Answer:
(a). supply expense = for both debit and credit = $370.
(b). Insurance expense= for both debit and credit sides = $130.
(c).Salary expense and salary payable = for both debit and credit sides = $1400
(d). Electricity expense =$ 250.
Explanation:
NOTE: Please check the attachment for the proper drafting of the adjusting journal entry.
The term "adjusting journal entry" is used in accounting to determine the the expenses for a particular period of time. The "adjusting journal entry" is needed for efficient and effective accounting record because it can also be used in the correction of an accounting record that had been recorded before that particular period of time.
Here in the "adjusting journal entry" there is going to be the debit side and the credit side for each accounts.
(a). The supply expense and the supplies = 600 - 230 = 370 for the credit and the debit sides.
(b). Insurance expense = $130.
(c). Salary expense and salary payable = 3500 × 2 / 5 = $1400.
(d). Electricity expense and expense payable = $250
Answer:
a. On September 1, paid rent on the track facility for six months at a total cost of $12,000.
September 1
Dr Prepaid rent 12,000
Cr Cash 12,000
September 30
Dr Rent expense 2,000
Cr Prepaid 2,000
b. On September 1, received $60,000 for season tickets for 12-month admission to the race track.
September 1
Dr Cash 60,000
Cr Deferred revenue 60,000
September 30
Dr Deferred revenue 5,000
Cr Revenue 5,000
c. On September 1, booked the race track for a private organization that will use the track one day per month for $2,000 each time, to be paid in the following month. The organization uses the track on September 30.
September 30
Dr Accounts receivable 2,000
Cr Revenue 2,000
d. On September 1, hired a new manager at a monthly salary of $3,000, to be paid the first Monday following the end of the month.
September 30
Dr Wages expense 3,000
Cr Wages payable 3,000
Answer and Explanation:
The Securities Investor Protection Corporation enhance security for the registered broker and distributor customers and national securities exchanges members
In the given situation, it is mentioned that a customer has 4 accounts i.e person cash account, person margin account, cash account jointly with his wife and custodial account for two children
Now if the firm liquidates, the (Securities Investor Protection Corporation) SIPC covers all accounts but separately i.e both person accounts are count as one by adding them, the joint account as an individual and the custodial account as an individual
Answer:
$8.82
Explanation:
The computation of the current value of the stock is given below:
Given that
The dividend per share is $0.50
The growth rate is 24% for the next two years
And, then it should be 8 % per year
And, the required rate of return is 16%
Now based on the above information, the current value of the stock is $8.82
The calculation is to be shown in the attachment
Answer:
After the election, democracy holders were elected, so very few qualifying voters took the trouble to exercise their right to vote in the province.
Social security policy exempted farm workers and domestic employees as these were the primary groups of black labor, and the south would exclude them.
After the Republicans lost chance in the South due to the blacks losing their democratic right to vote, the Democrats maintained an electoral hegemony in the area.