Answer:
Explanation:
S/No Date Transaction Dr($) Cr($)
1 Oct.1 Rent Expense 3,600
Cash 3,600
2. Oct.3 Advert. Expenses 1,200
Cash 1,200
3. Oct.5 Supplies 750
Cash 750
4 Oct.6 Office equipment 8000
Accounts Payable 8,000
5 Oct.10 Cash 1 4,800
Accounts receivable 14,800
6 Oct.15 Accounts payable 7,110
Cash 7,110
7. Oct.27 Miscellaneous 400
Cash 400
8 Oct.30 Utilities Expenses 250
Cash 250
9 Oct 31 Accounts receivable 33,100
Fees earned 33,100
10 Oct.31 Utility Expense 1,050
Cash 1050
11 Oct.31 Drawings 2,500
Cash 2,500
Answer:
Marginal thinking
Explanation:
The economic foundation of marginal thinking requires decision-makers to evaluate whether the benefit of one more unit of something is greater than its cost. And according to this principle, Marie´s benefits of the first three bananas is higher than its cost, but the fourth banana will provide less benefit than the third and this is less than it cost.
Answer:
$15,000
Explanation:
Closing retained earnings is the accumulated value of an entity`s profit reserve from its earnings from both current and past accounting periods.Closing retained earnings is calculated by deducting dividend paid from earnings after tax of the current year and adding the balance to opening retained earnings.
= Opening retained earnings + (Earnings after tax - Dividend paid)
Based on the information supplied, the closing retained earnings will be:
$
Service Revenue 10,000
Total Expenses (6,000)
Operating profit 4,000
Dividend <u> (1,000)</u>
Retained Earnings 3,000
Retained Earnings b/f <u> 12,000</u>
Closing Retained Earnings <u> 15,000</u>
Note: No information in regard of tax, so the operating profit is used as profit after tax.
Answer:
Social Security = $186.00
Medicare = $43.50
Explanation:
Since the given rate for Social security is 6.2%, the first week deduction is 6.2% of gross weekly salary, which is $3,000. Hence, the first week deduction for Social Security is given by
Social Security Deduction = 6.2% of $3,000
= 0.062 × 3,000 (Change 6.2% to decimal)
= $186.00
Similarly, since 1.43% is the given rate for medicare, the first week deduction is 1.43% of the gross weekly salary, which is $3,000. Thus, the first week deduction for medicare is given by
Medicare Deduction = 1.43% of $3,000
= 0.0143 × 3,000
= $43.50
Answer: Yes. Robert is is an investment adviser representative
Explanation:
Based on the scenario given in the question, we can deduce that Robert is an investment adviser representative. An Investment Adviser Representative is someone who is an employee for an investment advisory company and the person provides advice that are related to investments activities for the company.
In this case, Robert is performing the duties of an investment adviser representative for JJ financial planning.
