Business, 25.09.2020 02:01 christson805
The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly financial statements requiring the company to prepare to adjust entries at the end of each quarter. Assume all quarterly adjusting entries were properly recorded.1. On December 1, 2015, the company paid its annual fire insurance premium of $2,000 for the year beginning December 1.2. On August 31, 2015, the company borrowed $27, 500 from a local bank. The note requires principal and interest at 8% to be paid on August 31, 2016.3. Mazzanti owns a warehouse that it rents to another company. On January 1, 2016, Mazzanti collected $16,000 representing rent for the 2016 calendar year.4. Depreciation on the office building is $12,000 for the fiscal year.5. Employee salaries and wages for the month of June 2016 of $13,000 will be paid on July 20, 2016.Prepare the necessary year-end adjusting entries at the end of June 30, 2016, for the above situations.
Answers: 2
Business, 22.06.2019 01:00, samymaria1344
Suppose that hubert, an economist from an am talk radio program, and kate, an economist from a nonprofit organization on the west coast, are arguing over government bailouts. the following dialogue shows an excerpt from their debate: kate: to recent financial crises, the concept of bailouts is a hot topic for debate among everyone these days. hubert: indeed, it’s gotten crazy! a government bailout of severely distressed financial firms is unnecessary because free markets will properly price assets. kate: i don’t know about that. without a bailout of severely distressed financial firms, the economy will experience a deep recession. the disagreement between these economists is most likely due todifferences in scientific judgments . despite their differences, with which proposition are two economists chosen at random most likely to agree? business managers can raise profit more easily by reducing costs than by raising revenue. central banks should focus more on maintaining low unemployment than on maintaining low inflation. employers should not be restricted from outsourcing work to foreign nations
Answers: 3
Business, 22.06.2019 02:50, smariedegray
Acompany set up a petty cash fund with $800. the disbursements are as follows: office supplies $300 shipping $50 postage $30 delivery expense $350 to create the fund, which account should be credited? a. postage b. cash at bank c. supplies d. petty cash
Answers: 2
Business, 22.06.2019 16:30, ggggggggv24
On april 1, the cash account balance was $46,220. during april, cash receipts totaled $248,600 and the april 30 balance was $56,770. determine the cash payments made during april.
Answers: 1
Business, 22.06.2019 20:00, kiaramccurty
River corp's total assets at the end of last year were $415,000 and its net income was $32,750. what was its return on total assets? a. 7.89%b. 8.29%c. 8.70%d. 9.14%e. 9.59%
Answers: 3
The Mazzanti Wholesale Food Company's fiscal year-end is June 30. The company issues quarterly finan...
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