Answer:
$2,100
Explanation:
Data provided in the question
Prepaid rent account before adjustment at the end of the month = $2,800
And, the monthly rent is $700
So, the amount of prepaid rent after adjustment is
= Prepaid rent account before adjustment at the end of the month - the monthly rent
= $2,800 - $700
= $2,100
Basically we deduct the monthly rent from the prepaid rent balance before adjustment
Answer:
O $2,300,000
Explanation:
When fees are received in advance but yet to be earned, a debit is posted to cash account and a credit to magazine subscriptions collected in advance account.
When revenue is earned credit Magazine subscriptions revenue, and debit magazine subscriptions collected in advance.
Given that the magazine subscriptions collected in advance account had a balance of $1,700,000 at December 31, year 1 and cash receipt in year 2 from subscribers was $2,100,000 while the revenue generated in that year was $1,500,000
The balance for magazine subscriptions collected in advance
= $1,700,000 + $2,100,000 - $1,500,000
= $2,300,000
Answer: True
Explanation:
Public safety simply means the protection of the public or the safeguarding of people from disasters, crimes, and every other potential threats and dangers.
It should be noted that public safety I the responsibility of every government in the United States, and some community colleges provide training for some careers in public safety.
Therefore, the answer is true.
A.) has to be paid by the debtor
Answer:
a. Carol's transfer price is $6 per meal if she only recovers the variable costs.
b. $13,5 per meal
c. $27000 or a loss of $1.5 per meal.
d. The cost of the cafeteria should be charged to the user departments so that the actual profit or loss from each department can be valued
Explanation:
a. Variable costs = $108000 for 18000 meals.
Variable cost per meal = 108000 / 18000 = $6
Carol's transfer price is $6 per meal if she only recovers the variable costs.
b. If carol were to recover the full cost then the transfer price = Total cost / no. of meals
= (108000 + 135000) / 18000 = $13,5 per meal
c. If the transfer price is the market price i.e $12, the loss from the cafeteria = Revenue from meals - Total cost
= (18000 x 12) - (108000 + 135000)
= $27000 or a loss of $1.5 per meal.
d. The cost of the cafeteria should be charged to the user departments so that the actual profit or loss from each department can be valued.
This information is useful to the hospital management in knowing the actual costs of the meals consumed in the various departments and how the cost cutting measures can be implemented based on the cost of the different departments.