Business, 24.05.2021 19:00 janeou17xn

The trial balance afyer one month of operation for Mason;s delivery Service as of September 30 ,20 is shown below. Data to complete the adjustments are as fellows: (a) supplies inventory as of September 30, $90
(b) Insurance expired (used) $650
(c) Depreciation on delivery equipment $600
(d) Wages earned by employees but not paid as of September 30 $350
1. Enter the adjustments in the adjustments columds of hte work sheet and comeple the work sheet
Mason's Delivery Service
Work Sheet
For Month Ended September 30, 20--
Trial Balance Adjustments Adjusted Trial Balance Income Statement Balance Sheet
Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Credit
Cash 1,600
Accounts Receivable 940
Supplies 635
Prepaid Insurance 1,200
Delivery Equipment 6,400
Accum. Depr. - Delivery Equip.
Accounts Payable 1,220
Wages Payable
Jill Mason, Capital 8,000
Jill Mason, Drawing 1,400
Delivery Fees 6,200
Wages Expense 1,500
Advertising Expense 460
Rent Expense 800
Supplies Expense
Telephone Expense 165
Insurance Expense
Repair Expense 230
Oil and Gas Expense 90
Depr. Exp. - Delivery Equip.
15,420 15,420

Answers: 3

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Answers

Answer from: tedrayoung1

Mason's Delivery Service

Worksheet

For Month Ended September 30, 20--

Trial Balance Adjustments Adjusted Income Balance

Trial Balance Statement Sheet

Account Title Debit Credit Debit Credit Debit Credit Debit Credit Dr. Cr.

Cash 1,600 1,600 1,600

Accounts

Receivable 940 940 940

Supplies 635 545 90 90

Prepaid

Insurance 1,200 650 550 550

Delivery

Equipment 6,400 6,400 6,400

Accum. Depr. - Delivery Equip. 600 600 600

Accounts Payable 1,220 1,220 1,220

Wages Payable 350 350 350

Jill Mason, Capital 8,000 8,000 8,000

Jill Mason,

Drawing 1,400 1,400 1,400

Delivery Fees 6,200 6,200 6,200

Wages

Expense 1,500 350 1,850 1,850

Advertising

Expense 460 460 460

Rent Exp. 800 800 800

Supplies Expense 545 545 545

Telephone

Expense 165 165 165

Insurance

Expense 650 650 650

Repair Exp 230 230 230

Oil and Gas

Expense 90 90 90

Depr. Exp. - Delivery Equip. 600 600 600

Total 15,420 15,420 2,145 2,145 16,370 16,370 5,390 6,200 = 810

10,980 10,989

Explanation:

a) Data and Calculations:

Adjustments:

a) Supplies expense $545 Supplies $545

(b) Insurance expense $650 Prepaid Insurance $650

(d) Wages expense $350 Wages Payable $350

Answer from: Quest

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.

Answer from: Quest

The correct answer is (b) the marginal contribution of labor decreases as the quantity of labor used in production increases;