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Georgia [21]
3 years ago
6

N april 1, santa fe, inc. paid griffith publishing company $1,548 for 36-month subscriptions to several different magazines. san

ta fe debited the prepayment to a prepaid subscriptions account, and the subscriptions started immediately. what adjusting entry should be made by santa fe, inc. for the adjustment on december 31 of the first year assuming the company is using a calendar-year reporting period and no previous adjustments had been made?
Business
1 answer:
DerKrebs [107]3 years ago
3 0
<span>Let us first find out how much of the prepaid subscriptions has been used up during the reporting year. $1548 is for 36 months. So the monthly rate of subscription charges will be 1548/36 = 43. During the reporting year, subscription charges are paid only for 9 months( from April to December) So the amount to be debited to subscription charges = 43 * 9 = 387. Subscription charges will be debited with $ 387 and prepaid subscriptions account will be credited with the same amount. The remaining amount, 1548-387=1161, will remain in prepaid subscriptions account as a debit balance.</span>
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For a product that has a large economic value, a firm can choose to charge the same price as competitors in order to ______. Mul
kirill [66]

In order to <u>gain market share</u><u>,</u> some a firm whose product that has a large economic value do decides to charge the same price as competitors.

<h3>What is a market share?</h3>

A market share refers to an industry percentage that is earned by a particular company over a specified time

In conclusion, some firm whose product that has a large economic value charges the same price as competitors In order to gain market share.

Read more about market share

<em>brainly.com/question/25309906</em>

5 0
2 years ago
You have borrowed $28,000 at an interest rate of 12% compounded annually. Equal payments will be made over a four-year period, w
Sloan [31]

Answer:

A = 28000 [\frac{0.12 (1.12)^4}{(1.12)^4 -1}]

A = 28000 [\frac{0.12*1.574}{1.574-1}]

A=28000*0.3292 = 9218.564

So then the annual pay would be $ 9218.564 for this case

Explanation:

For this question we can use the Equivalent annual value (A) given by the following expression:

A = PV [\frac{i (1+i)^t}{(1+i)^t -1}]

Where PV = 28000 represent the pesent value

i = 0.12 since the rate is yearly

t = 4 since we have 4 years to pay

So then we have everything to replace and we got:

A = 28000 [\frac{0.12 (1.12)^4}{(1.12)^4 -1}]

A = 28000 [\frac{0.12*1.574}{1.574-1}]

A=28000*0.3292 = 9218.564

So then the annual pay would be $ 9218.564 for this case

And this amount would be paid each year in order to pay all the money after 4 years.

6 0
3 years ago
Discuss how geographics can influence consumer purchasing decisions
OLga [1]
A surf board shop for example. If you lived in a place like Ohio you’re not gonna have very many sales because there’s no ocean or surf parks near by. But if you lived somewhere like California you’re sales would be much better.
8 0
3 years ago
Marin Company's accounts receivable arising from sales to customers amounted to $88000 and $77000 at the beginning and end of th
anzhelika [568]

Answer:

Marin Company

Exclusive of the effect of other adjustments, the cash flows from operating activities to be reported on the statement of cash flows is

$345,000

Explanation:

a) Data and Calculations:

Accounts Receivable (Beginning) $88,000

Accounts Receivable (Ending) $77,000

Increase in Cash received from customers = $11,000

b) Income reported on the income statement for the year = $334,000

Increase in Cash received from Customers =                               11,000

Cash flows from operating activities to be reported =           $345,000

c) The Accounts Receivable reduced from $88,000 to $77,000.  This implied that some customers settled their accounts.  Therefore, there was inflow of cash from customers.  This increases the cash flows from operating activities.  This is why the difference is added to the Income as per income statement as a change in working capital.

5 0
3 years ago
On November 10 of the current year, Flores Mills sold carpet to a customer for $8,000 with credit terms 2/10, n/30. Flores uses
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The appropriate journal entry to record the transactions is: Debit Cash $7,840; Debit Sales discount $160; Credit Account receivable $8,000.

<h3 /><h3>Journal entry</h3>

The correct entry to record the transaction is:

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Debit Cash $7,840

(98%×$8000)

Debit Sales discount $160
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Credit Account receivable $8,000

Therefore the appropriate journal entry to record the transactions is: Debit Cash $7,840; Debit Sales discount $160; Credit Account receivable $8,000.

Learn more about journal entry here:brainly.com/question/14279491

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3 0
2 years ago
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