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3 years ago

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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Suppliers can contribute ideas for product improvement or increased development efficiency.

Alchen [17]

Hello,

Here is your answer:

The proper answer to this question will be option B "false". Thats because suppliers are the people that are paid to deliver the goods (or products) to a business. He or she has no input about how to run the business!

Your answer is B.

If you need anymore help feel free to ask me!

Hope this helps!

3 0

3 years ago

On August 1 of the current year, Jamie Simmons received $5,400 for legal services to be performed evenly throughout the next six

Zepler [3.9K]

Answer:

$900 is the correct answer

Explanation:

The reason is that according to the accrual basis the earnings must be realized when they are earned. In the question it is clearly stated that the earnings per month are $900 ($5400/6months). As services for the five months are delivered and the remainder left is of only one month. So the earnings that will be realized in the accounting books will be:

Dr Unearned Revenue $4500

Cr Revenue Earned $4500

Furthermore, the amount left in the unearned revenue account will be $900 ($5400-$4500).

6 0

3 years ago

g A U.S. firm buys sardines from Morocco and pays for them with U.S. dollars. Other things the same, U.S. net exports a. increas

Roman55 [17]

Answer:

d. decrease, and U.S. net capital outflow decreases.

Explanation:

net exports = total exports - total imports

in this case, imports increase, so net exports will decrease

The net capital outflow represents the money being invested in a country. If foreign investors invest in the US economy then the net capital outflow will increase. But if US investors invest in foreign economies, the net capital outflow will decrease. In this case, the US company paid the foreign company in US dollars, therefore, the foreign company now has a US asset (US dollars).

6 0

3 years ago

1. Suppose the Glucometer company is to sell the machine only to hospitals, and the company will maintain the Glucometer machine

MArishka [77]

Answer:

Note: The full question is attached as picture below

Glucometer company's Total cost can be calculated as $3000 + $500*4 = $5000

Also we can find the customers served in four years of visit = 80*300*4 = 96,000 customers

Also, by estimating that each customer pays $1 for utilizing the machine, the hospitals can make an estimated revenue of $96000.

=> Anything below the range of $96,000 will be an advantage for the hospitals and anything to the rise of $5,000 will be an advantage for the Glucometer Company.

Thus the price of these machines should be decided between the ranges to collate on the revenue goals of the Glucometer Organization.

8 0

3 years ago

The banking panic of 1907 and the resulting cash shortage led to the formation of the: A. Federal Reserve System.B. Comptroller

AlekseyPX

The banking panic of 1907 and the resulting cash shortage led to the formation of the Comptroller of the Currency.

<u>Explanation:</u>

The Office of the Comptroller of the Currency (OCC), established by National Currency Act of 1863 serves to supervise, regulate and charter all national banks, thrift institutions and all the other federally licensed branches in US. The current Comptroller of the Currency is Joseph Otting.

The banking panic of 1907 has been a main motivation in creating the 3rd central banking system in 1907–1913. This was initiated by failed speculation that led to bankruptcy of 2 brokerage firms.

The public started to panic that the trust and banking industries were experiencing liquidity crunches and had the currencies only to meet short-term or immediate obligations. This caused bank runs and set off the financial panic of 1907 nationwide and it lasted for months.

5 0

3 years ago