Answer:
c. Dec. 31Fees Earned750 Rent Revenue175 Income Summary925
Explanation:
The journal entry to record the closing of Fees earned and rent revenue is given below:
On Dec 31
Fees earned $750
Rent revenue $175
To Income summary $925
(Being the revenues and fees earned is closed)
For recording this we debited the fees earned and rent revenue and credited the income summary so that the correct recording and posting could be done
Therefore the total amount of $925 is credited to income summary
Answer:
The true statement is "The cumulative translation adjustment account affects the amount of gain or loss reported upon the sale of a foreign subsidiary".
Explanation:
The current technique needs that each one quality and accountability books be interpreted at this rate whereas shareholders’ justice accounts are interpreted at ancient altercation rates. The distinction is mirrored finished the additive conversion alteration, therefore the quantity of improvement or loss according upon the auction of a distant secondary to the additive conversion alteration.
Answer:
$ 0.61 per unit
Explanation:
The unit-of-activity method is one of the asset depreciation methods. Under this method, the depreciable cost of the asset is spread over the units produced. The formula is a more accurate measure of wear and tear.
In this case:
Depreciable cost=(purchase price -salvage value)
=$52000.00 -$3200.00
=$48,800.00
Depreciation per unit= Depricable cost / expected production
=$48,800/80000
=$ 0.61per unit
Answer: Professional benefits.
Explanation:
The company is able to make progress because of the professionalism of both the workers and their manager. An understanding exists between workers and their manager.
Answer:
Neat Clothes
1. Can you explain how did we get 22,400?
The total wages for 2 weeks or 10 days (5 days each) is $32,000. For the weeks under review, only 7 days are worked in June, the remaining 3 days are in July. To calculate June salaries alone the $32,000 is divided by 10 days, to get the wages per day, and then multiplied by 7 days for the seven days in June.
2. Why we divide 7 over 10? What does 7 mean and what does 10 represent?
The 7 means the days of work done in June and 10 represents the 2 weeks for which wages are being calculated.
So, dividing 7 over 10 gives the proportion of June salaries from the total of $32,000.
Explanation:
As above.
