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Ludmilka [50]
4 years ago
11

g The adjusted trial balance for Kingbird, Inc. is given below. Kingbird, Inc. Trial Balance August 31, 2020 Before Adjustment A

fter Adjustment Dr. Cr. Dr. Cr. Cash $10,400$10,400 Accounts Receivable 8,5009,700 Supplies 2,300600 Prepaid Insurance 4,0002,500 Equipment 14,30014,300 Accumulated Depreciation-Equipment $ 3,500$ 4,500 Accounts Payable 5,8005,800 Salaries and Wages Payable 01,400 Unearned Rent Revenue 1,600700 Common Stock 11,70011,700 Retained Earnings 3,600 3,600 Service Revenue 34,20035,400 Rent Revenue 10,90011,800 Salaries and Wages Expense 16,80018,200 Supplies Expense 01,700 Rent Expense 15,00015,000 Insurance Expense 01,500 Depreciation Expense 0 1,000 $71,300$71,300$74,900$74,900

Business
1 answer:
jeyben [28]4 years ago
5 0

Answer:

See explanation section

Explanation:

See the following image to get the answer:

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1.1. define the following concept social change
k0ka [10]

ANSWER:

Social change refers to any significant alteration over time in behaviour patterns and cultural values and norms. By “significant” alteration, sociologists mean changes yielding profound social consequences.

8 0
3 years ago
At the end of the year, the deferred tax asset account had a balance of $4 million attributable to a temporary difference of $16
Alex

Answer:

1 . Dr ncome tax expense 7

Dr Deferred tax asset 4

Cr Income tax payable 11

2. Dr Income tax expense3

Cr Valuation allowance-Deferred tax asset3

Explanation:

Preparation of Journal entries

JournalDebitCredit

(In million)

1 . Dr ncome tax expense 7

($11-$4=7)

Dr Deferred tax asset 4

($16× 25% = $4)

Cr Income tax payable 11

($44 × 25% = $11 )

2. Dr Income tax expense3

Cr Valuation allowance-Deferred tax asset3

(3/4 × $4) = $3 million

Deferred tax asset= ($16× 25%)

Deferred tax asset= $4 million

Income tax payable= ($44 × 25%)

Income tax payable= $11 million

5 0
3 years ago
List five goods that are likely to be sold in a monopolistically.competitive market.
Alexeev081 [22]

Answer:

Cars

Toothpaste

Toilet paper

Hairspray

Televisions

4 0
4 years ago
Which act outlines regulations to control smoke and other forms of pollution from various sources, whether stationary or in moti
hoa [83]

The clean air act outlines regulations to control smoke and other forms of pollution from various sources, whether stationary or in motion.

<h3>What is pollution</h3>

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8 0
2 years ago
Scott Distributors has the following transactions related to notes receivable during the last two months of the year.
lara [203]

Answer:

Dec 1

Dr Notes Receivable 16,000

Cr Cash 16,000

Dec 16

Dr Notes Receivable 4,800

Cr Sales Revenue 4,800

Dec. 31

Dr Interest Receivable 94

Cr Interest Revenue 94

Explanation:

Preparation of Scott Distributors Journal entry

Since we are told that on Dec. 1 Scott Distributors was tend to Loaned tha amount of $16,000 cash to E. Kinder which was on a 1-year, 6% note this means the transaction will be recorded as:

Dec 1

Dr Notes Receivable 16,000

Cr Cash 16,000

Since we were told that Scott Distributors Sold goods to J. Jones by receiving a sum of $4,800, 60-day, 7% note this means the transaction will be recorded as :

Dec 16

Dr Notes Receivable 4,800

Cr Sales Revenue 4,800

The Accrued interest revenue on all notes receivable transactions will be recorded as:

Dec. 31

Dr Interest Receivable 94

Cr Interest Revenue 94

Computation of interest revenue for E. Kinder note and J. Jones

E.kinder=

The amount of $16,000 *0.06*30/360

= $80

Jones note=

The amount of 4,800 *0.07×15/360

= 14

Total accrued interest (80+14)

$94

5 0
3 years ago
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