Answer:
Journal Entries
1) Debit Salary Expense $6,667 Credit Bank $6,667
2) Debit Fuel and Maintenance Expense $600, Credit Bank $600
3) Debit Depreciation Expense $amount Credit Accumulated Depreciation $amount
4) Debit Insurance Expense $amount Credit Bank $amount
5) Debit Benefit Expense $amount Credit Accrued Benefit Expense $amount
6) Debit Accounts Receivable (total of all trips) $amount Credit Service Revenue $amount
Explanation:
The prompt is not complete, but I will create typical journal entries for the transactions without numerical figures.
1) The salary represents one month, and the in brackets is a $80,000*1/12 calculation showing that the $80,000 is annual; should this have been already recorded, we would debit salaries payable $6,667 and credit bank $6,667
4) Insurance expense is debited if paid as incurred, but if there's a Prepaid Insurance account, we credit the Prepaid Insurance account instead of Bank.
Answer: True
Explanation:
The context reveals that Esther and Holly are at odds regarding which company should receive their business pitch, but they opt to put aside their differing views on environmental matters to concentrate entirely on the company that offers the most immediate benefits.
This situation illustrates that their attention is on shared interests rather than individual positions, as evidenced by their choice to ignore their disparities and aim towards a mutual objective.
Answer:
The total comes to $121.2.
Explanation:
You went grocery shopping and paid with a check.
Cost of groceries: $45.20.
Your check bounced, resulting in a $25 fee from the bank due to insufficient funds in your account at the time of payment for groceries.
The bank also charged your account an additional $25 for the bounced check.
The grocery store notified you that you owed them a $25 fee because of the bounced check.
You will need to pay $45.20 again.
Money order cost: $1.
Therefore, your total grocery expenditure equals:
$45.20 (actual grocery cost) + $25 (owed to the bank for your friend's bounced check) + $25 (bank fee for bounced check) + $25 (fee charged by the grocery store for the bounced check) + $1 (money order)
= $121.20.
Thus, your actual outlay for groceries amounts to $121.20.
Net income or (Loss) = $43,128.
The provided information states that:
Elegant Decor Company
Forecasted annual income statement
Under the strategy to eliminate Department 200
Sales = $437,000
Cost of goods sold = $261,000
Gross profit = $176,000
Operating expenses
Direct expenses:
Advertising = $15,500
Store supplies utilized = $4,500
Depreciation of Store Equipment = $4,200
Total Direct Expense = $24,200
Allocated Expenses:
Sales Salaries = $64,000
($104,000-2×$24,200+($31,200÷2) = $40,000)
(104,000-$40,000)
Rental Expenses = $14,180
Bad debt expense = $9,400
Office salary = $15,600
($31,200 - ($31,200 ÷ 2))
Insurance expense = $1,724
($2,200 - $476)
Miscellaneous expense = $3,728
($4,000 - $272)
Total Allocated Expenses = $108,632
Total Expense = $132,872
($108,632 + $24,200)
Net income or (Loss) = $43,128
($176,000 - $132,872)
Response: Exchange
Clarification: In marketing, an exchange occurs whenever individuals trade goods or services to fulfill a need or desire by offering something of value in return. Each exchange should create "utility," which signifies that the worth of the item given in trade is less than what is gained from the trade. Thus, the concept of individuals being prepared to sacrifice something valuable or to face costs such as time, money, embarrassment, or the discomfort involved in altering habits to obtain something valued is referred to as exchange.
