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dimulka [17.4K]
3 years ago
6

A security business invoices its 30,800 customers on the first day of each month, with each of two computers doing half the job.

One invoicing machine produces at the rate of 7,700 per hour, and the other at the rate of 6,800 per hour. When the first computer finishes its run, how many invoices did the second computer still need to produce?A. 1525
B. 1200
C. 1750
D. 1800
E. 1400
Business
1 answer:
defon3 years ago
3 0

Answer:

Option (D) is correct.

Explanation:

Given that,

Total invoices = 30,800

Number of computers = 2

Rate at which invoices produces by first computer = 7,700 per hour

Rate at which invoices produces by second computer = 6,800 per hour

Number of invoices produces by each computer:

= Total invoices ÷ Number of computers

= 30,800 ÷ 2

= 15,400

Now, the time taken by the first computer to reach out its goal of 15,400:

= Number of invoices produces by First computer ÷ Rate of producing invoices

= 15,400 ÷ 7,700

= 2 hours

The total invoices produced by the second computer in 2 hours:

= Rate at which it produces invoices × 2 hours

= 6,800 per hour × 2 hours

= 13,600

So, the number of invoices still need to produce by the second computer is as follows:

= Total invoices produces by second computer - Total invoices produces in 2 hours

= 15,400 - 13,600

= 1,800

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The following unadjusted trial balance contains the accounts and balances of Dylan Delivery Company as of December 31, 2010, its
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Answer:

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1. 10-Column Worksheet (see attachment)

2. Closing Journal Entries at December 31, 2010:

Date  Description                        Debit         Credit  

Depreciation expense - Truck    80,000  

Salaries Expense                         111,000  

Office supplies expense             18,000  

Repairs expense- trucks             15,000

Income Summary                                          224,000

To close expenses to the Income Summary.

Date  Description                        Debit         Credit

Income Summary                      263,000

Delivery fees                                                263,000

To close revenue to the Income Summary.

Date  Description                       Debit         Credit

Net Income                                39,000

Retained Earnings                                        39,000

To close the net income to retained earnings.

2b) Capital to be reported on balance sheet as at December 31, 2010:

S. Dylan Capital                 $307,000

Retained Earnings                39,000

S. Dylan withdrawals           (34,000)

Net Capital                        $312,000

Explanation:

a) A 10-column worksheet is a tool used by accountants to close the temporary accounts, after necessary adjustments, and then extract a balance sheet.  It comprises two columns (debit and credit) for each of the following: Unadjusted Trial Balance, Adjusting Entries, Adjusted Trial Balance, Income Statement, and Balance Sheet.

b) A closing entry is a journal entry that is made at the end of an accounting period to transfer balances from a temporary account to a permanent account.  The four basic steps in the closing process are: Closing the revenue accounts—transferring the credit balances in the revenue accounts to a clearing account called Income Summary. Closing the expense accounts—transferring the debit balances in the expense accounts to a clearing account called Income Summary.  Extracting a balance between the revenue accounts and the expense accounts, called the net income or loss.  Closing the net income or loss to the Retained Earnings.

Download xlsx
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