Business, 08.10.2020 18:01, buddyclayjohnson
Ricardo Construction began operations on December 1. In setting up its accounting procedures company decided to debit expense accounts when it prepays its expenses and to credit revenue accounts. Prepare journal entries for items a through d and the ad when customers pay for services in advance just and ng entries as of its December 31 period-end for items e through g. (Entries can draw from the following partial chart of accounts: Cash; Accounts Receivable; Interest Receivable; Supplies; Prepaid Engpeme in erred Bp nKemodeling Fees: Remodeling Fees Earned Supplies Expense Expense; Interest Expense.)a. Supplies are purchased on December 1 for $2,000 cash. b. The company prepaid its insurance premiums for $1,540 cash on December 2c. On December 15, the company receives an advance payment of $13,000 cash from a customer for remodeling work. d. On December 28, the company receives $3,700 cash from another customer for remodeling work to be performed in Januarye. A physical count on December 31 indicates that the company has $1,840 of supplies available. f. An analysis of the insurance policies in effect on December 31 shows that $340 of insurance had expired. g. As of December 31, only one remodeling project has been worked on and completed. The s5,570 fee for this project had been received in advance and recorded as remodeling fees earned
Answers: 2
Business, 22.06.2019 10:00, emwemily
Frolic corporation has budgeted sales and production over the next quarter as follows. the company has 4100 units of product on hand at july 1. 10% of the next months sales in units should be on hand at the end of each month. october sales are expected to be 72000 units. budgeted sales for september would be: july august september sales in units 41,500 53,500 ? production in units 45,700 53,800 58,150
Answers: 3
Business, 22.06.2019 10:50, lindalu
Choose the statement that is incorrect. a. search activity occurs only in markets where there is a shortage. b. when a price is regulated and there is a shortage, search activity increases. c. the time spent looking for someone with whom to do business is called search activity. d. the opportunity cost of a good is equal to its price plus the value of the search time spent finding the good.
Answers: 3
Business, 22.06.2019 21:00, neylabaker7489
In a transportation minimization problem, the negative improvement index associated with a cell indicates that reallocating units to that cell would lower costs. truefalse
Answers: 1
Business, 22.06.2019 23:20, hernandezeileen20
Over the past several years, joyce chen has been able to save regularly. as a result, today she has $54,188 in savings and investments. she wants to establish her own business in 5 years and feels she will need $100,000 to do so. a. if she can earn 6% on her money, how much will her $54,188 in savings/investments be worth in 5 years? will joyce have the $100,000 she needs? if not, how much more money will she need? b. given your answer to part a, how much will joyce have to save each year over the next 5 years to accumulate the additional money? assume she can earn interest at a rate of 6%. c. if joyce can afford to save only $4,000 a year then, given your answer to part a, will she have the $100,000 she needs to start her own business in 5 years?
Answers: 3
Ricardo Construction began operations on December 1. In setting up its accounting procedures company...
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