1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Mnenie [13.5K]
3 years ago
12

Macro Company has the following adjusted accounts and balances at June 30:

Business
1 answer:
leva [86]3 years ago
7 0

Answer:

                                            <em> Debit              Credit</em>

                                                  $                   $

Cash                                        1000  

Account receivable                 530  

Supplies                                   690  

Prepaid rent                             40  

Software                                   190  

Equipment                                1380  

Accumlated depreciation                             230

Accumlated Amortization                             140

Account payable                                           80

Income tax payable                                       30

Unearned revenue                                        90

Notes payable                                               1280

Common stock                                              280

Retained earnings                                         110

Sales revenue                                               3530

Interest revenue                                            50

Depreciation expenses                                 100  

Interest expenses                                          170  

Income tax expenses                                    100  

Office expenses                                             800  

Rent expenses                                                380  

Salaries and wages expenses   <u>                    640</u>  

TOTAL                                        <u> 6020          6020</u>

You might be interested in
Bose Company issued $600,000, 14 % bond on January 1
Tasya [4]

Answer:

1) If bonds are issued as 100 entry will be

                                   Debit                                         Credit

Cash                            600,000

Bonds payable                                                              600,000

2) If bonds are issued at 95

                                     Debit                                        Credit

Cash                              570,000

Discount                          30,000

Bonds payable                                                               600,000

3) If bonds are issued at 105

Cash                               630,000

Bonds payable                                                                 600,000

Premium                                                                             30,000

4)

                                        Debit                                           Credit

Interest payable                42,000

Cash                                                                                    42,000

Explanation:

1) If the bonds are issued at 100 then the company will receive the same amount of cash as the face value so they will receive 600,000 cash and will owe the bond buyers 600,000 so they will debit 600,000 cash and credit 600,000 bonds payable.

2) If bonds are issued at 95 then the company will receive cash 95% of 600,000 which is 570,000 so they will debit 570,000 cash, 30,000 will debited as discount and 600,000 bonds payable.

3) If bonds are issued at 105 then the company will receive cash 105% of 600,000 which is 630,000 so they will debit 630,000 cash and will credit 600,000 bonds payable and 30,000 as premium.

4) The bonds are issued on January 1 and there is a journal entry of interest payment at July 1 so we assume that the bond has semi annual payments.

14% of 600,000 is 84,000 and we will divide it by 2 to find the semi annual payment which will be 42,000, so we will debit interest payable by 42,000 and credit cash by 42,000.

6 0
3 years ago
How the consumer motivated to purchase product. what are the critaria and decision making​
kondor19780726 [428]

Answer:

In plain terms, the consumer motivation is the set of cognitive factors driving a customer's determination to make a single sale. The payment is the ultimate product of a "Purchaser's Process" scheme, a three-stage mechanism consisting of:

1.Awareness.

2.Interest.

Determination 

3 0
3 years ago
Who investigates complaints of the Holden Act and takes remedial action as required by law? The Department of Housing and Urban
o-na [289]

Answer:

The Department of Housing and Urban Development

Explanation:

The Holden act or the California Housing Financial Discrimination Act of 1977, <u>states that financial institutions cannot discriminate against people applying for loans or financial assistance,</u> for reasons such as; race, color, ethnicity and religion.

The Holden act is enforced by the Department of Housing and Urban Development.

5 0
3 years ago
The inventory of Oheto Company on December 31, 2017, consists of the following items.
algol [13]

Answer:

a. $335,100

b. $341,300

Explanation:

The computation is shown below:

         (A)             (B)                      (C)       (A × B)          (A × C)

Part  Quantity  Cost per Unit   NRV    Total cost    Total NRV   Lower value

110    600          95                      100       $57,000       $60,000     $57,000

111     1000         60                      52        $60,000       $52,000   $52,000

112    500          80                      76         $40,000       $38,000   $38,000

113    200          170                     180       $34,000        $36,000   $34,000

120   400          205                   208       $82,000        $83,200   $82,000

121a  1600         16                      1             $25,600        $1,600   $1,600

122   300          240                   235       $72,000 $70,500   $70,500

Total                                                         $370,600 $341,300  $335,100

So

a. Under the  LCNRV method, the inventory to each item would be $335,100

b. The total inventory would be $341,300

3 0
3 years ago
What are the characteristics of products that are most suitable to be carried in finished-goods inventory retail stores?
Radda [10]

Explanation:

i want to delete this post

4 0
3 years ago
Read 2 more answers
Other questions:
  • Dan buys a property for $260,000. he is offered a 30-year loan by the bank, at an interest rate of 6% per year. what is the annu
    12·1 answer
  • Honest Abe’s is a chain of furniture retail stores. Integral Designs is a furniture maker and a supplier to Honest Abe’s. Honest
    5·1 answer
  • Steve, an engineer in a construction company, is at present working on a home construction project. the home is being built for
    7·1 answer
  • On November 30, capital balances are Roses $299000, Ellis $258000 and Gise $258000. The income ratios are 20%, 20% and 60%, resp
    5·1 answer
  • Duprey Clinic uses client-visits as its measure of activity. During January, the clinic budgeted for 2,200 client-visits, but it
    15·1 answer
  • Help need ASAP!
    12·1 answer
  • Identify Ten (10) Differences that exist Between
    7·1 answer
  • State courts can review statutes passed by their legislatures to ensure:
    5·1 answer
  • Which LIKE operator would match a single character?<br> ?<br> []<br> #
    13·1 answer
  • Assume that over the past 88 years, u. S. Treasury bills had an average return of 3. 5 percent as compared to 6. 1 percent on lo
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!