Business, 12.06.2020 16:57 graceaowen

Depreciation on the company's equipment for the year is computed to be $15,000. The Prepaid Insurance account had a $6,000 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of the company’s insurance policies showed that $940 of unexpired insurance coverage remains. The Office Supplies account had a $450 debit balance at the beginning of December; and $2,680 of office supplies were purchased in December. The December 31 physical count showed $531 of supplies available. Three-fourths of the work related to $13,000 of cash received in advance was performed this period. The Prepaid Rent account had a $5,400 debit balance at December 31 before adjusting for the costs of any expired coverage. An analysis of rental policies showed that $4,460 of rental coverage had expired. Wage expenses of $3,000 have been incurred but are not paid as of December 31. Prepare adjusting journal entries for the year ended (date of) December 31 for each of these separate situations.

Answers: 1

Show answers

Another question on Business

Business, 22.06.2019 08:00

Lavage rapide is a canadian company that owns and operates a large automatic car wash facility near montreal. the following table provides data concerning the company’s costs: fixed cost per month cost per car washed cleaning supplies $ 0.70 electricity $ 1,400 $ 0.07 maintenance $ 0.15 wages and salaries $ 4,900 $ 0.30 depreciation $ 8,300 rent $ 1,900 administrative expenses $ 1,400 $ 0.03 for example, electricity costs are $1,400 per month plus $0.07 per car washed. the company expects to wash 8,000 cars in august and to collect an average of $6.50 per car washed. the actual operating results for august appear below. lavage rapide income statement for the month ended august 31 actual cars washed 8,100 revenue $ 54,100 expenses: cleaning supplies 6,100 electricity 1,930 maintenance 1,440 wages and salaries 7,660 depreciation 8,300 rent 2,100 administrative expenses 1,540 total expense 29,070 net operating income $ 25,030 required: calculate the company's revenue and spending variances for august.

Answers: 3

Answer

Business, 22.06.2019 19:30

Quick calculate the roi dollar amount and percentage for these example investments. a. you invest $50 in a government bond that says you can redeem it a year later for $55. use the instructions in lesson 3 to calculate the roi dollar amount and percentage. (3.0 points) tip: subtract the initial investment from the total return to get the roi dollar amount. then divide the roi dollar amount by the initial investment, and multiply that number by 100 to get the percentage. b. you invest $200 in stocks and sell them one year later for $230. use the instructions in lesson 3 to calculate the roi dollar amount and percentage. (3.0 points) tip: subtract the initial investment from the total return to get the roi dollar amount. then divide the roi dollar amount by the initial investment, and multiply that number by 100 to get the percentage.

Answers: 2

Answer

Business, 22.06.2019 20:00

In william rathje's garbology project that focused on household waste, front door interviews found 15 percent of respondents saying that they consumed beer. the trash discard from the same area showed what percentage of household's consuming beer

Answers: 1

Answer

Business, 23.06.2019 09:30

Which of the following economic behaviors causes scarcity? a limited supply and unlimited demand b limited supply and unlimited credit c limited supply and limited regulation d limited supply and limited incentives

Answers: 1

Answer

You know the right answer?

Depreciation on the company's equipment for the year is computed to be $15,000. The Prepaid Insuranc...

Questions