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3 years ago

Plzzzzzz help me i need help

Business

1 answer:

Alex777 [14]3 years ago

7 0

It increases equity.
When he buys it on credit he is increasing what he owes.

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The unadjusted trial balance of Sketch Star Makers Inc., prepared as of December 31, 2018, includes the following account balanc

tino4ka555 [31]

Answer:

Explanation:

The adjusting entries are shown below:

1. Supplies expense A/c Dr $1,500

To supplies A/c $1,500

(Being supplies account is adjusted)

The supplies expense is computed by

= Supplies balance - supplies on hand

= $2,800 - $1,300

= $1,500

2. Insurance expense A/c Dr $1,320 ($6,600 ÷ 5 years)

To Prepaid Insurance $1,320

(Being prepaid insurance is adjusted)

3. Depreciation Expense A/c Dr $1,900

To Accumulated Depreciation - Equipment A/c $1,900

(Being depreciation expense is recorded for 2018)

4. Deferred revenue A/c $4,750 ($9,500 × 50%)

To Service revenue $4,750

(Being Deferred revenue is recorded)

5. Salaries and wages expense A/c Dr $2,900

To Salaries and wages payable A/c $2,900

(Being accrued salaries and wages are recorded)

5 0

3 years ago

Selected information from Gerrard, Inc.’s financial activities in the year 2004 was as follows: Net income was $330,000. The tax

ValentinkaMS [17]

Answer:

$0.26

Explanation:

diluted earnings per share (EPS) = (net income - preferred dividends) / (weighted average outstanding shares + diluted shares)

net income = $330,000

preferred dividends = 2,000 x $500 x 8% = $80,000. Since the preferred stocks are convertible, they will be considered diluted shares. Therefore, no preferred dividends will be included in the calculation.

weighted average outstanding shares:

January 1 = 700,000 x 12/12 = 700,000
March 1 = 200,000 x 10/12 = 166,666.7
total weighted average = 866,666.7

diluted shares = 2,000 preferred stocks x 200 = 400,000

diluted EPS = $330,000 / (866,666.7 + 400,000) = $0.260526247 ≈ $0.26

8 0

3 years ago

Alice earned $12 per hour. What equation shows the relationship between her

LenaWriter [7]

The equation shows the relationship between her weekly salary (w), hours per week (h), and rate per hour (r) is:

$w = h \times r$

Solution:

Given that,

Alice earned $12 per hour

1 hour = $ 12

Find the number of hours in 1 week

1 day = 24 hours

1 week = 7 days

Therefore,

1 week = 7 x 24 = 168 hours

Let "h" be the hours per week

let "r" be the rate per hour

Let "w" be the rate per hour

From given,

r = $ 12

h = 168 hours

weekly salary = hours per week x rate per hour

$w = h \times r$

$w = 168 \times 12\\\\w = 2016$

Thus, she earns $ 2016 for 1 week

5 0

3 years ago

Read 2 more answers

Sarafiny Corporation is in the process of preparing its annual budget. The following beginning and ending inventory levels are p

adoni [48]

Answer:

Production 830,000

Explanation:

$$$Beginning Inventory + Purchase = Ending Inventory + COGS$

- FG(units)

Beginning 31,000

Ending 81,000

Sales 780,000

Production 830,000

sales + ending - beginning = production

We are asked for the finished good units to produce.

The raw materials are irrelevant in this question.

4 0

3 years ago

One of the usual differences between financial and managerial accounting is the time dimension of the information reported.

AlladinOne [14]

False management account is the time

5 0

3 years ago