Answer:
Adjusting journal entries
a) 1 . Debit Depreciation $10500 Credit Accumulated depreciation $10500.
2 . Debit interest expense $40 , Credit Bank $40
3 . Debit Admission revenue $ 60000, Credit Unearned admission revenue $60000
4. Debit Prepaid expense $1100 , Credit Advertising expense $1100
5. Debit salary $4700, Credit Salary payable ( accrued salary) $4700
Explanation:
Depreciation = (cost - salvage value)/ useful life
it is said that the equipment has a useful life of 16 years at that date (31 Dec) and depreciation needs to be adjusted for the year. Even even that $192000 is Carrying amount it is not depreciable amount we still need to subtract the salvage value hence (192000- 24000)/16 = $10500 Depreciation
interest expense = 90000*8%*72/360 = $1440
The 72 days numerator is arrived at by adding the remaining 11 days in Oct plus full 30 days Nov plus full 31 days Dec. $1400 of interest has already been recorded so in adjusting to the total of $1440 we need to record $40 of interest.
december coupon = 2000*$30 =$60000
if the coupon admission book revenue for december is not included in the trial balance then its journal entry is debit bank $60000 credit unearned revenue $60000
Answer:
c. The firm is earning zero economic profit and should continue to operate.
Explanation:
This is because at that point firm has not earned any profit or facing a loss.
Answer: (C) Marketing information system
Explanation:
The marketing information system is one of the important tool that helps the managers in an organization for making various types of desc ions regarding the development and the promotion of the product.
The marketing information system is basically define as the structure of the method in an organization that helps in the analysis of the data and then represent the information more efficiently.
The information related to the marketing is formally analyzed , stored and also distributed according to the requirement in an organization.
Therefore, Option (C) is correct.
