Answer:
(i) The trial balance of Monroe Entertainment Co. is as shown below.
Amounts in $
Accounts Debits Credits
Accounts Payable 486.00
Fees Earned 2,807.00
Accounts Receivable 854.00
Insurance Expense 405.00
Prepaid Insurance 1,698.00
Land 2,275.00
cash 1,878.00
Wages Expense 519.00
Drawing 751.00
Capital <u> </u> <u> 5,087.00</u>
Balances <u> </u><u>8,380.00 </u> <u>8,380.00 </u>
(ii) Total debits is c.$8,380
Explanation:
The trial balance shows the balances of all accounts in terms of debits and credit and is used to check the mathematical accuracy of posted entries. The debits are the assets and expenses while the credits are the equity, income and liabilities.
Total debits is $8,380
Answer:
$102,348.034
Explanation:
It is a simple problem of Compound Interest, we have to find the Principle amount invested.
Given:
Future value (F) = $260,000
Rate(R) = 6% = 6/100 = 0.06
Number of years (n) = 16 years
Initial deposit (C) = ?
Calculation:
$260,000/2.54035168 = C
$102,348.034 = C
So, Initial cash Deposit = $102,348.034
Answer:
The correct answer is A.
Explanation:
Giving the following information:
Kushman Combines Inc. has $20,000 of ending finished goods inventory as of December 31, 2017. If beginning finished goods inventory was $10,000 and the cost of goods sold was $50,000.
We need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
50,000= 10,000 + cost of goods manufactured - 20,000
50,000 + 20,000 - 10,000= cost of goods manufactured
60,000= cost of goods manufactured
Answer:
Explanation:
A) using 2-year moving average :
Year 6 : (3800 + 3700) = 7500 / 2 = 3750
2) Mean absolute deviation based on the forecast above :
(3000 + 4000) = 7000/2 = 3500
(4000 + 3400) = 7400/2 = 3700
(3400 + 3800) = 7200/2 = 3600
3000
4000
3400 __3500__100
3800__3700__100
3700__3600__100
Mean absolute deviation = (100 + 100 + 100) /3 = 300/3 = 100
C) weight of 0.4 and 0.6
(0.4*3000 + 0.6*4000) = 3600
(0.4*4000 + 0.6*3400) = 3640
(0.4*3400 + 0.6*3800) = 3640
3000
4000
3400 __3600__200
3800__3640__160
3700__3640__60
(200 + 160 + 60) = 420 / 3 = 140
