The agent's commission is $5,950
A commission agent acts as a go-between for enterprises of all sizes when dealing with suppliers. A person in this position may operate in a variety of fields, including real estate, sales, and entertainment, as well as throughout the world. Additionally, a commission agent may simultaneously serve multiple companies.
An international agent who receives payment as a percentage of the sales they bring in. The Agent strictly complies with the sale terms specified to it by the Principal while making products available to potential customers in a certain territory (often a country). The Agent's and Principal's relationship is solely business-related; there is no employment connection between them.
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Answer:
rent expense 2400
Prepaid Rent 2400
--expired rent--
Deferred Revenue 750
Service Revenue 750
--acrued revenue--
Salaries expense 700
salaries payable 700
--accrued salaries--
Supplies 3200
supplies expense 3200
--supplies used--
The trial balance is attached.
Explanation:
a) 7,200 is the contract value for 6 months
we divide by 6 month and then, we multiply by 2 month accrued for the year (november and december)
b)we decrease the portion earned and recognize the gain
c) we recognize a liability and the wages expense associate for this wages
d) the difference between the book value and supplies on hand will be considered consumption so, supplies expense
For the ajusted trial balance, we will adjust the balance of eahc account considering the beginning balance
Answer:
8.5%
Explanation:
Avy incorporation has a beta of 1.10
The risk free rate is 3.0%
The market risk premium is 5.0%
Therefore, the required rate of return can be calculated as follows
Required rate of return= Risk-free rate+beta(market Risk premium)
= 3.0% + 1.10(5.0%)
= 3.0%+5.5
= 8.5%
Hence the required rate of return is 8.5%
Answer:
S/n General journal Debit Credit
a Investment in Sanz County bonds $120,000
Interest $800
(120,000*6%*40/360)
Cash $120,800
(The purchase of the bonds on May 11 plus 40 days of accrued
interest; assume a 360-day year.)
b. Cash $3,600
Interest receivable $800
Interest revenue $2,800
(Semiannual interest on October 1)
c. Cash(150* (99%*30,000) - $100) $29,750
Loss on sale of investments $400
Investment in Sanz County bonds $30,000
Interest revenue $150
(Sale of the bonds on October 31)
d. Interest receivables $1,365
Interest revenue $1,365
(Adjusting entry for accrued interest of $1,365 on
December 31, Year 1.)
Answer:
B) False
Explanation:
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