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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.

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In order to undertake problem solving, the first step must be:________.
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It’s definitely not A in my opinion, i believe it is b
6 0
3 years ago
Samuel Jenkins made two investments; the first was 13 months ago and the second was two months ago. He just sold both investment
tatiyna

Answer:

short: 11,000 -->  1,320 income tax

long:  11,000 --> zero tax income

Explanation:

The capital gains are clasiffied as long.term gain once they were held for period of time of more than a year during the current holder.

Thus, the 13 month ago investment will be considered long term

while the other short term

the rate for short term is 12% at Samuel income bracket

while the long.term capital gain will not be taxed,

short term:

11,000 x 12% = 1.320‬

7 0
4 years ago
Use the Washington Post article Why We've Been Hugely Underestimating the Overfishing of the Oceans to answer the question. Whic
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Answer & Explanation:

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4 0
4 years ago
Georgia is considering between two health insurance policies. one includes a deductible of $600 and the other includes a coinsur
baherus [9]
Since the policy with the coinsurance has a <span>coinsurance value of 20%, then, Georgia will be required to pay 20% from the price of the bill.

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6 0
4 years ago
Johnson Corp. has two divisions, Division A and Division B. Division B has asked Division A to supply it with 5,000 units of par
Vesnalui [34]

Answer:

1. $13.50

2. Decrease in Profit : $ 22,500

Explanation:

<em>Minimum Transfer Price = Variable Costs - Internal Savings + Opportunity Cost</em>

       = $12.00 + $2.00 - $2.00 + 1,000/4,000 × ($20.00 - ($12.00 + $2.00))

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<em>Maximum Transfer Price can never be more than what the receiving division (Division B can purchase externally)</em>

Maximum Transfer Price = $18.00

Division B will incur more costs when it accepts Baker's offer and declines to transfer any units from Division A. Hence decrease in Profit)

Decrease in Profit = 5,000 units × ($18.00 - $13.50)

                              = $ 22,500

7 0
4 years ago
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