already answered this question for you in a previous post.
Answer:
Balance = $1,650
Explanation:
As Norma company has paid 4 months rent in advance, therefore at the end of June, norma company will record its 1-month expense as follows
Adjusting entry at the end of June would be
DEBIT CREDIT
Entry
Rent Expense $550
Prepaid Rent $550
The balance on Norma's prepaid expense would be
Prepaid Rent = $2200
Rent Expense = ($550)
Balance = $1,650
Answer:
It means movies are relatively cheaper than working hours
Explanation:
In order to estimate the relativity of the two activities, there is a need to compare the changes over ten years
1. 10 years ago, Movie ticket= $5, 10 Years later Movie ticket= $8, the 10 year difference is $3
2. 10 years ago, average hourly wage = $10, 10 years later, average hourly wage = $20, the 10 year difference is $10
First, it means for the $3 change in movie ticket cost, there was a $10 change in the average hourly wage.
Put differently, while movie ticket got a 60% increase in price 3/5 x 100=60%
Average hourly wage got 100% increase 10/10 x 100= 100%
It means that working hours got more expensive and movie tickets got cheaper
Answer:
Results are below.
Explanation:
<u>First, we need to calculate the total cost of producing 2,900 units:</u>
Total cost= direct material + direct labor + allocated overhead
Total cost= (2*7)*2,900 + (0.5*16)*2,900 + [(0.5*16)*0.6]*2,900
Total cost= 40,600 + 23,200 + 13,920
Total cost= $77,720
<u>Now, the unitary standard cost:</u>
Unitary cost= total cost/number of units
Unitary cost= 77,720 / 2,900
Unitary cost= $26.8
Answer:
Dr Cash 1020
Cr Service revenue 1000
Cr Service fee 20
Explanation:
Service fee is expense of individual who is purchasing not store's expense.
- Total cash received by store is $ 1020 because 2% is service charges by master card,its is income of master card not store so store will treat as liability.
The only revenue of store is $1000.
