Answer:
The following are the adjusting entries and the amounts entered are supposed and imaginary.
Explanation:
Date Account Titles and Explanation Debit Credit
Mar. 31 Supplies Expense Dr 10,000
Supplies Account Cr 10,000
When supplies are expensed out. If supplies have a balance of 30000 and 10000 is used up.
Mar. 31 Depreciation Expense Dr 5000
Accumulated Depreciation Cr 5000
Depreciation expense amounts to 5000 for the current year
Mar. 31 Unearned Service Revenue Dr 3000
Service Revenue Cr 3000
Unearned Service Revenue is a liability of the person or company.
Mar 31. Salaries and Wages Expenses Dr 2000
Cash Cr 2000
Slaries and wages paid in full by cash to 2000
If you are in a car accident cause by someone else who also has insurance, the type of insurance plan that will not require you to pay out of pocket costs is liability insurance. If the car accident was not your fault and the person who caused the accident is also insured the claim should be paid by him under his coverage and your pocket will be safe as well as your insurance will not be affected.
Answer:
31 Dec 2021 Interest Expense $667 Dr
Interest Payable $667 Cr
Explanation:
The bond will pay the interest at maturity. However, following the accrual basis of accounting requires to match the revenue and expenses for a period and requires such transactions to be recorded in their respective periods. The year end adjusting entry will be made on 31 December 2021.
The interest expense for the period from August to December, 5 months, will be recorded on 31 December 2021 as interest expense and credit to interest payable.
The interest expense is = 16000 * 0.1 * 5/12 = $666.67 rounded off to $667
Answer:
Effect on income= $9,600 increase
Explanation:
Giving the following formula:
Unitary contribution margin= $90
The marketing manager believes that a $7,500 increase in the monthly advertising budget would result in a 190 unit increase in monthly sales.
<u>To calculate the effect on income, we need to use the following formula:</u>
Effect on income= increase in total contribution margin - increase in fixed costs
Effect on income= 190*90 - 7,500
Effect on income= 17,100 - 7,500
Effect on income= $9,600 increase
