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3 years ago

Consider the following situations for Shocker:

Business

1 answer:

Delicious77 [7]3 years ago

5 0

Answer:

Cash $4,500 (debit)

Deferred Revenue $4,500 (credit)

Prepaid Advertising $2,700 (debit)

Cash $2,700 (credit)

Salaries Expense $8,000 (debit)

Salaries Accrued $8,000 (credit)

Cash $70,000 (debit)

Note Payable $70,000 (credit)

Interest Expense $2,100 (debit)

Note Payable $2,100 (credit)

Explanation:

Recognize Cash and Deferred Revenue

Recognize Asset - Prepaid Advertising and De-recognize Cash

Recognize Salaries Expense and Recognize Salaries Accrued Liability

Recognize Cash Asset and Recognize Liability - Note Payable

Recognize Interest income accrued on the Note Payable during September to December.

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Joan sells new cars at a local dealership. she receives 15% commission on profit each car is sold for . last week she sold 9 car

Serggg [28]

Calculation of Commission earned:

We are given that Joan sells new cars at a local dealership and she receives a 15% commission on profit.

So we can say that :

Commission earned = 15% * Total profit

Last week she sold 9 cars for the total of $10,870 dealer profit

Hence Commission earned shall be calculated as follows:

Commission earned = 15% * Total profit

Commission earned = 15% * 10870 = $1,630.50

Hence, the Commission earned by Joan is <u>$1,630.50</u>

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3 years ago

What are examples of professional organizations? Select four options.

hram777 [196]

1. American institute of architects

2. American medical association

3. Screen actors guild

4. American society of mechanical engineers

you are very welcome!

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3 years ago

Read 2 more answers

The manufacturer of Brand A automobile tires claims that its tire can save 120 gallons of fuel over 60 comma 000 miles of drivi

ivolga24 [154]

Answer:

By choosing tire A, the consumer will save $0.006 USD ($0.6 cents) per mile.

Information:

Saving: 120 gl over 60,000 miles
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Explanation:

Total saving in 60,000 miles = 120gl * $3/gl = $360

Total saving in 1 mile = $360/60,000 = $0,006

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3 years ago

A rotary engine powers a vertical takeoff and landing (VTOL) personal aircraft known as the Moller Skycar M400. It is a flying c

makvit [3.9K]

To solve this problem, we first make a chart that shows the spending pattern of $90 million over 23 years.

$90 million at 11% = [math]\frac{90 \times 1.11^{23}}{100}=903.478[/math]. The future worth at the end of the 23-year is approximately $903,478.

Since the problem does not provide a standard amount of time that people usually use to measure interest rates, we can infer that this rate should be 10% per year.

Using 10% per year instead of 11%:

$90 million at 10% = [math]\frac{90 \times 1.10^{23}}{100}=897.507[/math]. The future worth at the end of the 23-year is approximately $897,507.

Since the total amount that was spent on development over a period of 23 years is $90 million and the answer in our problem has to be in millions, we have to adjust the amount.

$90 million x 100 = $9 billion. The future worth at the end of the 23-year is approximately 9 billion dollars.

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3 years ago

If firms in a competitive industry begin to earn profit in the short run, new firms will enter. This will shift the industry a.

xxTIMURxx [149]

Answer:

c. supply curve to the right, meaning market price will fall.

Explanation:

If firms in a competitive market start to make a large profit, more firms will enter that market because they will also want a share of it. As more firms enter the market, total quantity supplied will increase, shifting the supply curve to the right and lowering the equilibrium price.

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4 years ago