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2 years ago

Which of the following criteria is most descriptive of a private liberal arts college?

Business

2 answers:

Sergio039 [100]2 years ago

6 0

D, personal attention from instructors in smaller classes.

Harlamova29_29 [7]2 years ago

3 0

For the answer to the question which of the following criteria is most descriptive of a private liberal arts college. The answer is multiple choice letter <span>D. Personal attention from instructors in smaller classes.

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a1. Lobo Company purchased equipment for $40,000 with a useful life of five years and no expected salvage value. Prepare the adj

Pavel [41]

Answer:

a1. Dr Depreciation Expense $8,000

Cr Accumulated Depreciation $8,000

a2. $24,000

b2. December 31

Dr Wages Expenses $440

Cr Wages payable $440

Explanation:

a1. Preparation of the adjusting entry for the first year using the straight-line depreciation method.

Dr Depreciation Expense $8,000

Cr Accumulated Depreciation $8,000

($40,000/5 years)

a2. Computation of the book value at the end of the second year of the equipment's life.

First step is to calculate the First year Book value

First year Book value=$40,000/5 years

First year Book value=$8,000

Second step is to calculate the Second year Book value

Second year Book value=($40,000+$40,000)/5 years

Second year Book value=$80,000/5 years

Second year Book value=$16,000

Now let compute the book value at the end of the second year of the equipment's life.

Book value at the end of the second year=$8,000+$16,000

Book value at the end of the second year=$24,000

Therefore the Book value at the end of the second year will be $24,000

b1. Preparation of the adjusting entry on December 31

December 31

Dr Wages Expenses $440

Cr Wages payable $440

($2,200/5 years)

3 0

3 years ago

Andrea Apple opened Apple Photography on January 1 of the current year. During January, the following transactions occurred and

Tamiku [17]

Answer: D. $40,175

Explanation:

The balance in the Capital account reported on the Statement of Owner's Equity will include the Capital contributions of Andrea Apple to the business as well as the Net income from operations also known as Retained Earnings.

The Net Income for the month will be revenue less expenses.

Revenue

$5,700 cash and $2,750 on account for services provided in January.

Revenue is therefore,

= 5,700 + 2,750

= $8,450

Expenses

Expenses include the rent paid of $1,500 and the $275 paid for January Utilities.

= 1,500 + 275

= $1,775

Net Income = Revenue - Expenses

Net Income = 8,450 - 1,775

Net Income = $6,675

The Capital that Mr. Apple brought into the business refers to anything he contributed to the business whether in cash or otherwise.

The Capital therefore is,

- The $13,500 cash and the $20,000 worth of equipment.

The Capital Mr. Apple brought into the business is therefore,

= 13,500 + 20,000

= $33,500

The balance on the capital account will therefore be,

= Capital + Net Income

= 33,500 + 6,675

= $40,175

Option D. is correct.

3 0

2 years ago

A(n) is a request by an account holder to the bank not to pay a specific payment.

Rasek [7]

the answer is stop payment!

3 0

3 years ago

Read 2 more answers

Cadets at West Point spend time during the summer learning about the branches of the Army like aviation, infantry, ordnance, fin

vovikov84 [41]

Answer:

b. rotation

Explanation:

correct answer is rotation because Job rotation is a management approach where employees are regularly moved between two or more tasks or jobs to expose them to all work areas of the company.
This is a pre-planned approach aimed at testing the skills and capabilities of employees so that they can be implemented. In addition, it reduces the change of job and gives them a broader experience and helps them gain more insight.
Job rotation is a well-planned exercise to reduce boredom and learn the employee's hidden ability to do the same thing. This process is useful for management and employees

8 0

2 years ago

The goal of the accounts receivable methods is to adjust the Allowance for Doubtful Accounts balance so that multiple choice The

Nezavi [6.7K]

Answer:

The adjusted balance is equal to the estimate of the uncollectible accounts receivable.

Explanation:

Receivable in economics is simply whenbusiness sells goods or services to another party on account usually on credit. It is also known as a monetary claim usually against a business or an individual.

Accounts receivable

Is simply defined as the power to the right to receive cash in the future from customers for goods or services performed. They can be called claim of right, exchange consideration, and a claim for the future.

The supplementary record that contains information on each customer is the accounts receivable ledger.

The goal for the accounts receivable methods is to adjust the Allowance for Doubtful Accounts balance making the adjusted balance is equal to the estimate of the uncollectible accounts receivable.

7 0

2 years ago