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algol13
3 years ago
9

The ledger of Shamrock, Inc. on March 31, 2017, includes the following selected accounts before adjusting entries.

Business
1 answer:
romanna [79]3 years ago
3 0

Answer and Explanation:

The adjusting entries are as follows:

1 Insurance expense Dr $310

           To Prepaid Insurance  $310

(Being insurance expense is recorded)  

2 Supplies expense Dr $1,650 ($2,610 - $960)

           To Supplies $1,650

(Being supplies expense is recorded)  

3 Depreciation expense Dr $150

           To Accumulated Depreciation - Equipment $150

(Being depreciation expense is recorded)  

4 Unearned service revenue Dr (two-fifth of $12,000) $4,800

           To Service Revenue $4,800

(Being service revenue is recorded)

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Answer:

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The report is attached in form of a variance report with comments.  Where the variance is not indicated, it means that it was neither favorable nor unfavorable.

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A responsibility report is usually presented by a division that is an investment center.  An investment center has responsibility for return on investments.

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3 years ago
Farmer Brian has 3 acres of land which he farms efficiently. Each acre can support 10 apple trees. However the 3 acres differ in
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Opportunity cost represents the  value of cost  what must be given up toin order to obtain the best alternative.

Here Farmer Brain has 3 acres of land that can support 10 apple threes on each acre, and 30 orange tree on best acre, 20 on good acre and 10 oranges on bad acre.

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