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inn [45]
3 years ago
14

Jardine Consulting Co. has the following accounts in its ledger: Cash, Accounts Receivable, Supplies, Office Equipment, Accounts

Payable, Common Stock, Retained Earnings, Dividends, Fes Earned, Rent Expense, Advertising Expense, Utility Expense, Miscellaneous Expense.Journalize the following selected transactions for March 2016 in a two-column journal. Journal entry explanations may be omitted.Mar.1. Paid rent for the month, $2,500.3. Paid advertising expense, $675.5. Paid cash for supplies, $1,250.6. Purchased office equipment on account, $9,500.10. Received cash form customers on account, $16,550.15. Paid creditor on the account, $3,180.27. Paid cash for repairs to office equipment, $540.30. Paid telephons bill for the month, $375.31. Fees earned and billed to customers for the month, $49,770.31. Paid electricity bill for the month, $830
Business
1 answer:
aksik [14]3 years ago
8 0

Answer:

Mar.1

Rent Expense $2,500 (debit)

Cash $2,500 (credit)

Mar.3

Advertising Expense $675 (debit)

Cash $675 (credit)

Mar.5

Supplies $1,250 (debit)

Cash $1,250 (credit)

Mar.6

Office equipment $9,500 (debit)

Accounts Payable $9,500 (credit)

Mar.10

Cash $16,550 (debit)

Accounts Receivable $16,550 (credit)

Mar.15

Accounts Payable $3,180  (debit)

Cash $3,180 (credit)

Mar.27

Miscellaneous Expense $540 (debit)

Cash $540 (credit)

Mar.30

Utility Expense $375 (debit)

Cash $375 (credit)

Mar. 31

Accounts Receivable $49,770 (debit)

Fees Earned $49,770 (credit)

Mar. 31

Utility Expense $830 (debit)

Cash $830 (credit)

Explanation:

Telephone Bill and Electricity Bill are both utilities used for operations hence entered under Utility Expense Account.

Repairs to Office Equipment was entered in the Account Title Miscellaneous Expense because of all the Account Titles for this Company, this is the most appropriate.

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Allure Company manufactures and distributes two products, M and XY. Overhead costs are currently allocated using the number of u
Elan Coil [88]

Answer:

Option (B) is correct.

Explanation:

Number of units produced in total  = M + XY

                                                         = 108,000 + 72,000

                                                         = 180,000

Total Overhead Cost = $72,000 + $50,000 + $355,000

                                   = $477,000

The total overhead allocated to Product XY using the current system:

= (Total Overhead Cost ÷ number of units produced in total) × Number of Units of Product XY

= ($477,000 ÷ 180,000) × 72,000

= $190,800

4 0
3 years ago
(True) or (False)? The total amount of depreciation accumulated for an asset over its entire life will differ depending on the m
vladimir1956 [14]

Answer:

True

Explanation:

Let us illustrate this using the below hypothetical case:

Asset acquired-motor vehicle

useful life is 3 years

salvage value $20,000

cost of the asset=$100,000

depreciation methods:

straight-line method

double-declining balance method

depreciation under straight-line method=(cost-salvage value)/useful life

depreciation under straight-line method=($100,000-$20,000)/3=$26,666.67  

accumulated depreciation for 3 years=$26,666.67  *3=$80,000

double declining balance method:

double-declining rate=100%/useful life *2=100%/3*2=67%

2 means double

year 1 depreciation=$100,000*67%=$67,000

year 2 depreciation=($100,000-$67000)*67%=$22,110  

year 3 depreciation=($100,000-$67000-$22110)*67%=$7,296  

accumulated depreciation for 3 years=$67,000+$22,110+$7,296=$96,406  

$80,000 not equal to $96,406  

5 0
2 years ago
A company that treats its resources, products, and people as transcending national boundaries is____ company, and it will hire a
never [62]

Answer: (A) Geocentric

Explanation:

 A geocentric company is one of the type of internal recruiting method where the national companies and the management looking for some good opportunities at very large scale.

The basic approach of the geocentric company is that it views the entire world the the form of single market and also developing the various types of standard marketing mix in the form of global market.

 According to the given question, when a company treat the products, people and the resources as the transcending boundaries is refers as the geocentric company. In this the companies recruiting the  

 Therefore, Option (A) is correct answer.

8 0
3 years ago
In 2014 the average cost of a four year college is $26,017. How much is a four year college expected to cost in 2034 based on 7%
Oksana_A [137]

Answer:

i think the answer is $27,350

Explanation:

i hope it help

6 0
3 years ago
Rita and Paul are married and both work outside the home. Paul works as a contractor, and Rita is employed by a company. Paul te
Vesna [10]
Your answer is A. Paul is correct because the government always withholds money for taxes due from all incomes.
4 0
3 years ago
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