1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Julli [10]
3 years ago
7

Use the following information for Exercises 8-9 below. (Static)[The following information applies to the questions displayed bel

ow.]
a. M&R Company provided $2,000 in services to customers in December, which are not yet recorded. Those customers are expected to pay the company in January following the company’s year-end.
b. Wage expenses of $1,000 have been incurred but are not paid as of December 31.
c. M&R Company has a $5,000 bank loan and has incurred (but not recorded) 8% interest expense of $400 for the year ended December 31. The company will pay the $400 interest in cash on January 2 following the company’s year-end.
d. M&R Company hired a firm that provided lawn services during December for $500.
e. M&R will pay for December lawn services on January 15 following the company’s year-end.M&R Company has earned $200 in interest revenue from investments for the year ended December 31. The interest revenue will be received on January 15 following the company’s year-end.
f. Salary expenses of $900 have been earned by supervisors but not paid as of December 31.
Business
1 answer:
Ipatiy [6.2K]3 years ago
6 0

Answer:

The requirements are missing, so I looked for similar questions. You should make any necessary adjusting entries on the accounting equation. Since there is not enough room here, I used an excel spreadsheet.

Download pdf
You might be interested in
Dreyfus points a gun at Eton, threatening to shoot him if he does not steal from his employer, Freddy’s Gas & Shop store, an
Anastasy [175]

Answer:

The answer is Duress.

Explanation:

Duress is a term in law used to justify a wrong action but excluding murder cases.

For a defendant to successfully prove he or she acted under duress, the following must be satisfied:

1. The defendant is in an immediate danger that could lead to death. For example, if Dreyfus shoots Eton by refusing, he can shoot Eton to death.

2. There is a believe that the defendant will be will be hurt

3. There is no option to avoid the harm or being hurt other than to succumb to doing the illegal action.

7 0
3 years ago
Gloria just started working for GlenMack. As part of her signing bonus, she received 20 shares of GlenMack stock. Gloria is exci
EastWind [94]

Answer:

Public Company

Explanation:

In the given case, since it is mentioned that Gloria working for GlenMack now as a part of the signing bonus she received twenty shares from the stock of GlenMack now she is excited to contribute to the company and also wants to track the shares value on the new york stock exchange so here the Glenmust must be public company as the stock are listed on the stock exchange

So the same is to be relevant

3 0
3 years ago
Karin's company is selecting a manager to expand operations in Japan. Karin's boss says the new manager must display high cultur
mario62 [17]

Answer:

B) Remind her boss that she studied Japanese in high school

Explanation:

It would be the best way to show that she knows about the culture and she has experience. I hope that helps!

3 0
4 years ago
The unadjusted trial balance at year-end for a company that uses the percent of receivables method to determine its bad debts ex
Gnom [1K]

Answer:

The adjusting entry which is to be recorded is shown below:

Explanation:

The adjusting entry which is to be recorded is as:

Bad Debt Expense A/c..................................... Dr $14,740

         Allowance for Doubtful Accounts A/c...............Cr $14,740

As the company records the bad debt expense at the end of the present year

Working Note:

As the company used the percent of receivables sales

Amount = Accounts receivables × Percentage of ending receivable

= $446,000 × 3.0%

= $13,380

Bad debt expense amount = Amount - Debit balance of allowance for doubtful accounts

= $13,380 + $1,360

= $14,740

5 0
3 years ago
The owners of Carpo Inc., a watch company, also own a steel company and a leather goods manufacturing company. This relieves the
Temka [501]

Answer: cost advantage  

 

Explanation: In simple words, cost advantage refers to the advantage earned by the company due to their ability to produce a product at lower cost than others.

In the given case, Carpo inc,. is also the owner of steel and leather companies thus they can make watches at a lower cost as they do not have to bear to profit margin that the external supplier will be getting from them.    

Hence from the above we can conclude that the correct option is D.

   

3 0
3 years ago
Other questions:
  • The phantom corporation started 4,800 units during february. phantom started the month with 700 units in process (40% complete)
    10·1 answer
  • Roger has a good amount on his plate. He works full time, he also has a part-time job, and has a new consulting company in respo
    15·2 answers
  • Quizlet Other things the same, when the price level rises more than expected, some firms will havea.higher than desired prices,
    10·1 answer
  • Ashton Corporation is headquartered in Pennsylvania and has a state income tax base there of $549,000. Of this amount, $77,000 w
    10·1 answer
  • Suppose your salary in 2016 is $30,000. Assuming an annual inflation rate of 3%, what salary do you need to earn in 2022 in orde
    9·1 answer
  • Cemptex Corporation prepares its statement of cash flows using the indirect method to report operating activities. Net income fo
    11·1 answer
  • Which of the following is NOT example of Capital used to produce goods?
    13·1 answer
  • Marcelino Co.'s March 31 inventory of raw materials is $81,000. Raw materials purchases in April are $510,000, and factory payro
    11·1 answer
  • 3.
    11·1 answer
  • What effect did the 2008 economic downturn in the united states have on the global economy?
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!