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: Category membership
Explanation:
According to the given question, the given situation is basically determining the dasani's category membership as it helps in categorizing the various types of products and the services on the basis of their similar features and the characteristics.
The main purpose of the category membership is that it helps in understanding the various types of offers related to the specific brand and also the high competitive choice.
The customers basically wanted the product at lower price with high quality and they usually prefer the discount offers. Therefore, Category membership is the correct answer.
Answer:
since i chose inflation risk and that was incorrect the only other logical option for me would be option B. Interest rate risk
Explanation:
Answer:
The journal entry for J. Laney. to record this transaction is:
Legal Expenses $13,920 (debit)
Common Stock $2,900 (credit)
Share Premium $11,020 (credit)
Explanation:
The Common Stocks are carried at par value of $1. This means that any price paid in excess of the par value is accounted for in the Share Premium Account.
The Common stocks issued are measured at the price required to settle the legal expenses and are paid in excess of par value of $1.
Share Premium = ($4.80 - $1.00) × 2900 shares
= $3.80 × 2,900
= $11,020
Answer:
The total cost of the department’s ending work in process inventory is $684,000
Explanation:
The computation of the total cost is shown below:
= Material cost + conversion cost
where,
Material cost = (Transferred units + ending work in progress) × material cost per unit
= (68,000 units + 12,000 units) × $4
= $320,000
Conversion cost = (Transferred units + ending work in progress × percentage of completion) × material cost per unit
= (68,000 units + 12,000 units × 40%) × $5
= $364,000
Now put these values to the above formula
So, the value would equal to
= $32,000 + $364,000
= $684,000
