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seropon [69]
3 years ago
6

The trial balance for Pioneer Advertising Inc. is shown below.

Business
1 answer:
Vladimir79 [104]3 years ago
7 0

Answer:

                 Adjusting Entries

<u>October 31, 2017</u>

Supplies expense Dr $1600 ($2300-$700)

Supplies Cr $1600

<u>October 31, 2017</u>

Insurance expense Dr $300

Prepaid insurance Cr $300

<u />

<u>October 31, 2017</u>

Depreciation expense Dr $80

Accumulated depreciation Cr $80

<u>October 31, 2017</u>

Unearned Service Revenue Dr $600

Service Revenue Cr $600

<u />

<u>October 31, 2017</u>

Accounts Receivable Dr $300

Service Revenue Cr $300

<u>October 31, 2017</u>

Interest Expense Dr $90

Interest payable Cr $90

<u>October 31, 2017</u>

Salaries and Wages Expense Dr $1200  

Salaries and Wages Payable Cr $1200

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Two cities are identical in all respects except City A has an assessment ratio of 100% and City B (in another state) has an asse
olga2289 [7]

Available Options are:

A. higher in City A than City B.

B. higher in City B than City A.

C. identical in both cities.

D. dependent on non-property tax revenues in each.

Answer:

Option B. Higher in the city B than in city A.

Explanation:

If we talk about the assessment ration, then it is calculated as under:

Assessment ratio = Value of property assessed by municipality / Fair Market value of the property

This ratio helps in calculating the property tax for each year and if the ratio is higher then the property tax rate will be set higher to collect the target property tax revenue and vice versa.

As in this case, the assessment ratio of company B is 100% which is higher than city A, which means that the city B will require higher tax rates to collect the target property tax revenue.

Hence the property tax rate in city B will be higher than City A to collect the same target property tax revenue.

4 0
4 years ago
Helga runs a website on which she sells houseplants. She also earns through pay-per-click advertising that allows search engines
DerKrebs [107]

Answer: a. Gardening gloves

b. Terracotta planters

c. Garden scissors

d. Watering cans

Explanation:

From the question, we are informed that Helga runs a website on which she sells houseplants and that she also earns through pay-per-click advertising that allows search engines to show targeted ads on her site.

All the products will be advertised on her website. The gardening gloves, terracotta planters, garden scissors and the watering cans are all materials that are required for plant growth to provide water and keep weeds away.

6 0
4 years ago
A seller shipped goods to a buyer by common carrier, using a shipment contract. when the carrier arrived at the buyer's location
Furkat [3]

The answer to this item lies in the situation. It is said that if the problem is silent or does not mention any details on the specific terms of the shipment contract or agreement between the parties, then this contract must be considered Freight on Board Destination (FOB Destination). This FOB Destination is defined as a shipping term which states that the legal title along with the risk of bearing the loss will stay with the seller until the goods reach the location of the buyer. In the actual scene, the actual sale of the goods and ownership changes hand from seller to buyer upon the destination of the goods. In this sense, this detail is important as well because both parties will know when the amounts will be entered in the accounting records and what treatment shall be given to the upon delivery and transit. 

6 0
4 years ago
The following transactions pertain to year 1, the first-year operations of Solomon Company. All inventory was started and comple
slava [35]

Answer:

Explanation:

Cost of sales   640+1810+1620=$4070

Operating Expenses  80+113=$193

Total Cost =4263

Unit produced =370

cost per unit =11.52

Sales revenue =250*14=$3500

Income statement

Revenue -                                     3500

Cost of sales                                 4070

Gross profit                                   (570)

Operating Expenses                     (193)

Net loss                                          (763)

Balance sheet

Inventory                                        1382.4

Equity                                              4800

Total asset                                      6182.4

Inventory is valued at $11.52 (lower of cost and net realizable value)

4 0
4 years ago
How can problem solving skills assist a grade 12 leaver in the world of work
iVinArrow [24]

Answer:

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6 0
2 years ago
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