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4 years ago

The following is the adjusted trial balance of Wilson Trucking Company.

Business

1 answer:

amm18124 years ago

5 0

Answer:

1. Wilson Trucking Company

Income Statement

Revenues:

Trucking fees earned $130,000

Expenses:

Depreciation expense - Trucks $23,500

Salaries expense $61,000

Office Supplies expense $8,000

Repairs Expense - Trucks $12,000

Total Expenses <u>$104,500</u>

Net Income <u> $25,500</u>

2. Statement of Retained earnings

Beginning balance 1 Jan 17 $155,000

Add: Net Income $25,500

Less: Dividends <u>$20,000</u>

Ending Balance 31 Dec 2017 <u>$160,500</u>

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In the month of March the Digby Corporation received and delivered orders of 189,000 units at a price of $15.00 for revenue of $

Basile [38]

Answer:

$2.835 in March and $0 in May.

Explanation:

As per the data given in the question,

The actual method of accounting is that the revenue is not recognized in the period when the actual cash is received but the period in which it is earned.Hence, May-31 income statement will not recognize any part of revenue and March-31 income statement will recognize the whole revenue of $2.835 million.

Hence, $2.835 in March and $0 in May.

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4 years ago

1. A county's general fund has $4,000,000 in purchase orders outstanding at the beginning of 2020. The orders are delivered in 2

nata0808 [166]

Answer: C

$39,000,000

Explanation:

Using the legal budgetary basis, this should be reported. Decision makers have the scope in determining how the agency’s monies are actually spent. The limitations may result from legal restrictions on how funds may be used, matching funds issues (that will result in loss of revenues if the agency does not spend a certain amount), and state mandates.

ONLY the expenditure made in reference to 2020, will be accounted. Since the $5,000,000 is going to be for the next year so it's not added.

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3 years ago

Read 2 more answers

Suppose you read a news article reporting that your local government has denied a request by an entrepreneur to build a new coff

finlep [7]

Answer:

Yes, I would support the denial because rules and regulations apply to everyone, and that includes businesses. Zoning rules exist in real estate to make sure that some areas or neighborhoods are used for certain specific purposes, e.g. residential areas, industrial areas or commercial areas. If those rules regulations didn't exist, it would be a complete mess and anyone could just set a factory besides a condo or a school. Either everyone follows the rules or no one does.

Explanation:

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3 years ago

Financial accounting provides a historical perspective, whereas management accounting emphasizes ________.

Lady_Fox [76]

Financial accounting provides a historical perspective, whereas management accounting emphasizes (A) the current perspective.

<h3>What is management accounting?</h3>

Management accounting can be defined as the provision of financial and non-financial decision-making information to managers.
In other words, management accounting aids directors in making decisions within an organization.
This is also referred to as cost accounting.
This is the method for distinguishing, examining, deciphering, and communicating data to managers in order to help them achieve business objectives.
The information gathered includes all accounting fields that educate the administration on business tasks associated with the organization's financial expenses and decisions.
Accountants use plans to assess the overall strategy of an organization's operations.
Management accounting focuses on the present.

Therefore, financial accounting provides a historical perspective, whereas management accounting emphasizes (A) the current perspective.

Know more about management accounting here:

brainly.com/question/14727215

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2 years ago

Shawn is planning a bus trip across town that involves three buses. Bus 1 travels between Shawn’s house and downtown, and it lea

miv72 [106K]

Answer:

least waiting time = 18 mins

Explanation:

given as per question we know that 2nd bus start 10 min early than 1st bus

and both time frequency same = 30 min

1st bus time take = 1 hr 12 mins

and 2nd bus get waiting time 30 min - (10 + 12)

that is = 8 mins

we can say time arrival time for 1st bus = 8:32 and 9:02 and 9:32

by adding 30 mins

and

departure time for 2nd bus = 8:40 and 9:10 and 9:40

same like that 3rd bus leave every hour

and

service start on hour clock , a 10 mins early is = 7:10 am and 9 am

frequency of either half or 1 hour

so 2nd bus takes = 2 hour 40 mins

so waiting time is 60 - (10 - 40) = 10 min or 10 + 30 = 40 mins

so 1st bus waiting time is 8 mins so it take least time 10 mins for 2nd bus waiting time

as that

least waiting time = 8 + 10

least waiting time = 18 mins

4 0

3 years ago