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2 years ago

For each separate case below, follow the three-step process for adjusting the unearned revenue liability account at December 31.

Business

1 answer:

Anastaziya [24]2 years ago

5 0

Answer:

Step 1) The current balance equals to $ 9000

Step 2)The current balance should equal to (9000/12 * 10) $ 7500

Step 3) the adjusting entry would be

Dec 31 Unearned Revenue $ 1500 (dr)

Revenue Earned $ 1500 (Cr)

Step 1) The current balance equals to $ 400.

Step 2) The current balance should equal $ 100

Step 3) The adjusting entry would be

Dec 31 Unearned Services Revenue $ 300 (dr)

Services Revenue Earned $ 300 (Cr)

Step 1) The current balance equals to $ 3000.

Step 2) The current balance should equal ( $ 30,000/12 *4= $ 10,000) $ 30,000- $ 10,000= $ 20,000

Step 3) The adjusting entry would be

Dec 31 Unearned Rent Revenue $ 10,000 (Dr)

Rent Revenue Earned $ 10,000 (Cr)

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Midyear on july 31st, the digby corporation's balance sheet reported: total liabilities of $51.391 million total common stock of

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We can calculate total assets by accounting equation, which is total assets equal to total liabilities plus total equity. Using the basic accounting equation:

Total assets = Total liabilities + shareholders’ equity

= total liabilities + ( total common stock + Retained earnings)

= $51.391 million + ($2.540 million + 18.432 million)

= $72.363 million

Therefore, total assets of the firm would be $72.363 million.

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2 years ago

Kate holds a middle-management position with a large corporation. She prefers to involve her subordinates in decision making. Sh

PtichkaEL [24]

Answer:

Formal selection principle..

Explanation:

Max Weber gave 5 principles of the bureaucratic structure as the division of labor, hierarchy of authority, and the framework of rules, impersonality a formal selection.

As kate is in middle management of a large organization she at the center of the hierarchy of the organization and believes that the subordinates can help in the decision making the process. This will lead to the creation of innovative ideas, reducing wastages of resources and time.

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2 years ago

Novak Corp. issued 2,000 8%, 9-year, $1,000 bonds dated January 1, 2022, at face value. Interest is paid each January 1.

miv72 [106K]

Answer:

Part B.

Dr Interest expense ($2,000,000 * 8%) $160,000

Cr Interest payable $160,000

Part C.

Dr Interest payable $160,000

Cr Cash $160,000

Explanation:

Part A.

On Jan 1, 2022, the bond issued would be recorded as under:

Dr Cash (2000 bonds * $1000 par value) $2,000,000

Cr Bonds payables $2,000,000

Part B.

On Dec 31, 2022, the interest accrued would be recorded as under:

Dr Interest expense ($2,000,000 * 8%) $160,000

Cr Interest payable $160,000

Part C.

On Jan 1, 2023, the payment of the interest would be recorded as under:

Dr Interest payable $160,000

Cr Cash $160,000

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2 years ago

Customers around the world know Pepsi and consider it a primary "go-to" brand if they want a refreshing drink. This positioning

Sedbober [7]

Answer:

B. targeting strategy and marketing mix

Explanation:

In business, Targeting strategy refers to a strategy that a company implemented to sell their product to specific group of consumers.

In pepsi's case, they focus their targeting strategy toward the consumers who want a refreshing drink.

Marketing mix is a marketing strategy that is revolved around product, price, place, and promotion. Companies could utilzie this 4 factors to create a business model that can make their targeting strategy succesful.

In pepsi's case:

They sold their product in almost every convenience store (place) . Making it easier for consumers who currently crave refreshing drinks. The price of Pepsi's product is very affordable.

They designed and promote their product to obtain a reputation as refreshing a product that can relinquish your thirst. You can see it in most of their advertising. Most of it consist of people in a hot weather that craves something cold and refreshing.

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2 years ago

Improving business processes by reengineering them, benchmarking specific activities against industry leaders, encouraging emplo

V125BC [204]

Answer: (C) Piecemeal productivity improvements

Explanation:

The piecemeal productivity improvement is one of the type of business strategy that is used by various types of successful organization for the purpose of improving the productivity of an employees, the business process and also managing all bench-marking activities in an organization.

According to the given question, the given activities in an organization are the example of Piecemeal productivity improvements that helps in expanding the product scope in the market. Therefore, Option (C) is correct answer.

Therefore, Option (C) is correct answer.

4 0

2 years ago