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stepan [7]
3 years ago
10

A master budget​ ________. A. is only prepared for manufacturers as they are the only type of company with material purchases an

d work−in−process accounts. B. improves​ companies' market capitalization and evolves from both the investing and financing decisions C. is another name given to the financial budget D. is the initial plan of what the company intends to accomplish in the period and evolves from both the operating and financing decisions
Business
1 answer:
Anon25 [30]3 years ago
5 0

Answer:

D. is the initial plan of what the company intends to accomplish in the period and evolves from both the operating and financing decisions.

Explanation:

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Record adjusting journal entries for each of the following for year ended December 31. Assume no other adjusting entries are mad
elena-s [515]

Answer:

1. Dr Account receivable $20,500

Cr Service revenue $20,500

2. Dr Interest receivable $450

Cr Interest revenue $450

3. Dr Account receivable $1,420

Cr Service revenue $1,420

Explanation:

Preparation of the adjusting journal entries for each of the following for year ended December 31.

Based on the information given the adjusting journal entries for each of the following for year ended December 31 will be :

1. Dr Account receivable $20,500

Cr Service revenue $20,500

(Being to record Accounts Receivable)

2. Dr Interest receivable $450

Cr Interest revenue $450

(Being to record Interest receivable)

3. Dr Account receivable $1,420

Cr Service revenue $1,420

(Being to record Accounts Receivable)

5 0
3 years ago
sarah Jones wants to deposit $2,000 per year into an account earning 4 percent for the next 3 years, so she can purchase a used
andre [41]

Answer:

Compounding formula would be used here which is as under:

Future Value = Present value * (1+r)^n

FV = (PV is $2000) *  ( 1 + 4%)^ 3 number of years

Remember that r is the return that is 4% that Sarah Jones will receive.

So

FV = $2250

So this is the amount that she will receive after three years. I would recommend her to invest in ordinary shares (take higher risk for higher return) so that she is able to buy a better car.

5 0
3 years ago
On May 1, 2021, Meta Computer, Inc., enters into a contract to sell 4,100 units of Comfort Office Keyboard to one of its clients
Harrizon [31]

Answer:

Journal Entry

Explanation:

1. There are two obligations in this contract

a. keyboard

b. Customer option for future discount

2. Cash Dr,                                                     $69,700

        To Deferred revenue - keyboard                $66,215

        To Deferred revenue - discount coupon    $3,485

(Being cash is recorded)

Working note:-

Keyboards = 4,100 × $19

= $77,900

Option = $41,000 × (0.25 - 0.05) × 0.50

= $4,100

Allocation

For keyboard

= $77,900 ÷ ($77,900 + 4,100)

= 0.95

Deferred revenue Keyboard = $69,700 × 0.95

= $66,215

Option = 4,100 ÷ ($77,900 + 4,100)

= 0.05

Deferred revenue - discount coupon = $69,700 × 0.05

= $3,485

3. Cash Dr,                                                  $69,700

       To Deferred revenue Keyboard               $69,700

(Being cash is recorded)

4 0
3 years ago
Lucinda is a self-employed veterinarian in 2019. Her Schedule C net earnings are $86,000 for the year. Calculate the total amoun
trapecia [35]

Answer:

$79,421

$12,151.413

Step by Step Explanation:

The self-employment taxable income is 92.35% of net earnings. While the tax rate for self-employment tax liability is 15.3% for year 2019

Schedule C net earnings: $86,000

Self-employment taxable income rate: 92.35%

Self-employment taxable income= 92.35%×86,000

=$79,421

Self-employment taxable income: $79,421

Self-employment tax rate: 15.3%

self-employment tax liability=

Self-employment taxable income×Self-employment tax rate

$79,421×15.3% =$ 12,151.413

5 0
3 years ago
Partner A has a smaller capital balance than Partner L. Partner A, however, has a higher profit-and-loss-sharing percentage than
mixer [17]

Answer:

(C) Partner A will have a smaller loss absorption potential than L

6 0
3 years ago
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