Answer:
Demon Deacons Corporation
Adjusted Trial Balance:
Demon Deacons Corporation is presented below.
Accounts Debit Credit
Cash $ 9,400
Accounts Receivable 14,400
Prepaid Rent 4,320
Supplies 740
Deferred Revenue $ 1,800
Salaries Payable 700
Common Stock 11,000
Retained Earnings 5,400
Service Revenue 47,480
Salaries Expense 32,700
Rent Expense 2,160
Supplies Expense 2,660
$ 66,380 $ 66,380
Explanation:
a) Data and Calculations:
The December 31, 2021, unadjusted trial balance for
Demon Deacons Corporation is presented below.
Accounts Debit Credit
Cash $ 9,400
Accounts Receivable 14,400
Prepaid Rent 6,480
Supplies 3,400
Deferred Revenue $ 2,400
Common Stock 11,000
Retained Earnings 5,400
Service Revenue 46,880
Salaries Expense 32,000
$ 65,680 $ 65,680
Adjustments:
DR Rent Expense $2,160 CR Prepaid Rent $2,160
DR Deferred Revenue $600 CR Service Revenue $600
DR Salaries Expense $700 CR Salaries Payable $700
DR Supplies Expense $2,660 CR Supplies $2,660
Answer:
12.3%
Explanation:
In this question, we are asked to calculate what is believed a 2-year market security will be yielding, 4 years from now
To calculate this, we proceed mathematically;
2 year yield 4 years from now = [ ( 1 + 0.0765)^6 / ( 1 + 0.054)^4]^1/2 - 1
2 year yield 4 years from now = [ 1.5563 / 1.2341]^1/2 - 1 = 0.123
2 year yield 4 years from now = 0.123
2 year yield 4 years from now = 12.3%
Answer:
c
Explanation:
customers surplus is going to decrease due to the tax increase, some of the customers may not afford and that may affect Arkanas financial performance
Answer:
a. Income Statement for the month of October 2022
<u>Revenue:</u>
Service revenue $19,540
<u>Expenses:</u>
Salaries and Wages $2,800
Supplies Expenses $360
Depreciation Expenses $260
Interest Expenses <u>$350 </u>
Total Expenses <u>$3,770</u>
Net Income <u>$15,770</u>
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b. Retained earnings statement for the month of October 2022
Retained Earnings, October 1, 2020 $0
Add: Net Income <u>$15,770 </u>
Retained Earnings, October 31, 2020 <u>$15,770</u>
Answer:
D. Reimbursement
Explanation:
A principal may be defined as a company's agent dealing with a contractor. The principal has the duty to reimburse an agent for the amount of money used up while carrying out his/her duty. Reimbursement may be from expenses like cost of travelling, cost of meals, cost of lodging and so on. In other words, if an agent makes authorized spending while doing a job for the principal, the principal has the duty to reimburse the agent for the money spent.
