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liubo4ka [24]
3 years ago
5

Ckson's Programming paid its June of $500 cash. demonstrate how to use the accounting equation to record the transaction by comp

leting the following sentence.
Jackson would decrease _________ and increase ________ in the accounting equation.
Business
1 answer:
Dvinal [7]3 years ago
5 0

Answer:

Decrease <u>Cash </u>and Increase <u>Expense</u>

Explanation:

Jackson Programming paid $500 as rent for the month of June.

The accounting equation is is the basis of the double entry accounting principle system. It is an equation that stipulates that the balance sheet must remain balanced meaning every entry on the debit should be followed with a corresponding credit. It also means for every decrease there should be a corresponding increase.

In Jackson Programming;

A decrease is recorded in CASH because cash was paid, while an increase is recorded in EXPENSE because there is a corresponding increase in rent expenses.

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Sensitive data on a gfe mobile device does not need to be encrypted.
ser-zykov [4K]

ANSWER – TRUE

 

Sensitive data on a Government Furnished Equipment (GFE) mobile device does not need to be encrypted. This is because all Government Furnished Equipment (GFE) has encrypted hard drive and all data are automatically encrypted; even after an authorized personnel logs in (locally or remotely), the data remains encrypted.

4 0
3 years ago
Exercise 3-8 Applying Overhead; Journal Entries; Disposing of Underapplied or Overapplied Overhead [LO3-1, LO3-2, LO3-4] The fol
Yanka [14]

Answer:

1. a would be the Actual Manufacturing cost for the year

b would be the Manufacturing Overhead applied to the Work in Process

c is the Cost of Goods Manufactured in the year

d is the Cost of Goods Sold as shown in the same named account.

2.

DR Cost of Goods Sold                                             $83,328

CR Manufacturing Overhead                                                   $83,328

3.

DR Work in Process                                                   $‭5,472‬

      Finished Goods                                                   $‭13,152‬

      Cost of Goods sold                                             $‭64,704‬

CR Manufacturing Overhead                                                     $83,328

Working

Overhead is distributed as follows;

Work in process = 27,360/ 416,640 * 83,328 = $‭5,472‬

Finished Goods = 65,760/ 416,640 * 83,328 = $‭13,152‬

Cost of Goods sold = 323,520/416,640 * 83,328 = $‭64,704‬

8 0
3 years ago
21. What are the benefits that may accrue to a community from busi
Ket [755]

Major benefits of business in the local economy include a boost in employment and discretionary income in the community, tax income increases for local governments and a loyal customer base for businesses.

4 0
3 years ago
The Sisyphean Company has a bond outstanding with a face value of $ 5 comma 000 $5,000 that reaches maturity in 5 5 years. The b
lilavasa [31]

Answer: $5,219.59905

the price that the bond traded for would be closest to

$5,220 (rounded to whole number)

Explanation:

Using the price of bond formula below:

Price = C × 1 - [(1+r)^-n] /r + F/ (1+r)^n

C = coupon rate = 9.1% of face values ($5,000)

F= Face value(par value) = $5,000

n = number of years to maturity; 5

r = YTM (yield to maturity) = 8% = 0.08

Price = 455 × 1 - [(1+0.08)^-5]/0.08 + 5,000/(1+0.08)^5

Price = 455 × 1 - [(1.08)^-5]/0.08 + 5,000/(1.08)^5

Price= 455 × ( 1 - 0.680583197)/0.08 + 5,000 / 1.46932808

Price= 455 × (0.319416803)/0.08 + 3,402.91598

Price = 1,816.68307 + 3,402.91598

Price= $5,219.59905

≈$5,220 to the nearest whole number.

8 0
3 years ago
At the end of the year, Sheffield Co. has pretax financial income of $616,000. Included in the $616,000 is $78,400 interest inco
SVEN [57.7K]

Answer:

$173,820

Explanation:

pretax financial income $616,000

- interest income on municipal bonds ($78,400)

+ depreciation ($67,200 - $50,400) = $16,800

+ fine for dumping hazardous materials $25,000

taxable income = $579,400

income taxes payable = $579,400 x 30% = $173,820

Fines are not tax deductible, and since depreciation for tax purposes is lower than accounting depreciation, you must add them. But since municipal bonds are not taxable, they must be subtracted.

3 0
3 years ago
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