Answer:
$39,960
Explanation:
Considering all the transactions recorded;
When insurance is paid in advance, the entries required are
Debit Prepaid Insurance
Credit Cash account
As time elapses and the insurance expires,
Debit Insurance expense
As such amount that should have been posted to insurance expense
= $5400/3
= $1800
Adjustment required
= $5400 - $1800
= $3600
When a fee is received in advance for a service yet to be rendered, the revenue for such fee is said to be unearned. The entries required are
Debit Cash account and Credit Unearned fees or deferred revenue.
As the service is performed and the revenue is earned, debit Unearned fees and credit revenue.
Hence the revenue will be deducted ($775).
When the inventory closing balance is understated, the cost of goods sold is overstated and as such the net income which is posted to the retained earnings will be understated
. $795
Interest expense to be recognized
= 12% * 3/12 * $22,000
= $660
the proper amount of net income for 2021
= $37,000 - $660 - $775 + $3600 + $795
= $39,960
Answer:
The answer is Social Engineering
Explanation:
_SOCIAL ENGINEERING_______ attacks take advantage of flawed human judgment by convincing the victim to take actions that are counter to security policies.
Answer: The money spent is worth the boost it gives to the corporate image
Explanation:
Corporate social responsibility gives companies a good image and can help a company improve its brand and revenue.
Since the restaurant chain sponsors a charity that provides support to the parents of children being treated for cancer, the use of the funds of the company will be justified when the money that's spent is worth the boost it gives to the corporate image.
Answer:
$91,100
Explanation:
Calculation to determine the total cost of merchandise purchased
Using this formula
Total cost of merchandise purchased = Invoice cost of merchandise purchases + Cost of transportation in - Purchase returns and allowances - Purchase discount
Let plug in the formula
Total cost of merchandise purchased= $100,000 + $500 - $400 - $9,000
Total cost of merchandise purchased= $91,100
Therefore the total cost of merchandise purchased is $91,100
Answer:
C) Buyers purchase more at lower prices.
Explanation:
The question is related to "demand" and "supply" in Economics. <u>When prices of goods are low, the demand increases. </u>This means that more buyers are willing to purchase the goods because<em> they can afford it</em>.
On the contrary, <u>when prices of goods are high, the demand decreases.</u> This means that the<em> high price doesn't attract the buyers</em>, thus<u> decreasing the demand. </u>
So, this explains the answer.