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4 years ago

Match the following with the suggested tips.

Business

1 answer:

weeeeeb [17]4 years ago

6 0

Service Provider II Suggested Tip

~none~ II $1 per night

hotel housekeeper II $2 to $5 per night

restroom attendant II 50 cents to $1

grocery loader II $1 to $3

~none ~ II $5 to $10

manicurist II 10% to 15%

hotel room service deliverer II 15% to 20%

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For each separate case below, follow the 3-step process for adjusting the prepaid asset account at December 31. Step 1: Determin

svetoff [14.1K]

PART A

Answer:

Insurance expense debit for 3,800

Insurance prepaid credit for 3,800

Explanation:

a.- Prepaid Insurance. The Prepaid Insurance account has a $4,700 debit balance to start the year. A re- view of insurance policies and payments shows that $900 of unexpired insurance remains at year-end.

Step 1: Currently equals to $4,700

Step 2: It should equal $900

In this Case: It is giving us the begining balance, and then it proceeds to tell us the ammount unexpired, which means the ending balance. So the diference will be the adjuting entry

Step 3: $4700 - $900 = $3,800

insurance expense debit for 3,800

insurance prepaid credit for 3,800

PART B

Answer:

insurance expense 1040 debit

prepaid insurance 1040credit

Explanation:

b.- Prepaid Insurance. The Prepaid Insurance account has a $5,890 debit balance at the start of the year. A review of insurance policies and payments shows $1,040 of insurance has expired by year-end.

Step 1: Curently equals to $5,890

Step 2: 5,890 - 1,040 expired portion = 4,850 unexpired portion

The blaance should be 4,850

In this Case: It is giving us the begining balance, and then it proceeds to tell us the ammount expired, which means the adjusting entry. So the diference will be the ending balance

Step 3

The adjusting entry must be made for 1,040 which is the expired portion

insurance expense 1040 debit

prepaid insurance 1040credit

PART C

Answer:

rent expense 4,000 debit

prepaid rent 4,000 credit

Explanation:

C.- PrepaidRent. On September 1 of the current year, the company prepaid $24,000 for 2 years of rent for facilities being occupied that day. The company debited Prepaid Rent and credited Cash for $24,000.

Step 1 Current balance is 24,000

In this Case: It is giving us the begining balance, and then it proceeds to tell us information about the contract, which means we are going to work to get the expired portion and with that calculate the ending balance like on part B

Step 2 We are at December 31th the expired portion will be 4 months (September, October, November and December) so:

24,000

----------------------------- x 4 months expired = 4,000 expired portion

24 month of contract

24,000 - 4,000 = 20,000

begining - expired = ending AKA "unexpired"

The balance should be equal to 20,000

Step 3: the adjusting entry should be done for 4,000 which is the expired portion of the rent.

rent expense 4,000 debit

prepaid rent 4,000 credit

7 0

3 years ago

Within the labor movement, the demise of the Knights of Labor led to a shift away from the broadly reformist past to more limite

natita [175]

The given statement is TRUE.

Explanation:

The statements that describe the AFL :

Rather than facing business leaders head on, the AFL has committed itself to seeking fair working practices and higher wages for employers.

In the vocabulary of the corporate community of that period, the latest AFL policies were labeled "financial unionism."

6 0

3 years ago

Duckistan Production Possibilities A B C D E Civilian Goods 20 18 14 8 0 Military Goods 0 1 2 3 4 Herbania Production Possibilit

olganol [36]

Answer:

B. Herbania is technologically superior to Duckistan in producing civilian goods.

Explanation:

Duckistan Production Possibilities

A B C D E

Civilian Goods 20 18 14 8 0

Military Goods 0 1 2 3 4

opportunity cost - ¹/₁₈ ¹/₇ ³/₈ 4 civilian goods

opportunity cost 20 18 7 2.7 - military goods

Herbania Production Possibilities

A B C D E

Civilian Goods 40 36 26 14 0

Military Goods 0 1 2 3 4

opportunity cost - ¹/₃₆ ¹/₁₃ ³/₁₄ 4 civilian goods

opportunity cost 40 36 13 4.7 - military goods

Herbania has an absolute advantage in the production of civilian goods. Since it also has a lower opportunity cost of producing civilian goods, therefore, it also has a comparative advantage at producing civilian goods. Assuming that resources are equal in both countries, then we can assume that Herbania is technologically superior in the production of civilian goods.

Dukistan has a lower opportunity cost of producing military goods, therefore, it has a comparative advantage at producing military goods.

3 0

3 years ago

A reduction in inflation would lead to a. more frequent price changes and increased variability of relative prices. b. more freq

bija089 [108]

Answer:

d. less frequent price changes and decreased variability of relative prices.

Explanation:

We know that the Inflation is an increase in prices for a period of time that represent the loss in the purchasing power of the consumer. With attached to it, there would be rise in the level of the price that have the high amount of fluctuations in the price

So in the case when there is a decrease in inflation so it would have less frequent change in price and reduction in variability in relative prices as the prices would become stable

Hence, the option d is correct

7 0

3 years ago

Joan purchased a condominium. When she bought it, she realized the homeowner's association had a variety of rules and regulation

Sergeu [11.5K]

Answer:

Constitutional protection and guarantees do not necessarily extend to private property, an generally they don't. Constitutional protections and guarantees cover any government action (at any level): But since the condominium is private property, then the homeowner association's action is not covered. It is most likely that Joan will be forced to leave the condominium.

Explanation:

5 0

4 years ago