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kolezko [41]
3 years ago
9

n May 1, 2009 Giltus Advertising Company received $1,500 from Julie Bee for advertising services to be completed April 30, 2010.

The Cash receipt was recorded as unearned fees and at December 31, 2009, $1,000 of the fees had been earned. The adjusting entry on December 31 Year 1 should include:Select one:a. A debit to Unearned Fees for $500.b. A credit to Unearned Fees for $500.c. A credit to Earned Fees for $1,000.d. A debit to Earned Fees for $1,000.e. A debit to Earned Fees for $500.
Business
1 answer:
Alenkinab [10]3 years ago
8 0

Answer:

c. A credit to Earned Fees for $1,000.

Explanation:

As for the information provided, we know

Unearned income is an income account, and therefore, will be credited at the time of recording.

Further, it is told that as on 31 December, 2009 out of the total unearned income of $1,500, $1,000 is earned.

Since it is earned it has to be accounted in current year, for this earned income will be credited and unearned income will be reversed for the amount of earned income that is for $1,000.

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An investment should be undertaken A) if the present value of the expected income stream associated with the investment is great
Alona [7]

Answer:

A) if the present value of the expected income stream associated with the investment is greater than the full cost of the investment project.

Explanation:

It is when the present value of the expected income stream associated with the investment is greater than the full cost of the investment project that the project is profitable. Most investments are undertaken with the aim of making profits.

The net present value can be used to determine if the present value of the expected income stream associated with the investment would be greater than the full cost of the investment project.

3 0
3 years ago
Over a four-year period, LaKeisha Thompson purchased shares in the Oakmark I Fund. Using the following information, answer the q
ArbitrLikvidat [17]

Answer:

LaKeisha Thompson

a. At the end of four years, the total amount invested is:

= $6,000

b. At the end of four years, the total number of shares purchased is:

= 166.81

c. At the end of four years, the average cost for each share is:

= $35.97.

Explanation:

a) Data and Calculations:

Investments in Oakmark I Fund:

Year            Investment        Price      Number

                      Amount     per share    of share

Feb 2008        $1,500           $40        37.50

Feb 2009          1,500             30        50

Feb 2010           1,500             34        43.60

Feb 2011            1,500             42        35.71

Total               $6,000                        166.81

Average cost per share = $35.97 ($6,000/166.81)

7 0
3 years ago
Tree City reported a $1,500 net increase in fund balance for governmental funds for the current year. During the year, Tree purc
DIA [1.3K]

Answer

The correct answer is c. $ 7,500.

Explanation:

The reconciliation of the change in fund balance in governmental fund financial statements to the change in net position for governmental activities in the government-wide financials is computed using the GOES BARE mnemonic. The fact pattern only describes measurement focus (GOES) issues computed as follows:

G Change in Governmental Fund Balance     $ 1,500

O Other Financing Sources                                   0

E Expenditure - Capital Outlay                           9,000

(net of depreciation)                                         (3,000)

S Internal Service Fund Net Income                   0

Change in Net Position in government

-wide financial statements                               $ 7,500

5 0
3 years ago
ABC corporation announces a 5:4 stock split to holders of record on Wednesday, November 15th, payable on November 30th. NASDAQ h
AfilCa [17]

Answer:

December 1st

Explanation:

If an investor purchases ABC stock before the ex-date, he/she is entitled to the additional shares that will be assigned on the ex-date. But if an investor purchases the stock at the ex-date or after, he/she will not be entitled to any additional shares, since the ex-date is the first day the stock will not trade with a due bill.

7 0
3 years ago
Wee Be Irish produces authentic Irish gifts and clothing. Wee Be Irish uses a good deal of television advertising and sales prom
gregori [183]

Answer:  pull marketing strategy

Explanation: In simple words, pull marketing strategy refers to the strategy in which the producer tries to create demand for the product by using promotional tools. Under this strategy, the firm focus to make customer seek a product unlike push strategy in which the firm focuses on pushing the product to people.

In the given case, WEE be is using TV medium to promote its product hence they are using pull marketing strategy.

3 0
3 years ago
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