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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.

Download pdf
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John, an executive at a top investment firm, often gets into heated arguments with his boss over differences in work ethics. In
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Answer:

John´s relation with his boss.

Explanation:

Job dissatisfaction could impact employee and employer as it divert the focus from achieving common objective of organization.

Job dissatisfaction could lead to following:

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Major cause of dissatisfaction in the job are:

  • Underpaid.
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6 0
3 years ago
Silvia Company acquires a 30% interest in Small Company. The fair value of Small's inventory exceeds its carrying value by $100,
beks73 [17]

Answer:

The revenue that the investment in the company would increase by $100,000.

Explanation:

Though the International Accounting Standard IAS 2 Inventories says that the inventory must be recorded at lower of:

  • Cost
  • Net Realizable Value (Fair Value less Cost to Sell)

This means though the Net realizable value increases but the cost remains the lower. This means their must not be any changes made to inventory account.

The profit earned from the increase in inventory value will be reflected in the income which will increase the net worth of the investment. So the increase in investment revenue would be by $100,000.

7 0
2 years ago
Brunette Company is contemplating investing in a new piece of manufacturing machinery. The amount to be invested is $180,000. Th
diamong [38]

Answer:

No,  as the net present value comes in negative

Explanation:

As we know that

Net present value = Present value of cash inflows - Initial investment

where,

Present value os $163,000

And, the initial investment is $180,000

Now placing these values to the above formula

So, the net present value is

= $163,000 - $180,000

= -$17,000

Therefore the company should not accept the project as net present value is in negative that is -$17,000

6 0
3 years ago
Since companies do not know precisely how much demand will be placed on their computing resources in the​ future, an attractive
ratelena [41]
The answer to this question is Elastic
An elastic product is the type of product which demand will be influenced by movement in prices. For product like cloud computing, the product could be considered more durable because it willl always stay needed and will not go rotten, so the movement in prices shouldn't necessarily affect them that much.
3 0
3 years ago
Read 2 more answers
Barber and Atkins are partners in an accounting firm and share net income and loss equally. Barber's beginning partnership capit
Ivenika [448]

Answer:

The answer is $304,000

Explanation:

Barber's ending equity is:

Barber's beginning partnership capital balance for the current year plus share of partnership net income minus Barber's withdrawal

Barber's beginning partnership capital balance for the current is $314,000

Share of partnership net income

= $152,000 /2

= $76,000

Barber's withdrawal = $86,000

Therefore, Barber's ending equity is

$314,000 + $76,000 - $86,000

= $304,000

8 0
2 years ago
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