The following refers classification of space except

Golden Eagle Company prepares monthly financial statements for its bank. The November 30 adjusted trial balance includes the fol

lilavasa [31]

Answer:

Given Below

Explanation:

Golden Eagle Company

General Journal 

Adjusting Entries December 31st 

Sr. No Particulars Debit Credit

1. Supplies Expense $ 1000 Dr.

Supplies Account $ 1000 Cr.

The supplies that were at the end of Nov have been used and new supplies purchased are still on hand.

2. Insurance Expense $ 1000 Dr.

Prepaid Insurance 1,000 Cr.

Insurance cost is $1,000 per month. Insurance of $1000 expired during the month of December.

3. Salaries Expense $ 14000 Dr.

Salaries Payable $ 14000 Cr.

Salaries for December owed for December are $14,000.

4. Unearned Revenue $ 500 Dr.

Revenue Earned $ 500 Cr.

Defered Revenue earned at the end of December.

3 0

3 years ago

Peter owns an auto dealership. Peter hires Cara as a receptionist, Ben as a salesperson, Stacy as a mechanic, and the "Clean as

drek231 [11]

Answer:

d. Emeralda from " Clean as a Whilte Co." runs over patty Pedestrain in the dealership's parking lot.

Explanation:

Liability is the degree to which a person is responsible for injury that happens to another party in a lawsuit. Peter owns an auto dealership. Peter hires Cara as a receptionist, Ben as a salesperson, Stacy as a mechanic, and "Clean as a Whistle Co." as cleaners.

Peter will be least liable if Emralda from "Clean as a Whistle Co." runs over Patty I'm the dealership's parking lot.

This is because Peter hired the company as a seperate entity from the cleaning company employees. The conduct of employees from the cleaning company is responsibility of "Clean as a Whistle Co."

8 0

3 years ago

Jones Corp. reported current assets of $196,000 and current liabilities of $138,500 on its most recent balance sheet. The curren

myrzilka [38]

Answer:

0.74

Explanation:

Jones corporation reported a current assets of $196,000

The current liabilities is $138,500

The current assets consists of $61,000 cash , account receivable= $42,100, inventory= $92,900

Therefore the quick ratio can be calculated as follows

= cash + account receivables

= $61,000 + $42,100

= $103,100

$103,100/$138,500

= 0.74

Hence the acid test(quick ) ratio is 0.74

4 0

3 years ago

Valorous Corporation will pay a dividend of $2.00 per share at this year's end (at t = 1) and a dividend of $2.50 per share at t

seraphim [82]

Answer:

The maximum price that should be paid for one share of this stock today is $46.86

Explanation:

Using the dividend discount model, we can calculate the price/fair value of the stock today. The DDM bases the price of the stock on the present value of the expected future inflows from the stock in the form of dividends and terminal value. The discount rate used to discount the cash flows is the cost of equity or required rate of return on stock.

The price of this stock at time zero (t=0) will be,

Prcie = 2 / (1+0.08) + 2.5 / (1+0.08)^2 + 50 / (1+0.08)^2

Price = $46.86

8 0

2 years ago

Niles Co. has the following data related to an item of inventory: Inventory, March 1 110 units @ $1.10 Purchase, March 7 210 uni

pantera1 [17]

Answer:

The value assigned to ending inventory if Niles uses "weighted average" is $320 ( to 160 units @ $2 )

Explanation: Number of units Price per unit Total

Purchases on March 1 = 110 $1.10 $1,21

Purchases March 7 = 210 $2.10 $441

Purchases March 16 = 110 $2.70 $297

Inventory on March 31 = 160 $2.00 $320

Weighted Average Inventory value = Accumulated Value / Total Number of units

Weighted Average Inventory value = ( 121 + 441 + 297 ) / ( 110 + 210 + 110 )

Weighted Average Inventory value = 1.997674419 = $2.00

7 0

3 years ago