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2 years ago

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

Business

1 answer:

romanna [79]2 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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Suppose apples come in two quality levels, low quality and high quality. At a store in the apple-growing region, the price of

dedylja [7]

Answer:

Yes.

Explanation:

Given that,

Price of low-quality apples = $1 per pound

Price of high-quality apples = $4 per pound

Marginal utility of low-quality apples = 3 utils

Marginal utility of high-quality apples = 12 utils

Equimarginal:

(Marginal utility of low quality apples ÷ Price per apple) = (Marginal utility of high quality apples ÷ Price per apples)

(3 utils ÷ $1) = (12 utils ÷ $4)

3 = 3

Yes, Timmy is maximizing his utility as his equimarginal utility is same for both the goods as shown above.

5 0

2 years ago

On December 31, 2021, Coolwear Inc. had balances in Accounts Receivable and Allowance for Uncollectible Accounts of $48,000 and

Reil [10]

Answer:

$3,325

Explanation:

Bad Debt Expense = Allowance for uncollectible accounts 2022 - (Allowance for uncollectible accounts 2021 - Written off in accounts receivable

Bad Debt Expense = $4,100 - ($1,400 - $625)

Bad Debt Expense = $4,100 - $775

Bad Debt Expense = $3,325

So, the bad debt expense for 2022 would be $3,325.

6 0

2 years ago

Harrison Corp. wants to raise its level of service to enhance customer experience. The board of directors sent out an email cont

romanna [79]

Answer:

Downward communication

Explanation:

Downward communication in a formal structure is the flow of information in terms of orders, appreciation, encouragement from higher authority to subordinates across the organization.

Upward communication in the form of feedback and problems flow from lower level employees to upper level. Here, the board of directors are top level employees who have passed the message to the employees to raise the level of service. This is a form of downward communication.

4 0

3 years ago

You have ordered a black sweater from an Internet source but received a pink one instead. The website states that there are no r

kirza4 [7]

<h2>The contract is invalid.</h2>

Explanation:

An online though it has some cons like "cannot touch and feel, color may slightly vary from the original to the picture given, quality cannot be measured, etc".
But the scenario given here is the expected / ordered color is different from the received one and it is wrong that the website is not accepting.
This website is not user-friendly and the fault from the website side is not accepted which once again re-insist the unfriendliness.
Any website should allow the user to do easy exchange and returns because of various reason said in point no.1.
If the website continues with same invalid contract, then it will lose its name and lose the customer too.

6 0

2 years ago

Exercise 118 The information shown below is taken from the accounts of Waverly Corporation for the year ended December 31, 2017.

devlian [24]

Answer:

Explanation:

The preparation of the Cash Flows from Operating Activities—Indirect Method is shown below:

Cash flow from Operating activities - Indirect method

Net income $314,000

Adjustment made:

Add : Depreciation expense $55,000

Add: Amortization of patent $12,000

Less: Gain on sale of building -$15,000

Add: Loss on sale of land $5,000

Add: Decrease in accounts receivable $23,000

Add: Increase in short-term notes payable $8,000

Add: Decrease in inventory $27,000

Less: Decrease in accounts payable -15,000

Total of Adjustments $100,000

Net Cash flow from Operating activities $414,000

Cash flow from Investing activities

Sale of building $85,000

Less: Purchase of equipment -$185,000

Sale of land $40,000

Less: Purchase of delivery van -$33,000

Net Cash flow from Investing activities -$93,000

Cash flow from Financing activities

Proceeds from issuance of common stock $103,000

Less: Payment of cash dividends -$24,000

Less: Payment of mortgage -$75,000

Net Cash flow from Financing activities $4,000

Net Cash flow from Operating activities $414,000

Net Cash flow from Investing activities -$93,000

Net Cash flow from Financing activities $4,000

Net increase (decrease) in cash for the year is $325,000

Add: Cash at beginning of year $205,000

Ending cash balance $530,000

5 0

2 years ago