All categories

3 years ago

Recording Initial Transactions and Subsequent Adjustments

Business

1 answer:

aalyn [17]3 years ago

4 0

Answer:

a. On September 1, paid rent on the track facility for six months at a total cost of $12,000.

September 1

Dr Prepaid rent 12,000

Cr Cash 12,000

September 30

Dr Rent expense 2,000

Cr Prepaid 2,000

b. On September 1, received $60,000 for season tickets for 12-month admission to the race track.

September 1

Dr Cash 60,000

Cr Deferred revenue 60,000

September 30

Dr Deferred revenue 5,000

Cr Revenue 5,000

c. On September 1, booked the race track for a private organization that will use the track one day per month for $2,000 each time, to be paid in the following month. The organization uses the track on September 30.

September 30

Dr Accounts receivable 2,000

Cr Revenue 2,000

d. On September 1, hired a new manager at a monthly salary of $3,000, to be paid the first Monday following the end of the month.

September 30

Dr Wages expense 3,000

Cr Wages payable 3,000

You might be interested in

Turnbull Co. is considering a project that requires an initial investment of $1,708,000. The firm will raise the $1,708,000 in c

Anna35 [415]

Answer:

11.06%

Explanation:

Calculation to determine What will be the WACC for this project

First step is to calculate the Weight of Debt

Weight of Debt = $750,000 / $1,708,000

Weight of Debt = 0.4391

Second step is to calculate the Weight of Preferred Stock

Weight of Preferred Stock = $78,000 / $1,708,000

Weight of Preferred Stock = 0.0457

Third step is to calculate the Weight of Equity

Weight of Equity = $880,000 / $1,708,000

Weight of Equity = 0.5152

Fourth step is to calculate After Tax Cost of Debt

After Tax Cost of Debt = 11.1% * (1 – 0.40)

After Tax Cost of Debt = 6.66%

Now let calculate WACC using this formula

WACC = (Weight of Debt * After Tax Cost of Debt) + (Weight of Preferred Stock * Cost of Preferred Stock) + (Weight of Equity * Cost of Equity)

Let plug in the formula

WACC = (0.4391 * 0.0666) + (0.0457 * 0.1220) + (0.5152 * 0.1470)

WACC = 0.02924406+0.0055754+0.0757344

WACC =0.1106*100

WACC =11.06%

5 0

2 years ago

How can surveys and questionnaires be used to gather data for informal reports?

zavuch27 [327]

Answer:

Surveys and questionnaires allow you to collect data efficiently and economically from groups of people.

Explanation:

Surveys are research often used to assess opinions, thoughts, and feelings of people towards a subject area or environment. it can either be limited or specific or they also can have more widespread goal which can be global.

Questionnaires is a set of questions written or printed with answer choices , devised for the purposes of a statistical study or survey.

6 0

3 years ago

Read 2 more answers

You own a $36,800 portfolio that is invested in Stocks A and B. The portfolio beta is equal to the market beta. Stock A has an e

madam [21]

Answer:

The answer is $13,558

Explanation:

βP = 1.0 = 1.48A+ [.72 × (1-A)]

A = .368421

Investment in Stock A = $36,800 × .368421 = $13,558

8 0

3 years ago

Sammie is planning a persuasive request. What advice should she follow for the opening of her request? a. Capture the reader's a

Andrei [34K]

Answer:

a. Capture the reader's attention and interest.

Explanation:

To be able to make a request to someone persuasively, , it is very pertinent to lead the person to a point where such person can listen to you. This can only work in a context where you are very efficient in using story telling and other means of interaction that are capable of winning the persona interest and loyalty. Otherwise, you cannot have the person respond to your request.

4 0

3 years ago

International monetary analysis focuses on Group of answer choices the international trade side of the international economy. th

Ganezh [65]

Answer:

the monetary side of the international economy, such as currency exchange.

Explanation:

Globalization can be defined as the strategic process which involves the integration of various markets across the world to form a large global marketplace. Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.

An exchange rate can be defined as a number used to represent the value of one country's currency in comparison to another.

International monetary analysis focuses on the monetary side of the international economy, such as currency exchange.

6 0

3 years ago