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mezya [45]
2 years ago
14

On June 1, 2019, Cain Company, a new firm, paid $4,300 rent in advance for a five-month period. The $4,300 was debited to the Pr

epaid Rent account. On June 1, 2019, the firm bought supplies for $7,250. The $7,250 was debited to the Supplies account. An inventory of supplies at the end of June showed that items costing $2,950 were on hand. On June 1, 2019, the firm bought equipment costing $44,160. The equipment has an expected useful life of 8 years and no salvage value. The firm will use the straight-line method of depreciation. Prepare end-of-June adjusting entries for Cain Company.
Business
1 answer:
strojnjashka [21]2 years ago
3 0

Answer:

S/N    Account and Explanation             Debit     Credit

1.        Rent expense                                  $860

         ($4,300 / 5 month)

                Prepaid rent                                             $860

         (To record adjusted rent expense)

2.      Supplies expense                            $4,300

        ($7,250 - $2,950)

               Supplies                                                     $4300

        (To record adjusted supplies)

3.      Depreciation expense                      $460

        (($44,160/8)/12)

                Accumulated depreciation                       $460

        (To record depreciation)  

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Answer:

1.which of the following is a type of business structure?  

a. sole proprietorship  

b. partnership  

c. corporation

<em>d. all of the above  </em>

2.location, utilities, employees and suppliers are all examples of costs.  

<em>true</em> or false  

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<em>true </em>or false  

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5. define ethics  

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4 0
3 years ago
Cioffi Manufacturing Company incorporates standards in its accounts and identifies variances at the time the manufacturing costs
valina [46]

Answer:

A. Dr Materials $18,825

Dr Direct Materials Price Variance $8,575

Cr Accounts Payable $127,400

B. Dr Work in Process $97,000

Cr Direct Materials Quantity Variance $4,850

Cr Material 92,150

Explanation:

Preparation of the journal entries

A. Dr Materials $18,825

(2,450*$48.50 per unit)

Dr Direct Materials Price Variance $8,575

[2,450*($52.00 per unit-$48.50 per unit)]

Cr Accounts Payable $127,400

(2,450*$52.00 per unit)

B. Dr Work in Process $97,000

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2 years ago
What are the sources of business rules, and what is the database designer's role with regard to business rules?
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3 years ago
Compute the takt time for a service system that intended to perform a standardized service. The system will have a total work ti
masya89 [10]

Answer:

Talk time will be 3.728 minutes

Explanation:

We have given total work time = 392 minutes per day

There are two breaks of 15 minutes

So time of break = 15×2 = 30 minutes

And there is a lunch of 1 hour = 60 minutes

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6 0
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Answer:

point A was a point below the economy's Production-Possibility Frontier  (PPF) or the economy's PPF could have shifted outward and point A was a point on the economy old PPF.

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