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oksian1 [2.3K]
3 years ago
10

Great Kids Co. began providing day care for the children of employees of a large corporation on January 15 for an agreed monthly

fee of $9,000. The first payment is to be received on February 15. The adjusting entry required by Great Kids Co. on January 30 includes:
Business
1 answer:
miv72 [106K]3 years ago
8 0

Answer:

A. A credit to Child Care Fees Earned of $4,500.

Explanation:

The journal entry to record this given transaction is given below:

Cash A/c Dr $4,500  

      To Child Care Fees Earned A/c $4,500

(Being the fees earned is recorded)

As the payment is collected that means cash balance is rise so it debited the cash account and credited the child care fees earned account.

As The monthly fee is $9,000 but we have to determine for 15 days, so it is

= $9,000 ÷ 2

= $4,500

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A special tax was levied by Downtown City to retire and pay interest on general obligation bonds that were issued to finance the
jonny [76]

Answer:

C. Debt Service Fund.

Explanation:

Dept service funds can be described as monies or reserves which are been used to pay for capitals, interest and certain dept that have accrued by the company and it can cover for any other form of dept owed by the company.

It's existence is put in place to reduce the risk of a debt security for future investors. This can be paid out monthly mid-monthly, quarterly or possibly yearly.

This why the tax on general obligation bonds that has been put upon Downtown city to finance the hall has it receipts in place at the dept service fund office.

5 0
4 years ago
When society produces the combination of goods and services on the ppf that it values the most highly, society has?
Brums [2.3K]
When society produces the combination of goods and services on the PPF that it values the most highly, society has Allocative efficiency. PPF is defined as the public provident fund, and Allocative efficiency<span> is the point in which the preference of the product consumption is balanced in production levels in an economy. This is specifically related to the benefit of a product or service being equivocal to the cost of making it, directly reflective of consumer preferences. 
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3 0
4 years ago
What is a key advantage of a corporation
Vinvika [58]

Answer:

Advantages of a corporation include limited liability for its shareholders, a perpetual existence and ease of transferring ownership interests

Explanation:

https://www.justia.com/business-formation/docs/corporation-advantages-disadvantages/

7 0
3 years ago
Kim​ Airedale, a manager of​ Waggers, Inc., was reviewing the water bills of a dog daycare and spa. She determined that its high
Fiesta28 [93]

Answer:

The variable cost is $2.67 per dog.

Explanation:

The variable cost per unit can be determine by using the highlow method to separate the variable component of the given mixed cost. the variable cost is the one that varies with the level of output. Under high low method, we calculate the variable cost per unit by using the following formula:

Variable cost per unit = (Cost at highest activity level - cost at lowest activity level)  /  (Highest activity level in units - lowest activity level in units)

Variable cost per unit = (3600 - 2800)  /  (500 - 200)

Variable cost per unit = $2.67 per dog

7 0
4 years ago
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Question 1 of 10
Fantom [35]

Answer:

C

Explanation:

A. P. E. X

6 0
3 years ago
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