Answer and Explanation:
The journal entries are shown below:
(i) On August 1,
Cash A/c Dr. $12,000
photography equipment A/c Dr. $51,600
To common stock $63,600
(Being the issuance of common stock for cash and photography equipment is recorded)
(ii) On August 2,
Prepaid insurance A/c Dr. $3,900
To cash $3,900
(Being the cash paid in advance for insurance is recorded)
(iii) On August 5,
Office supplies A/c Dr. $2,280
To cash $2,280
(Being the cash paid for office supplies is recorded)
(iv) On August 20,
Cash A/c Dr. $3,700
To photography fees earned $3,700
(Being the photography fees earned is recorded)
(v) On August 31,
Utilities A/c Dr. $878
To cash A/c $878
(Being the cash paid for utilities)
Answer:
c. A debit to Salaries Payable and a credit to Cash.
Explanation:
As on December 31, entry to record the expense of Salaries which is accrued and not paid is
Salary A/c Dr.
To Salaries Payable
Now on the closing date, of previous year there is a liability outstanding of Salary Payable.
In the next year on 5th January the salary outstanding in opening balance sheet is paid.
For this, the payment will be made and accordingly, cash will be reduced.
Accordingly liability will be reduced for this, liability will be debited.
Therefore, correct option is
c. A debit to Salaries Payable and a credit to Cash.
Answer:
Yes.
I think that "MTV's future lies mostly in its international operations." This is where the market is for cable TV. The domestic market is already saturated. For an organization of its kind, the best it can do is to expand beyond the domestic market, which it has already done. For example, its African channel is booming. It is also a way to project American culture to the world to help create cross-cultural understanding, while also importing some outside culture to the US in a globalized world.
Explanation:
As a giant American multinational cable channel, MTV focuses on original reality programming which targets teenagers and young adults. This defines its vision and mission. This implies that the company has already identified its purpose. There are teenagers and young adults over the world. This is why its outreach should not be restricted to the domestic US market alone.
Answer:
the cost of the unused capacity reported is $11,400
Explanation:
The computation of the cost of the unused capacity reported is as follows:
= (Estimated amount of overhead ÷ capacity machine hours) × (capacity machine hours - actual machine hours)
= ($22,800 ÷ 19,000 machine hours) × (19,000 - 9,500)
= $1.2 × (9,500)
= $11,400
hence, the cost of the unused capacity reported is $11,400
Option B, The false statement from the given is, "Students rarely leave out of college because of financial difficulties".
<u>Explanation:
</u>
Undergraduate students may open up job opportunities, but certain students may not bear costs. Student loans are not a prime opportunity to fund a university degree, and credit can be a far bigger burden for dropping-out graduates.
It can be a challenge with two reasons not to hold the student loan debt going after leaving: interest and late payments and the effect on credit. Interest and late charges will continue to increase the overall balance owed by student loans over time. When a student who has withdrawn is prepared to handle his debt, he or she may face a tougher challenge than expected.