What accounts might iTunes use when it incurs shipping costs on account?

The adjusted trial balance for Yondel Company at December 31, 2018 is presented below: Accounts Debit Credit Cash $ 8,000 Prepai

e-lub [12.9K]

Answer:

Explanation:

Cash =8000

Prepaid rent = 23,000

Land = 445000

Accounts payable = 12,000

Salaries payable = 20,000

Retained earnings = 109,000

Dividends = 14,000

Service revenue = 340,000

Salaries expenses = 160,0000

Rent expenses = 29,000

Utilities expenses = 32,000

Net income = Service revenue - Salaries-Rent-Utilities-

=340,000-160,000-29,000-32,000 = 119,000

Journal

1. Debit Service revenue - 340,000

Credit income summary - 340,000

2, Debit Income summary - 221,000

Credit Salaries expenses 160,000

Credit Rent expenses 29,000

Credit Utilities expenses 32,000

3 Debit Income summary 119,000

Credit retained earnings 119,000

4 Debit retained earnings 14,000

Credit retained earnings 14,000

7 0

2 years ago

Fair use allows individuals to break copyright so long as they ________.

Lady bird [3.3K]

Fair use allows individuals to break copyright so long as they b. <span>Can prove they are not infringing on copyright.

Using another person's work without his permission is considered copyright infringement. However, fair use allows people to use other people's work without their permission, as long as the works used are for commentary, criticism, new reporting, or educational purposes. As long you can prove that a work was not used for infringement purposes, you can break copyright.</span>

3 0

2 years ago

Read 2 more answers

Explain the role of cognitive shortcomings in the WorldCom fraud and how social and organizational pressures influenced Betty Vi

bulgar [2K]

Answer: Ethical Obligations and Decision-Making in Accounting-The Heading is devoted to helping students cultivate the ethical commitment needed to ensure that their work meets the highest standards of integrity, independence, and objectivity.

* This program is designed to provide instructors with the flexibility and pedagogical effectiveness, and includes numerous features designed to make both learning and teaching easier.

Explanation: The first, addressed in Part I, is the administrative cost of deregulation, which has grown substantially under the Telecommunications Act of 1996.Part II addresses the consequences of the FCC's use of a competitor-welfare standard when formulating its policies for local competition, rather than a consumer-welfare standard. I evaluate the reported features of the FCC's decision in its Triennial Review. Press releases and statements concerning that decision suggest that the FCC may have finally embraced a consumer-welfare approach to mandatory unbundling at TELRIC prices. The haphazard administrative process surrounding the FCC's decision, however, increases the likelihood of reversal on appeal.Beginning in Part III, I address at greater length the WorldCom fraud and bankruptcy. I offer an early assessment of the harm to the telecommunications industry from WorldCom's fraud and bankruptcy. I explain how WorldCom's misconduct caused collateral damage to other telecommunications firms, government, workers, and the capital markets. WorldCom's false Internet traffic reports and accounting fraud encouraged overinvestment in long-distance capacity and Internet backbone capacity. Because Internet traffic data are proprietary and WorldCom dominated Internet backbone services, and because WorldCom was subject to regulatory oversight, it was reasonable for rival carriers to believe WorldCom's misrepresentation of Internet traffic growth. Event study analysis suggests that the harm to rival carriers and telecommunications equipment manufacturers from WorldCom's restatement of earnings was $7.8 billion. WorldCom's false or fraudulent statements also supplied state and federal governments with incorrect information essential to the formulation of telecommunication policy. State and federal governments, courts, and regulatory commissions would thus be justified in applying extreme skepticism to future representations made by WorldCom.Part IV explains how WorldCom's fraud and bankruptcy may have been intended to harm competition, and in the future may do so, by inducing exit (or forfeiture of market share) by the company's rivals. WorldCom repeatedly deceived investors, competitors, and regulators with false statements about its Internet traffic projections and financial performance. At a minimum, WorldCom's fraudulent or false

6 0

2 years ago

On October 31, 2021, the bank statement for the checking account of Blockwood Video shows a balance of $12,818, while the compan

pickupchik [31]

Answer:

Explanation:

Bal as per cash book. $12,326

Add:

outstanding chq. $1,225

Overstated expenses. $27

Unknown credit. $566

Less:

Uncredited cash. $780

Direct debit. $449

Bank charges $23

Bank charge. $74

Bal in bank statement. $12,818

5 0

2 years ago

Silicon Technologies, currently sells 17" monitors for $270. It has costs of $210. A competitor is bringing a new 17" monitor to

Alex_Xolod [135]

Answer:

Option C-$172.50

Option C,($190,000)is correct

Explanation:

Target cost=competitive market price-target operating profit

competitive market price is $230

target operating profit is 25% of selling price=$230*25%=$57.50

target cost=$230-$57.50=$172.50

Option C is correct as a result of the above computation

Current operating income =($270-$210)*5000=$300,000

new operating income=($230-$210)*(5000*110%)

=$20*5500=$110,000

The new operating is $110,000 from $300,000 recorded earlier,in a nutshell ,the operating income would reduce by $190,000($300,000-$110,000)

Option C is the correct answer

4 0

2 years ago