1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mariulka [41]
4 years ago
12

Transactions for Hurricane Company during 2018:

Business
1 answer:
padilas [110]4 years ago
4 0

Answer and Explanation:

Hurricane Company

a. Interest Revenue = Face Amount x Interest Rate x Time Period

9000 x .12 x 3/12

=$270

b.4500/ 3 =$1,500/month

Amt Used up/Month x numbers of Months used up = $ Amt of Expense

1500 x 2 = 3000

c.

Amount Received in Advance = $ Amt to be Earned/Month numbers of Month Cash is For

13200/12 = 1100/months

$ Amt to be Earned/Month x numbers of Month Passed = Total Amount Earned

1100 x 5 = 5500

d. Beg Supplies + Purchase of Supplies - End Supplies = Supplies Used

1500 + 5500 – 3500 = 3500

ADJUSTING Journal Entries

12/31

Dr Interest Receivable270

Cr Interest Revenue270

Dr Rent Expense3000

Cr Prepaid Rent3000

Dr Deferred Revenue5500

Cr Service Revenue5500

Dr Salaries Expense5000

Cr Salaries Payable5000

Dr Depreciation Expense5500

Cr Accumulated Expense 5500

Dr Supplies Expense3500

Cr Supplies3500

You might be interested in
One year ago, you bought shares of Aaon, Inc at $36.48 a share. You received a dividend of $1.62 per share last month and sold t
Pie

Answer: 12.88%

Explanation:

The following information can.be inferred from the question:

Purchase price of share = $36.48

Dividend = $1.62

Selling price = $41.18

Capital gain = $41.18 - $36.48 = $4.70

Capital gain yield:

= Capital gain / Purchase price × 100

= (4.70 / 36.48) × 100

= 0.1288

= 12.88%

7 0
3 years ago
During 2020, Sarasota Furniture Company purchases a carload of wicker chairs. The manufacturer sells the chairs to Sarasota for
vfiekz [6]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

Gross profit = Sales - Cost of goods sold

= (440 x 90 + 220 x 80 + 264 x 50) - (440 x 56.7 + 220 x 50.4 + 264 x 31.5)

= (39,600 + 17,600 + 13,200) - (24,948 + 11,088 + 8,316)

= 70,400 - 44,352

= $26,048

Ending inventory schedule attached in the excel archive

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.  

Download xlsx
8 0
3 years ago
Competing in one or more countries or regions of the world causes strategy-making to be more complex because of
alexandr402 [8]
Here is the answer that best completes the statement:

What causes strategy-making to be more complicated as one competes in one or  more regions or countries of the world is due to existence of significant differences in each country in buyer preferences, growth potential and the sizes of the market. 
8 0
4 years ago
Johnston Company wants to double production of Product X from 1,000 units to 2,000 units. The variable manufacturing cost per un
ratelena [41]

Answer: C - $30,000

Explanation: Johnston Company wants to double production of Product X from 1,000 units to 2,000 units.

The variable manufacturing cost per unit is $10. The variable non manufacturing cost per unit is $20.

The selling price per unit is $50

To increase production by 1000 units

Total cost is $10 + $20 = $30

Total incremental cost = 1,000 * $30= $30,000

7 0
3 years ago
The payoff matrix represents hypothetical profits that could be earned by two milk sellers who have formed a cartel. each seller
vazorg [7]

For the statement  "The payoff matrix represents hypothetical profits that could be earned by two milk..." and the Milky Mose table  Both will cheat Option C. This is further explained below.

<h3>What is a payoff matrix?</h3>

Generally, payoff matrix is simply defined as when one player's tactics and those of the other are represented in a table called a payoff matrix, they are listed in rows.

In conclusion, In order to get an edge, both parties will engage in dishonesty. As a result, both parties will be tempted to cheat in order to gain an unfair advantage.

The payoff matrix below represents hypothetical profits that could be earned by two milk sellers who have formed a cartel. Each seller must decide if they want to cheat or not to cheat on the production quotas in the cartel agreement. Use the payoff matrix to answer the questions below. Does either member have an incentive to cheat? Heifer's Gold will cheat, but Milky Moo will not. No, neither has an incentive to cheat, Yes, both will cheat. Milky Moo's will cheat, but Heifer's Gold will not

Read more about payoff matrix

brainly.com/question/7656949

#SPJ1

8 0
2 years ago
Other questions:
  • What are expenses that change as conditions change?
    13·2 answers
  • Which is a business likely to need to secure startup capital from a venture capitalist?
    13·2 answers
  • Nine years ago the Templeton Company issued 26-year bonds with an 11% annual coupon rate at their $1,000 par value. The bonds ha
    14·1 answer
  • Buying power of dollar through the years
    5·1 answer
  • Renee Warning has a life insurance policy where the payments to beneficiaries get smaller as time passes. What type of term life
    14·1 answer
  • Assume that you manage a risky portfolio with an expected rate of return of 14% and a standard deviation of 30%. The T-bill rate
    5·1 answer
  • How can you have a positive Net Worth (Assets - Liabilities) but still struggle with making payments and having access to money?
    14·1 answer
  • What is stock exchange?​
    7·2 answers
  • The upward-sloping portion of the long-run average cost curve is a result of:.
    11·1 answer
  • What was one benefit of the transcontinental railroad? it made cross-country travel times longer. it ended many risks of traveli
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!