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Elza [17]
2 years ago
14

Jefferson Cleaning signed an agreement with Willis Company on December 15 to provide cleaning services every Friday. The service

s will be billed to Willis Company on the fifteenth of each month at a rate of $15 per hour. As of December 31, Jefferson Cleaning had provided 15 hours of cleaning services to Willis Company. Which of the following is the required adjusting entry that Jefferson Cleaning should make on December 31?
a. Debit Accounts Receivable, $225; credit Fees Earned, $225
b. Debit Fees Earned, $225; credit Accounts Receivable, $225
c. Debit Accounts Payable, $225; credit Fees Earned, $225
d. Debit Fees Earned, $225; credit Accounts Payable, $225
Business
1 answer:
uysha [10]2 years ago
5 0

Answer:

Debit Accounts Receivable, $225; credit Fees Earned, $225

Have a fantastic Day!

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The returns of a capital amount to a compensation rate for depositing the money, to calculate these returns an interest rate is used by which the deposited capital is multiplied, in this case the rate is 4%.

As the money distributed is only the product of interest, then that money is the result of multiplying the capital by the interest rate, to obtain how much money Mr. Jefferson contributed, the reverse process will have to be done.

Answers

let <em>C</em> be the capital, then :

C\times4 \%  = 170500\\C\times\frac{4}{100}= 170500\\C=170500\times\frac{100}{4}\\C=4262500

The capital contributed by Mr. Jefferson was <em>$4,262,500</em>

3 0
3 years ago
Read 2 more answers
If a company reports profit margin of 33.1% and investment turnover of 1.20 for one of its investment centers, the return on inv
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If the investment turnover is  1.20 for one of its investment centers, the return on investment must be: 39.72%.

Using this formula

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Where:

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Investment turnover=1.20

Let plug in the formula

Return on investment = 0.331×1.20

Return on investment = 0.3972×100

Return on investment = 39.72%

Inconclusion If the investment turnover is  1.20 for one of its investment centers, the return on investment must be: 39.72%

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Assume that salaried employees of Mayer, Inc., earn 2 weeks of vacation per year. The salaried employees earn a total of $160 ea
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Answer:

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Cr To Vacation Benefits Payable $160

Explanation:

Journal entry for Mayer

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3 years ago
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To increase production by 1000 units

Total cost is $10 + $20 = $30

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When a u.s. airplane manufacturer sells its airplanes to business executives in germany without using intermediaries, it is refe
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