Answer:
1. At August 31, Roddick owed his employees $1,900 in wages that will be paid on September 1.
Dr Wages expense 1,900
Cr Wages payable 1,900
2. At the end of the month, he had not yet received the month’s utility bill. Based on past experience, he estimated the bill would be approximately $600.
No journal entry necessary, you cannot make records based on approximate expenses. You should make the adjusting entry after the bill is received, not before.
3. On August 1, Roddick borrowed $30,000 from a local bank on a 15-year mortgage. The annual interest rate is 8%.
Dr Interest expense 200
Cr Interest payable 200
4. A telephone bill in the amount of $117 covering August charges is unpaid at August 31.
Dr Telephone expense 117
Cr Telephone payable 117
Answer:
$747,000
Explanation:
Calculation to determine What amount of inventory should Arendelle report on its balance sheet as of December 31
December 31 Inventory $667,000
Add Second shipment f.o.b. shipping point of $80,000
December 31 Inventory $747,000
($667,000+$80,000)
Therefore What amount of inventory should Arendelle report on its balance sheet as of December 31 is $747,000
Changes in the supply or demand also changes the equilibrium price that is present. Increasing the demand would lead to an increase in equilibrium price. However, increasing the supply would lead to a decrease in price. So, to increase the price supply should be less.
Answer:
Explanation:
Preparation of the retained statement of earnings for the year ended 31 December 2018 is discussed below:
Spahr, Inc.
Retained Earning statement
For the year ended December 31, 2018
Beginning retained earning balance $125,000
Add: Net income earned $90,000
Less: Cash Dividend paid -$65,000
Ending retained earning balance $150,000
Individual state laws do indeed vary so there is a need to rely on state coporate laws so this is True.
<h3>Why should state corporate laws be used?</h3><h3 />
State corporate laws tend to differ because different states have separate cultures and overriding norms.
As such, state corporate laws should be the main laws abided by instead of the model corporation laws at a federal level.
Find out more on state corporate laws at brainly.com/question/12933980.
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