Answer:
1. Prepaid insurance (Dr.) $6,300
Cash (Cr.) $6,300
2. Cash (Dr.) $15,300
Unearned Income (Cr.) $15,300
3. Purchases (Dr.) $1,750
Accounts payable (Cr.) $1,750
Cost of Goods Sold (Dr.) $1,620
Ending Inventory (Dr.) $130
Purchases (Cr.) $1,750
4. Prepaid office rent (Dr.) $6,300
Cash (Cr.) $6,300
Explanation:
The adjusting entry is a journal entry recorded at end of accounting period to adjust events or transactions to comply with the accrual concept.
The closing entries are journal entries required to close a transaction or event in the period. The purpose is to follow matching concept of accounting.
Answer:
1. Communication Services.
2. File Transfer.
3. Web Services.
4. Directory Service.
5. Information Retrieval Services.
6. Automatic Network Address Configuration.
Explanation:
I hope it helps! Have a great day!
bren~
Answer:
Option 1 and 2
Explanation:
Complete Question
Which scenarios can be considered effects of Sole Sister Shoe Store choosing to sell dress shoes over sneakers?
CHECK ALL THAT APPLY.
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High school athletes stop shopping there.
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The inventory of sports socks goes unsold.
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Publicity for the store declines.
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Profits decline because dress shoes cost less than sneakers
Solution
Sole Sister Shoe Store chooses to sell dress shoes over sneakers because the customers of sneakers stopped shopping from the store. Sneakers are mainly purchased by the high school athletes over any other footwear. Now, they stopped shopping and hence Sole Sister Shoe Store started selling dress shoes
Also, sports socks' inventory is unsold indicating the reduction in sale of sneakers and hence the Sole Sister Shoe Store started selling dress shoes
Answer:
(a) 10.4%; 16.73%
(b) 6.33%
Explanation:
Given that,
Wages paid to the workers in 2016 = $25 per hour
Price level in 2016 = 241
Wages paid to the workers in 2017 = $41 per hour
Price level in 2017 = 245
Real wage rate in 2016:
= (Nominal wages ÷ Price level) × 100
= ($25 ÷ 241) × 100
= 0.104 × 100
= 10.4%
Real wage rate in 2017:
= (Nominal wages ÷ Price level) × 100
= ($41 ÷ 245) × 100
= 0.1673 × 100
= 16.73%
Therefore, the real wage increase received by these workers in 2017 is calculated as follows:
= Real wage rate in 2017 - Real wage rate in 2016
= 16.73% - 10.4%
= 6.33%
Hence, these workers do get a raise between the two years.
Answer:
The answer is False
Explanation:
Since the 70 percent of preferred dividends received by a company is excluded from taxable income, the component cost of equity for a corporation which pays half of its revenue out as a common dividends and half as preferred dividends should ,technically be.
