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
babunello [35]
3 years ago
5

At the end of May, the following adjustment data were assembled:A. Insurance expired during May is $275B. Supplies on hand on Ma

y 31 are $715C. Depreciation of office equipment for May is $330D. Accrued receptionist salary on May 31 is $325E. Rent expired during May is $1,600F. Unearned fees on May 31 are $3,210Required:Journalize the adjusting entries.
Business
1 answer:
jasenka [17]3 years ago
3 0

Answer and Explanation:

The journal entries are shown below:

a.  Insurance expense $275

             To Prepaid insurance $275

(Being the insurance expense is recorded)

b.  Supplies expense $785 ($1,500 - $715)

            To Supplies $785

(Being the supplies expense is recorded)

We assume the balance of supplies before adjustment is $1,500

c. Depreciation - office equipment $330

          To Accumulated depreciation $330

(Being the depreciation expense is recorded)

d. Salary Dr $325

        To Accrued salary $325

(Being the accrued salary is recorded)

e.  Rent expense $1,600

            To Prepaid rent $1,600

(Being the rent expense is recorded)

f. Unearned fees $790

           To Fees revenue $790

(Being the unearned fees is recorded)

We assume the balance of unearned fees before adjustment is $4,000

So, $790 is come from

= $4,000 - $3,210

= $790

You might be interested in
Item 25 In marketing, each __________ consists of people who are relatively similar to each other in terms of their consumption
kifflom [539]

Answer:

market segment.

Explanation:

Marketing can be defined as the process of developing promotional techniques and sales strategies by a firm, so as to enhance the availability of goods and services to meet the needs of the end users or consumers through advertising and market research.

Thus, it comprises of all the activities such as, identifying, anticipating set of medium and processes for creating, promoting, delivering, and exchanging goods and services that has value for customers. It typically, involves understanding customer needs, building and maintaining healthy relationships with them in order to scale up your business.

In marketing, each market segment comprises of people (consumers) who are relatively similar to each other in terms of their consumption behavior and preference or choice with respect to goods and services.

3 0
3 years ago
Suppose that borrowing is restricted so that the zero-beta version of the CAPM holds. The expected return on the market portfoli
raketka [301]

Answer:

10.4%

Explanation:

The computation of expected return on a portfolio is shown below:-

Expected return = Risk Free return + 5%Beta ( Market Return - Risk Free return)

= 5% + 0.60 × (17% - 8%)

= 5% + 5.4%

= 10.4%

Therefore for computing the expected return on a portfolio with a beta of .6 we simply applied the above formula.

The market return less risk free return is known as market risk premium

3 0
3 years ago
A firm estimates its average total cost at 90 units of output to be $15. If the firm can sell all of its output at a market pric
SSSSS [86.1K]

Answer:

435

Explanation:

5(90)=450-15=435

8 0
2 years ago
If the same number of units of good Y must be given up as each successive unit of good X is produced, then the PPF for these two
andrey2020 [161]

Answer:

PPF : Downward Sloping Straight Line

Explanation:

PPF is the locus of product combinations that an economy can produce, given resources & technology.

It is downward sloping : Because of inverse relationship between two goods- if one has to be increased other has to be decreased , because of same resources & technology.

Marginal Opportunity Cost (Slope of PPC): is ratio of a good sacrifised to gain each additional unit of the other good.

∆ Good sacrifised / ∆ Good gained

If this ratio is same i.e constant amount of a good is sacrifised to gain an additional amount of the other one , the slope of PPC is constant & it is a straight line

Eg : Good1    Good2     MOC [∆Good2/∆Good1]

      0               20             _        

      10             10           -10/10 = -1                  (10-20)/(10-0)

       20              0           -10/10 = -1                   (0-10)(/20-10)

So , same (1) good 2 is sacrifised to attain a good 1 each time.

However Generally: MOC is increasing , because of assumption that resources are unequally efficient in various goods production - shifting good from efficient to inefficient increases sacrifise each time. This makes PPC usually concave.

5 0
3 years ago
In Da Houz is a bar which mostly plays trance music, and has a dedicated day every week for local bands to perform. In Da Houz t
Dmitry_Shevchenko [17]

Answer:

Direct marketing            

Explanation:

In simple words, Direct marketing relates to the means of selling an deal, where companies specifically interact with a pre-selected client and provide a mechanism for veiled reference. It has also been recognized as direct reaction marketing amongst practitioners.

The least likely to be successful is indeed a direct marketing message that is sent to the largest possible public. After all, while simply irritating several other beneficiaries, the business can gain few more consumers.

5 0
3 years ago
Other questions:
  • some companies, such as alphabet, have created classes of stock with no voting rights at all. why would investors buy such stock
    14·1 answer
  • Maria wants to become a computer programmer. What SMART, short-term goal could she set for herself
    9·2 answers
  • Explain any experience you have with blogs, wikis, discussion boards, online communities
    12·1 answer
  • If a firm engages in final assembly in its home operations, then which of the following operations of the firm in a foreign coun
    7·1 answer
  • Balance sheet accounts Group of answer choices 1. are called real accounts 2. have zero balances after the closing entries have
    12·1 answer
  • Blaser Corporation had $1,075,000 in invested assets, sales of $1,243,000, income from operations amounting to $216,000 and a de
    13·2 answers
  • Currently, the U.S. Olympic Committee (USOC) pays Olympic athletes $25,000 for each gold medal, $15,000 for a silver medal, and
    13·1 answer
  • The Campus Division of All-States Bank has assets of $1,800 million. During the past year, the division had profits of $225 mill
    9·1 answer
  • Markets for individuals looking to buy products or services for personal or household use are called _____.
    11·1 answer
  • Say’s law argues that a given ____________________ must create an equivalent ________________________ somewhere else in the econ
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!