Business, 02.06.2020 19:59 elsabramasco1161

Consider the following situations for Shocker:
a, On November 28, 2021, Shocker receives a $3,150 payment from a customer for services to be rendered evenly over the next three months. Deferred Revenue is credited.
b. On December 1, 2021, the company pays a local radio station $2,430 for 30 radio ads that were to be aired, 10 per month, throughout December, January, and February. Prepaid Advertising is debited.
c. Employee salaries for the month of December totaling $7,100 will be paid on January 7, 2022.
d. On August 31, 2021, Shocker borrows $61,000 from a local bank. A note is signed with principal and 9% interest to be paid on August 31, 2022.
Required:
1. Record the necessary adjusting entries for Shocker at December 31, 2021. No adjusting entries were made during the year.

Answers: 1

Show answers

Other questions on the subject: Business

Business, 22.06.2019 08:40, jade468

Examine the following book-value balance sheet for university products inc. the preferred stock currently sells for $30 per share and pays a dividend of $3 a share. the common stock sells for $16 per share and has a beta of 0.9. there are 2 million common shares outstanding. the market risk premium is 9%, the risk-free rate is 5%, and the firm’s tax rate is 40%. book-value balance sheet (figures in $ millions) assets liabilities and net worth cash and short-term securities $ 2.0 bonds, coupon = 6%, paid annually (maturity = 10 years, current yield to maturity = 8%) $ 5.0 accounts receivable 3.0 preferred stock (par value $15 per share) 3.0 inventories 7.0 common stock (par value $0.20) 0.4 plant and equipment 21.0 additional paid-in stockholders’ equity 13.6 retained earnings 11.0 total $ 33.0 total $ 33.0 a. what is the market debt-to-value ratio of the firm? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.) b. what is university’s wacc? (do not round intermediate calculations. enter your answer as a percent rounded to 2 decimal places.)

Answers: 3

continue

Business, 22.06.2019 10:30, highflylex279

Describe three scenarios in which you might utilize mathematics to investigate a crime scene, accident scene, or to make decisions involving police practice. be sure to explain how math is used in police as they work through each scenario.

Answers: 1

continue

Business, 22.06.2019 11:20, greatsavagebeast

Mae jong corp. issues $1,000,000 of 10% bonds payable which may be converted into 10,000 shares of $2 par value ordinary shares. the market rate of interest on similar bonds is 12%. interest is payable annually on december 31, and the bonds were issued for total proceeds of $1,000,000. in accounting for these bonds, mae jong corp. will: (a) first assign a value to the equity component, then determine the liability component. (b) assign no value to the equity component since the conversion privilege is not separable from the bond.(c) first assign a value to the liability component based on the face amount of the bond.(d) use the “with-and-without” method to value the compound instrument.

Answers: 3

continue

Business, 22.06.2019 18:00, firesoccer53881

If you would like to ask a question you will have to spend some points

Answers: 1

continue

You know the right answer?

Consider the following situations for Shocker:
a, On November 28, 2021, Shocker receives a $3...