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3 years ago

Consider the following transactions for Huskies Insurance Company:

Business

1 answer:

PilotLPTM [1.2K]3 years ago

6 0

Answer:

31-Dec

Dr Depreciation expense $7,000

Cr Accumulated Depreciation - Equipment $7,000

31-Dec

Dr Interest receivable $1,750

Cr Interest revenue $1,750

31-Dec

Dr Deferred Revenue $4,000

Cr Revenue or Service Revenue $4,000

Explanation:

Preparation of the necessary adjusting entry for Huskies Insurance at its year-end of December 31.

31-Dec

Dr Depreciation expense $7,000

Cr Accumulated Depreciation - Equipment $7,000

(Being to adjust 12 month depreciation)

31-Dec

Dr Interest receivable ($50,000 x 7% x 6/12) $1,750

Cr Interest revenue $1,750

(Being to adjust 6 month interest revenue accrued)

31-Dec

Dr Deferred Revenue ($16,000 x 3/12) $4,000

Cr Revenue or Service Revenue $4,000

(Being to record earned revenue for 3 months)

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Identify the type of unemployment for the following scenarios:

nirvana33 [79]

Answer:

1) b)Frictional

2) c) Cyclical

3) a) Structural

Explanation:

1) Caroline just graduated from college and is looking for a full-time position with an investment banking firm.

FRICTIONAL.

This is a situation of frictional unemployment, which occurs when there is mobility of labor and workers. It occurs in a natural situation, at the time when individuals are looking for a job.

2) Frances is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.

CICLYCAL.

This is a situation that occurs when the economy of a locality cannot sustain the condition of full employment, it can occur in a situation of slow economic growth or certain setbacks.

3) Antonio recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training.

STRUCTURAL.

Structural unemployment occurs when there is not a sufficient number of jobs in a given sector, which can result from several different variables, such as the incompatibility between the vacancies available and the skills of workers.

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3 years ago

An individual or a company may challenge agency action where such action is _____:

monitta

There may be presence of challenge in an individual or a company when an action is triggered such as having to trigger unwarranted by facts in which will rise challenge and rivalries among the group or in the company itself.

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4 years ago

You invest $1,000 now, at an annual simple interest rate of 6%. What is the effective rate of interest in the fifth year of your

Delvig [45]

Answer:

The effective rate of interest in the fifth year is 6.15%

Explanation:

Mathematically, the effective rate of interest can be calculated as follows;

Reff = (1 + r/y)^y - 1

where;

r is the interest rate = 6% = 6/100 = 0.06

y is the period = 5 years

Substituting these values;

Reff = (1 + 0.06/5)^5 - 1

Reff = (1 + 0.012)^5 - 1

Reff = 1.012^5 - 1

Reff = 1.061457 - 1

Reff = 0.0615 which is 6.15%

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3 years ago

Nutrient cycling and purification of water are both examples of

ira [324]

Answer:

Nutrient cycling and purification of water are both examples of Essential Services

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2 years ago

RESTAURANT RESEARCH SCENARIO - Insight Research, a marketing research company, has been hired by a national chain of family rest

maks197457 [2]

Answer:

Employees attitude to customers (Customer Relationship) and the quality of the food are the two most important trends that would bring about an increase in sales.

Explanation:

The first instrument of effective sales is an establish relationship. If a customers visits a restaurant to buy food and does not feel welcomed, the tendency to return back another time is very slim. Hnece, taking the scenerio in questions,the employees do not have the right attitude for keepiing their customers loyal to their product irrespective of whether the product is good or bad.

On the other hand, the reason for visiting a restaurant is to eat good food and not bad. So, when the quality of food cooked by the restaurant does not meet the taste and quality expected by the customer, the possibility of having such customer come around again is low. This invariably implies loosing the customer and the chain of connections such customer would have brought to the restaurant.

In summary, having the right employees with good customer relationship and chefs with good food recipes and quality is likely to result in the restaurant experiencing an increase in sales

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4 years ago