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riadik2000 [5.3K]
2 years ago
12

Omega Company adjusts its accounts at the end of each month. The following information has been assembled in order to prepare th

e required adjusting entries at December 31, Year 1: (1) A one-year bank loan of $720,000 at an annual interest rate of 12% had been obtained on December 1, Year 1. (2) The company pays all employees up-to-date each Friday. Since December 31, Year 1, fell on Tuesday, there was a liability to employees at that date for two day's pay amounting to $6,800. (3) On December 1, Year 1, rent on the office building had been paid for four months. The monthly rent is $6,000. (4) Depreciation of office equipment is based on an estimated useful life of six years. The balance in the Office Equipment account is $9,360; no change has occurred in the account during the year. (5) Fees of $9,800 were earned during the month for clients who had paid in advance. After the appropriate adjusting entry is recorded, the balance in the liability account Unearned Fees will:
Business
1 answer:
BARSIC [14]2 years ago
7 0

Answer: Decrease by $9,800

Explanation:

It is shown that fees of $9,800 were earned during the month from clients who had paid in advance. Unearned fees are liabilities because they represent revenue that a company made for services it has not delivered yet.

When the company delivers the service like these ones just did, they will reduce this liability because they have now earned this revenue by delivering the service.

Omega will therefore reduce their unearned fees account by $9,800.  

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Answer:

A. reducing her exposure to the risk of reputation damaging clients.

Explanation:

CSR otherwise known as corporate social responsility is a self act by a company aimed at contributing to the development of the society or environment where the company operates. It is a volunteering and philanthropic .

Companies have now been factoring CSR into their business model because it helps them to be socially responsible and accountable. Most consumers are now beginning to check on companies who does CSR before choosing their brand.

Examples of CSR includes provision of health care facilities to the environment where the company operates, provision of scholarships to students of the host community, sponsoring events, employing people withing the community etc.

The impact of CRS and environmentally sustaining business includes but not limited to

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8 0
2 years ago
John is an entrepreneur who plans to enter a franchise contract with a hotel business. which of these is an advantage that John
umka2103 [35]

Answer:

The correct answer would be option C, He will be able to gain knowledge and support from the hotel business to run the franchise.

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Franchise is basically a contract between two parties in which one of the party who is owning the business is ready to sell his business rights to use its name and products to the other party. The other party can open the same business with the same name and products or services and run that business. In this type of contract, a continuous help and support is given to the franchisee to run the business. So if John being an entrepreneur wants to enter into the franchise contract, then he will surly be able to gain knowledge and support from the hotel business to run the franchise.

3 0
2 years ago
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A competitive car wash currently hires 4 workers, who together can wash 80 cars per day. The market price of car washes is $5 pe
DENIUS [597]

Answer:

Number of car washed is 92

So option (a) is correct answer

Explanation:

It is given that 4 workers can wash 80 cars per day

Means initially 80 cars are washed per day

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2 years ago
​rose, a human resource manager in a consulting firm, proposes an initiative to the management that would facilitate the promoti
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I would say that Rose's idea is based on an analysis of the seniority of the employees and the time between their promotions and apparently is to help the longer term employees to obtain promotions and thus encourage them to strive to become even better employees perhaps in new positions.
6 0
2 years ago
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QUESTION 8 of 10: You are counting your competitors in town. This number is a(n):
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