Answer:
The answer is $126,000
Explanation:
Please find the attached file for the calculation.
Answer:
1. T-accounts:
Accounts Debit Credit
Accounts Receivable
Balance $4,200
Service Revenue 8,400
Cash 10,200
Accounts Debit Credit
Service Revenue
Accounts Receivable 8,400
Accounts Debit Credit
Supplies
Balance $400
Accounts Payable 2,300
Balance c/d $2,700
Accounts Debit Credit
Accounts Payable
Balance $3,500
Supplies 2,300
Cash $3,700
Balance c/d $2,100
Accounts Debit Credit
Cash Account
Balance $3,400
Accounts Receivable 10,200
Advertising $1,000
Accounts Payable 3,700
Deferred Revenue 1,100
Balance c/d $10,000
Accounts Debit Credit
Advertising Expense
Cash 1,000
Accounts Debit Credit
Accounts Payable
Cash 3,700
Accounts Debit Credit
Deferred Revenue
Balance $300
Cash 1,100
Balance c/d $1,400
Explanation:
a) Data:
General Entries:
Accounts Debit Credit
1. Accounts Receivable 8,400
Service Revenue 8,400
2. Supplies 2,300
Accounts Payable 2,300
3. Cash 10,200
Accounts Receivable 10,200
4. Advertising Expense 1,000
Cash 1,000
5. Accounts Payable 3,700
Cash 3,700
6. Cash 1,100
Deferred Revenue 1,100
b) The beginning balance of each account before the transactions is:
Cash, $3,400
Accounts Receivable, $4,200
Supplies, $400
Accounts Payable, $3,500
Deferred Revenue, $300
<span>Choice (d) is the most correct. When an auditor looks at the risks involved with possible misstatements (control risk and inherent risk), it helps him or her understand the detection risk that could stem from using the wrong procedures or making the wrong decisions during the audit.</span>
<span>Supplies used in the period is computed by taking
the difference between the balance of the Supplies account and the cost of supplies
on hand. The sum of supplies that aren't used as of the balance sheet
date must be stated in the asset account Supplies or Supplies
on Hand. The supplies that have been used during the accounting period must be stated
in the income statement account Supplies
Expense. Essentially, supplies are assets until they are used. When they
are used, they become an expenditure.</span>
<span />
The answer is down sloping, perfectly elastic. The demand curve for a firm in a splendidly focused market shifts altogether from that of the whole market.The advertise request bend inclines to descend, while the impeccably aggressive Association's request bend is a flat line equivalent to the harmony cost of the whole market.
