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kompoz [17]
2 years ago
9

On April 1, Griffith Publishing Company received $24,480 from Santa Fe, Inc. for 36-month subscriptions to several different mag

azines. The company credited Unearned Fees for the amount received and the subscriptions started immediately. What is the adjusting entry that should be recorded by Griffith Publishing Company on December 31 of the first year?
Business
1 answer:
photoshop1234 [79]2 years ago
6 0

Answer:

Dr Unearned Fees, $6,120

Cr Fees Earned, $6,120

Explanation:

Based on the information given we were told that the On April 1, the Company received the amount of $24,480 for 36-month subscription in which the company credited Unearned Fees for the amount received therefore the adjusting entry that the company should be record on December 31 of the first year will be:

Dr Unearned Fees, $6,120

Cr Fees Earned, $6,120

Working:

Amount the company received $24,480 ÷Months of Subscription 36 months

*April to December will give us 9 months

Hence,

$24,480/36*9

=$680*9

=$6,1,20

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The firm is not engaging in international trade is True.

(B) The firm is using a regional approach to international expansion.

<u>Explanation:</u>

When a company wants it's business to grow and expand in a new country it uses the regional approach. It is generally used when the company is quite established and it has a nice foothold in the country.

In the regional approach the business is first set up in the country and when it gains power it starts spreading across the borders to get a region as a whole.

4 0
2 years ago
Discuss the various factors that account for the way divergence can be achieved in advertising creativity. Find an example of an
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Innovation , Creativity and Eye Catching and is the best way by which Divergence can be achieved.

Explanation:

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3. Eye Catching- Advertisement should be pleasing to attract the potential customers.

Example - "Apple" Its produced have been famous worldwide because of its innovation and creativity that sets it apart from the other competitors.

6 0
2 years ago
Stefan has inherited a large amount of money and decides he wants to start a skateboard shop. He has money to invest up front, b
Oksi-84 [34.3K]

Corporation or sole proprietorship would be his best business options, depending on what he is willing to risk.

 

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The correct answer between all the choices given is the first choice or letter A. I am hoping that this answer has satisfied your query and it will be able to help you in your endeavor, and if you would like, feel free to ask another question.

5 0
2 years ago
Read 2 more answers
John
dem82 [27]
<span>The businessmen of the 1800s revolutionized business practices in this country. For one, new techniques like vertical and horizontal integration increased efficiency and improved profit margins for single companies. Also, the new banks demanded positions on the boards of the companies they loaned money, transforming the role of financial institutions in America.</span>
8 0
2 years ago
Red Raider Company uses a plantwide overhead rate with machine hours as the allocation base. Next year, 400,000 units are expect
snow_tiger [21]

Answer:

$166.8

Explanation:

Given that,

Units expected to produced = 400,000 units

Machine hours required = 1.2 each

Manufacturing overhead costs:

= Department 1 + Department 2

= $2,530,000 + $2,752,000

= $5,282,000

Total Machine hours:

= Department 1 + Department 2

= 30,000 MH + 8,000 MH

= 38,000 MH

Overhead cost per machine hour:

= Manufacturing overhead costs ÷ Total Machine hours

= $5,282,000 ÷ 38,000 MH

= $139 per MH

Overhead cost per unit:

= Overhead cost per machine hour × Machine hours required for each

= $139 per MH × 1.2

= $166.8

8 0
2 years ago
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