subject
Business, 30.09.2019 23:00 natalie3734

Following are two income statements for alexis co. for the year ended december 31. the left number column is prepared before adjusting entries are recorded, and the right column is prepared after adjusting entries. the company records cash receipts and payments related to unearned and prepaid items in balance sheet accounts. income statements for year ended december 31 unadjusted adjusted revenues fees earned $ 24,000 $ 30,000 commissions earned 42,500 42,500 total revenues $ 66,500 72,500 expenses depreciation expense—computers 0 1,500 depreciation expense—office furniture 0 1,750 salaries expense 12,500 14,950 insurance expense 0 1,300 rent expense 4,500 4,500 office supplies expense 0 480 advertising expense 3,000 3,000 utilities expense 1,250 1,320 total expenses 21,250 28,800 net income $ 45,250 $ 43,700 analyze the statements and prepare the seven adjusting entries that likely were recorded. hint: entry for a refers to fees that have been earned but not yet billed. none of the entries involve cash.

ansver
Answers: 1

Other questions on the subject: Business

image
Business, 22.06.2019 02:30, kseniyayakimno
Luc do purchased stocks for $6,000. he paid $4,000 in cash and borrowed $2,000 from the brokerage firm. he bought 100 shares at $60.00 per share ($6,000 total). the loan has an annual interest rate of 8 percent. six months later, luc do sold the stock for $65 per share. he paid a commission of $120 and repaid the loan. his net profit was how much? pls
Answers: 3
image
Business, 22.06.2019 02:30, raulramirez01
Acompany factory is considered which type of resource a. land b. physical capital c. labor d. human capital
Answers: 2
image
Business, 22.06.2019 17:30, dondre54
Emery pharmaceutical uses an unstable chemical compound that must be kept in an environment where both temperature and humidity can be controlled. emery uses 825 pounds per month of the chemical, estimates the holding cost to be 50% of the purchase price (because of spoilage), and estimates order costs to be $48 per order. the cost schedules of two suppliers are as follows: vendor 1 vendor 2 quantity price/lb quantity price/lb 1-499 $17 1-399 $17.10 500-999 $16.75 400-799 $16.85 1000+ $16.50 800-1199 $16.60 1200+ $16.25 (a) what is the economic order quantity for each supplier? (b) what quantity should be ordered and which supplier should be used? (c) the total cost for the most economic order sire is $
Answers: 2
image
Business, 22.06.2019 22:20, Bamaboy8804
Which of the following events could increase the demand for labor? a. an increase in the marginal productivity of workers b. a decrease in the amount of capital available for workers to use c. a decrease in the wage paid to workers d. a decrease in output price
Answers: 1
You know the right answer?
Following are two income statements for alexis co. for the year ended december 31. the left number c...

Questions in other subjects:

Konu
Mathematics, 08.02.2021 03:30
Konu
Mathematics, 08.02.2021 03:30