Answer:
Increase Rent Expense, $4,000; decrease Prepaid Rent, $4,000.
Explanation:
Since Fisher Shoe Store paid $24,000 to Acme Realty for 6 months rent beginning July 1, we will calculate monthly rent amount by:
24,000/6 = $4,000
Financial statements are prepared on July 31, so we will adjust the July rent in the adjusting entry.
We will debit the rent expense by $4,000 and credit the prepaid rent which is an asset to decrease it by an amount of $4,000.
Explanation:
The journal entry is as follows:
Sales A/c Dr $900
To Customer refund payable A/c $900
(Being the refund is recorded)
For recording this given entry, we debited the sales account and credited the customer refund payable account so that the proper positing could be done. Both the accounts are recorded at $900
Answer: 1. Deliverables
2. Objectives
Explanation: A deliverable is a project management term that describes tangible or intangible goods or services that are produced from the project, with the intention of being delivered to a consumer.
An objective in this context is a goal that an enterprise aspires towards achieving.
In every enterprise each section is tasked with producing outputs within each department, and deliver to customers. The intention is to of achieve the overall objectives set by the enterprise. Functions are designed to operate cohesively, with the aim of achieving these 2 aspects and ensuring that the enterprise runs smoothly and generates the best possible outcome.
Answer:
Production budget:
Projected sales= 64,000
Ending inventory= 7,000
Beginning inventory= (2,600)
Total= 68,400 units
Explanation:
Giving the following information:
Pasadena Candle Inc. projected sales of 64,000 candles for January. The estimated January 1 inventory is 2,600 units, and the desired January 31 inventory is 7,000 units.
Production budget= projected sales + ending inventory - beginning inventory
Production budget:
Projected sales= 64,000
Ending inventory= 7,000
Beginning inventory= (2,600)
Total= 68,400 units
Answer:
$785.34
Explanation:
The computation of the seller's share of the tax bill is shown below:
= Expected estate taxes for the year × number of days of the tax year ÷ total number of days in a year
= $31,50 × 91 days ÷ 365 days
= $785.34
We simply applied the proportionate method so that the approximate value could be arrived by taking all the information which is mentioned in the question.
