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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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Luxury items in a budget come from : D. Saving

People tend to buy luxury items after the other crucial needs are met, which means that it will be most likely that the budget came from the income that is intended for saving

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3 years ago
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Answer:

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In this case in expanding a product line or launching a new project incremental cash flow could be.

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6 0
3 years ago
Healthy Living, a diet magazine, collected $240,000 in subscription revenue on May 31. Each subscriber will receive an issue of
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