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3 years ago

1. Define Trade, Import and Export 2. List items the U.S. imports and exports.

Business

1 answer:

jasenka [17]3 years ago

4 0

Answer:

food and clothing

Explanation:

import is to bring things from a different country for sale. export is to give things to a different country or place for sale. trade is to transfer or exchange something from a different country.

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The ledger of Beckett Rental Agency on March 31 of the current year includes the selected accounts below before adjusting entrie

Anastaziya [24]

Explanation:

The adjusting journal entries are shown below:

1. Depreciation Expense A/c Dr $ 840 ($280 × 3 months for one quarter)

To Accumulated Depreciation - Equipment A/c $840

(Being depreciation expense is recorded)

2. Unearned Rent Revenue A/c Dr $6,200 ($12,400 ÷ 2)

To Rent Revenue A/c. $6,200

(Being half rent revenue earned is recorded)

3. Interest Expense A/c Dr $400

To Accrued Interest A/c $400

(Being accrued interest is recorded)

4. Supplies Expense A/c $2,150

To Supplies A/c $2,150

(Being the supplies expense is recorded)

The supplies expense is computed below

= Supplies balance - supplies on hand

= $3,000 - $850

= $2,150

5. Insurance Expense A/c Dr $1,200 ($400 × 3 months in one quarter)

To Prepaid Insurance A/c $1,200

(Being the insurance expense is recorded)

8 0

3 years ago

________ are special incentives or excitement-building programs that encourage consumers to purchase a particular product, often

Ahat [919]

Answer: Sales promotion

Explanation: Sales promotion are special sales program used to draw customers to a particular product by applying price cuts for a particular period. Sales promotion are used simultaneously with adverts to pull customers to their product.

6 0

3 years ago

At December 31, Tremble Music had account balances in Accounts Receivable of $300,000 and in Allowance for Uncollectible Account

anzhelika [568]

Answer:

The balance of uncollectible accounts after the adjustment will be $15,000

Explanation:

On December 31, the balance of the accounts receivable is $300,000 and on same data it is suggested that the 5% of the account receivable will be not be collected.

So, the balance of the uncollectible accounts will be computed as:

Uncollectible accounts = Account receivable balance × % which will not collected

where

Account receivable balance is $300,000

% which will not be collected is 5%

Putting the values above:

= $300,000 × 5%

= $15,000

NOTE: The allowance for uncollectible accounts of $1,000, already credited, so will not be considered again.

8 0

3 years ago

Several years ago Brant, Inc., sold $900,000 in bonds to the public. Annual cash interest of 9 percent ($81,000) was to be paid

gtnhenbr [62]

Answer:

The Journal entries are as follows:

(1) On December 31, 2016

Bonds payable A/c Dr. $154,040

Interest income A/c Dr. $14,070

Loss on retirement of debt A/c Dr. $49,000

To investment in bonds $198,870

To Interest expense $18,240

(To record consolidation entry)

(2) On December 31, 2018

Bonds payable A/c Dr. $158,884

Interest income A/c Dr. $13,761

Investment in Zack A/c Dr. $40,266

To investment in bonds $194,152

To Interest expense $18,759

(To record consolidation entry)

Workings:

Interest expense for December 31, 2016:

Book value = 20% of Bond liability (as per equity method)

= 0.2 × $760,000

= $152,000

Interest expense = 12% of Book value

= 0.12 × $152,000

= $18,240

Interest expense for December 31, 2016:

= 12% of Book value

= 0.12 × $156,325

= $18,759

7 0

3 years ago

On January 1, 2020, Beyonce Co. purchased 25,000 shares (a 10% interest) in Elton John Corp. for $1,400,000. At the time, the bo

Drupady [299]

Answer: $‭4,688,250‬

Explanation:

Carrying value on Jan 1, 2021:

= Interest + share of net income Dec 31,2020

= 1,400,000 + (10% * 700,000)

= $1,470,000

Carrying value, June 2021:

= Carrying value + share of net income

= 1,470,000 + (10% * 500,000)

= $1,520,000

Carrying value, July 2021:

= Carrying value + Net stake purchased

= 1,520,000 + 3,040,000

= $4.560,000

Carrying value, December 2021

= Carrying value + share of net income - share of dividends

= 4,560,000 + (30% * 815,000) - (1.55 * (25,000 + 50,000 shares))

= $‭4,688,250‬

8 0

3 years ago