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grin007 [14]
3 years ago
6

Ensemble Co.

Business
1 answer:
anastassius [24]3 years ago
4 0

Answer:

Ensemble Co.

UNADJUSTED TRIAL BALANCE

ACCOUNT TITLE                                               DEBIT                CREDIT

1 Cash                                                                42,900

2 Accounts Receivable                                   123,500

3 Prepaid insurance                                         27,000

4 Equipment                                                   300,000

5 Accounts Payable                                                                     52,000

6 Salaries Payable                                                                          4,800

7 Common Stock                                                                         40,000

8 Retained Earnings                                                                   137,200

9 Dividends                                                     5,000

10 Service Revenue                                                                 1,216,000

11 Salary Expense                                       660,000

12 Advertising Expense                              275,000

13 Miscellaneous Expense                                                         16,600

14 Totals                                                   1,466,600              1,466,600

Explanation:

A Trial Balance is used to check for mathematical accuracy. It is a list of Debits and Credit prepared from Ledger Account.

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jarptica [38.1K]

Answer:

Title 1 is "careers" and title 2 is "jobs"

Explanation:

4 0
3 years ago
On January 1, 2018, Red Flash Photography had the following balances: Cash, $21,000; Supplies, $8,900; Land, $69,000; Deferred R
Nutka1998 [239]

Answer:

See explanation

Explanation:

Red Flash Photography

Journal Entries

1. Debit     Cash                 $29,000

Credit       Common Stock               $29,000

(issuing common stock for cash that will increase the cash)

2. Debit    Cash                               $44,000

   Debit    Accounts Receivable    $39,000

 Credit           Service Revenue                   $83,000

(Provided services on account and cash)

3. Debit    Salaries expense            $32,000

Credit               Cash                                     $32,000

(Paid salaries to workers)

4. Debit    Prepaid Rent                   $21,000

Credit               Cash                                     $21,000

(Paid rent in advance for cash)

5. Debit    Supplies                          $31,000

Credit                  Accounts payable            $31,000

(Purchase supplies on account means liability will increase)

6. Debit    Dividends                        $2,900

Credit                   Cash                                 $2,900

(Paid cash dividends to the shareholders)

7 0
3 years ago
Q 4.35: McGinnis Construction is a cash-basis company with a fiscal year-end of June 30. McGinnis’ employees earn a normal weekl
hjlf

Answer: Understatement, $30,900

Explanation:

There will be an UNDERSTATEMENT of McGinnis' net income for the most recent fiscal year of $30,900.

The Understatement arises because as of year end which is June 30th, McGinnis were not paid for their services that cost $40,900 and instead will only be paid on the 8th of the next month so it was not accounted for in the net income.

The reason the net income understatement is $30,900 and not $40,900 is because McGinnis will still have to account for the payment to it's employees. If in a five day week they earn $12,500, that would mean that they earn $2,500 a day (12,500/5). Seeing as June ended on a Thursday, that is a 4 day week which means $2,500*4= $10,000.

That $10,000 will reduce the net income by that amount.

The net effect is a $30,900 UNDERSTATEMENT.

4 0
3 years ago
Turn to Part C of the Systems Analyst’s Toolkit and review the concept of net present value (NPV). Determine the NPV for the fol
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Answer:

$-13,975.91

Explanation:

Net present value is the present value of after-tax cash flows from an investment less the amount invested.  

NPV can be calculated using a financial calculator  

Cash flow in year 0 =  $-95,000

Cash flow in year 1 =  $30,000

Cash flow each year from 2 to 5 =  $20,000

I = 12%

NPV = $-13,975.91

To find the NPV using a financial calculator:

1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.

2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.  

3. Press compute  

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3 years ago
I need HELP!!!!!!!!!!
Brrunno [24]
Answer: D i think

Explanation:
7 0
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