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Yuri [45]
3 years ago
7

From the following ledger balances, prepare a trial balance for the Whispering Winds Corp. at June 30, 2022. All account balance

s are normal.
Accounts Payable $8,300 Service Revenue $7,300
Cash $7,700 Accounts Receivable $4,300
Common Stock $22,500 Salaries and Wages Expense $3,500
Dividends $2,100 Rent Expense $2,300
Equipment $18,200.
Business
1 answer:
bonufazy [111]3 years ago
5 0

Answer:

Realidades 2 WKBK page 109

Explanation:

Realidades 2 WKBK page 109

You might be interested in
Annual depreciation rates are (a) buildings (4%) (b) equipment (10%). Salvage value is estimated to be 10% of cost.
GrogVix [38]

Answer:

depreciation expense 5,800   debit

      acc dep - building              4,320  credit

      acc dep - equipment          1,480  credit

<u>Missing information</u>

GRECO RESORT TRIAL BALANCE AUGUST 31, 2014

Buildings 120,000 Equipment 16,000

Explanation:

First, calcualte the depreciable amount:

cost less salvage value:

120,000 - 10% = 120,000 * (1 - 0.1) = 108,000

Now we multiply this by the depreciation rate which represent 1/useful life

108,000 x 4% = 108,000 x 0.04 = 4,320

We do the same with the equipment

16,000* (1 - 0.1) = 14,800 amount subject to depreciation

14,800 * 10% = 14,800 x 0.1 = 1,480

he adjusting entry will debit the depreciation expense and increase the accumulated depreciation of eahc asset

6 0
3 years ago
Consider an industry in which chief executive ocers (CEOs) run rms. There are two types of CEOs: exceptinal and average. There i
klemol [59]

Answer

The answer and procedures of the exercise are attached in the following 3 images.

Explanation  

Please consider the data provided by the exercise. If you have any question please write me back. All the exercises are solved in 3  sheets with the formulas indications.  

8 0
3 years ago
When considering the economic prospects of a country, it can be said that Group of answer choices the advantages of building bra
tankabanditka [31]

Answer:

Options 1 - 4 are True but 5 is FALSE

Explanation:

All options given are indicators of economic growth and strong economic performance

When considering the economic prospects of a country, it can be said that: 1. the advantages of building brand loyalty and gaining experience in a country's business practices is greater for a last-mover than for a first-mover <em>because the last-mover has the chance to learn from the mistakes of the first-mover and perfect on them</em>

2. countries which do not have property rights protection tend to achieve greater economic growth rates because<em> </em><em><u>prosperity and property rights are inextricably linked</u></em><em>. The importance of having well-defined and strongly protected property rights is now widely recognized among economists and policymakers</em>

3. the economic system and property rights regime are reasonably good predictors of economic prospects of a country because <em>widely accepted explanation is that </em><u><em>well-enforced property rights provide incentives for individuals to participate in economic activities, such as investment</em></u><em>, innovation and trade, which lead to a more efficient market.</em>

4. countries where property rights are not well respected and where corruption is rampant always have very low levels of economic growth because as stated in 3 above <u><em>ill-enforced property rights does not provide incentives for individuals to participate in economic activities, such as investment</em></u><em>, innovation and trade, which lead to a more efficient market.</em>

5.countries with command economies tend to achieve greater economic growth rates than free market economies.

<em>This is FALSE because one of the Command economy disadvantages include lack of competition and lack of efficiency. </em>

<em />

5 0
3 years ago
Read 2 more answers
Why has caricom produced limited improvements in interregional trade??
Kobotan [32]

CARICOM or the <span>Caribbean Community and Common Market solely reason for existence is to promote the economic integration to guarantee the benefits and shared equitably. The mainly cause for CARICOM in producing limited improvements is because majority of the English speaking  country illustrates the division </span><span>deep linguistic in Caribbean </span>

3 0
3 years ago
Dudley Savings Bank wishes to take a position in Treasury bond futures contracts, which currently have a quote of 110 − 100. Dud
Aneli [31]

Answer:

a. Long

b. $375.00

Explanation:

a. If interest rates decrease over the period of investment, Treasury bond prices will increase. Thus, Dudley Savings Bank should take a long position in the futures contracts on the Treasury bonds. As T-bond prices go up, so will T-bond futures prices.

b. Given a long position:

Net profit = Sale price of futures − Purchase price of futures

= $107,687.50 − $107,312.50 = $375.00

Purchase price of futures = 107 − 100 = 107 10/32% × $100,000 = $107,312.50

Sale price of futures = 107 − 220 = 107 22/32% × $100,000 = $107,687.50

Explanation:

3 0
3 years ago
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