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horsena [70]
3 years ago
12

Balances for each of the following accounts appear in an adjusted trial balance. Identify each as an asset, liability, revenue,

or expense. 1. Accounts Receivable 2. Equipment 3. Fees Earned 4. Insurance Expense 5. Prepaid Advertising 6. Prepaid Rent 7. Rent Revenue 8. Salary Expense 9. Salary Payable 10. Supplies 11. Supplies Expense 12. Unearned Rent
Business
1 answer:
inna [77]3 years ago
6 0

Answer:

Explanation:

1. Accounts Receivable - Asset (Come under Current Asset)

2. Equipment - Asset (Come under Fixed asset)

3. Fees Earned - Revenue (Come under income statement)

4. Insurance Expense - Expense (Come under income statement)

5. Prepaid Advertising - Assets (Come under Current Asset)

6. Prepaid Rent - Asset (Come under Current Asset)

7. Rent Revenue - Revenue (Come under income statement)

8. Salary Expense - Expense (Come under income statement)

9. Salary Payable - Liability (Come under current liabilities)

10. Supplies - Asset  (Come under Current Asset)

11. Supplies Expense - Expense  (Come under income statement)

12. Unearned Rent - Liability (Come under current liabilities)

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Lola is a purchasing agent for her company. She has just submitted a purchase order to the supplier. What step in the purchasing
KiRa [710]

Answer:

Co-ordinate shipping with the supplier.

Explanation:

A purchase order is a document from a customer to the business entity, instructing them to supply the customer with the goods specified in the document.  By sending out the purchase order, Lola has given instructions to be supplied with the specified goods.

Lola should prepare to receive the goods from the supplier. She should contact the supplier and make arrangements on how the goods will be delivered.

5 0
3 years ago
Susan’s customers are always concerned about what they are receiving in exchange for what they are paying. They are concerned ab
liubo4ka [24]

Answer: Customer value  

         

Explanation: In simple words, customer value refers to the level of satisfaction that the consumer receives from purchasing a commodity. The level of satisfaction highly depends on the price that the customer gives for the commodity.

In the given case, the customer of Susan's were concerned about their utility satisfaction.

Hence from the above we can conclude that the correct option is C.

3 0
3 years ago
Anew Health Care Company reports net income of $210,000 and Depreciation Expense of $24,000 for the year ending December​ 31, 20
Fiesta28 [93]

Answer:

$344,000

Explanation:

                                                      2018                 2019            Change

                                                 Amount in $    Amount in $  Amount in $

Inventory                                     99,000.00      72,000.00       27,000.00  Total current asset                   289,000.00    248,000.00       41,000.00  Accounts payable                               52,000.00     42,000.00     (10,000.00)

Salaries payable                              39,000.00      91,000.00      52,000.00  

                                                                           Amount in $

Net income                                                             210,000.00  

Add depreciation                                                      24,000.00  

Changes to current assets and liabilities  

Inventory                                                               27,000.00  

Total current asset                                               41,000.00  

Accounts payable                                                        (10,000.00)

Salaries payable                                                       <u> 52,000.00  </u>

Net cash flows from operating activities               <u>344,000.00  </u>

3 0
3 years ago
Creating value within business units can happen when a firm tries to find and acquire either poorly performing firms with unreal
Strike441 [17]

Answer:

Parenting.

Explanation:

The complexity of transitional business conditions creates a necessity for creating value through aggregation of various businesses in complex corporate enterprise, which provides it the character of a multi-business firm. Businesses may be defined as being regardless of the enterprise chooses to work as organizationally separate profit-responsible units. this can be primary done to create a fit between ways the business creation is been done.

6 0
2 years ago
Smith Machining makes three products. The company’s annual budget includes $1,048,000 of overhead. In the past, the company allo
Flauer [41]

Answer:

The computation is shown below:

Explanation:

a. The company overhead rate based on direct labor is

= Total Overheads ÷ Direct Labor Hours

= $1,048,000 ÷ 40,000

= $26.2 per hour

b) Overheads Rate using Activity Based Costing  is

= Cost ÷ Activity level

For  Order Processing, it is

= $226,800 ÷ 14,000 orders

= $16.2 per order

For setups, it is

=  $157850 ÷ 4,100 setup

= $38.5 per setup

For Milling, it is  

= $395,850 ÷ 20,300 machine hours

= $19.5 per machine hour

For Shipping

= $267,500 ÷ 25,000

= $10.7 per shipment

We simply applied the above formula so that the per unit could come

6 0
3 years ago
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