. Help her distinguish between main topics and subtopics.

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For Alena, during her presentation, she would hope that a good outline would help her to distinguish between the main topic and subtopics.

8 0
3 years ago
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Answer:

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