Business, 07.06.2020 01:58 asialovepink2321
Acquired $51,000 cash from the issue of common stock. Paid $13,600 cash in advance for rent. The payment was for the period April 1, Year 1, to March 31, Year 2. Performed services for customers on account for $104,000. Incurred operating expenses on account of $43,000. Collected $79,500 cash from accounts receivable. Paid $37,000 cash for salary expense. Paid $34,400 cash as a partial payment on accounts payable. Adjusting Entries Made the adjusting entry for the expired rent. (See Event 2.) Recorded $5,600 of accrued salaries at the end of Year 1. Events for Year 2 Paid $5,600 cash for the salaries accrued at the end of the prior accounting period. Performed services for cash of $53,000. Purchased $4,400 of supplies on account. Paid $15,300 cash in advance for rent. The payment was for one year beginning April 1, Year 2. Performed services for customers on account for $120,000. Incurred operating expenses on account of $57,500. Collected $105,000 cash from accounts receivable. Paid $55,000 cash as a partial payment on accounts payable. Paid $33,100 cash for salary expense. Paid a $13,000 cash dividend to stockholders. Adjusting Entries Made the adjusting entry for the expired rent. (Hint: Part of the rent was paid in Year 1.) Recorded supplies expense. A physical count showed that $700 of supplies were still on hand. Problem 13-34A Part f f. Prepare a post-closing trial balance for December 31, Year 1.
Answers: 2
Business, 21.06.2019 18:30
Which of the following accurately describes one way that individual goods differ from public goods? a. people can be excluded from using individual goods if they don't pay. b. all individual goods are normal goods. c. demand for individual goods is always inelastic. d. consumer rivalry results in decreasing marginal utility for individual goods.2b2t
Answers: 3
Business, 22.06.2019 06:40
Burke enterprises is considering a machine costing $30 billion that will result in initial after-tax cash savings of $3.7 billion at the end of the first year, and these savings will grow at a rate of 2 percent per year for 11 years. after 11 years, the company can sell the parts for $5 billion. burke has a target debt/equity ratio of 1.2, a beta of 1.79. you estimate that the return on the market is 7.5% and t-bills are currently yielding 2.5%. burke has two issuances of bonds outstanding. the first has 200,000 bonds trading at 98% of par, with coupons of 5%, face of $1000, and maturity of 5 years. the second has 500,000 bonds trading at par, with coupons of 7.5%, face of $1000, and maturity of 12 years. kate, the ceo, usually applies an adjustment factor to the discount rate of +2 for such highly innovative projects. should the company take on the project?
Answers: 1
Business, 22.06.2019 11:10
An insurance company estimates the probability of an earthquake in the next year to be 0.0015. the average damage done to a house by an earthquake it estimates to be $90,000. if the company offers earthquake insurance for $150, what is company`s expected value of the policy? hint: think, is it profitable for the insurance company or not? will they gain (positive expected value) or lose (negative expected value)? if the expected value is negative, remember to show "-" sign. no "+" sign needed for the positive expected value
Answers: 2
Acquired $51,000 cash from the issue of common stock. Paid $13,600 cash in advance for rent. The pay...
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